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Showing posts with the label Finances

How to Start a Business When You Have No Money

I was recently asked by someone, “How do I start a business when I have no money?”  I didn’t answer right away.   Instead, I asked some probing questions to determining the person’s readiness to start a business.   After hearing her answers,    I promised   that I would get back to her with some resources. After thinking about this question, I’ve come up with the answer. The answer is: You Can’t!!!  It’s Impossible!!! You’re gonna have to pay for something. Here’s the deal.  No matter what type of business you decide to start, there will have some costs associated with it. There’s always gonna be costs for: Marketing Equipment and Supplies Business licensing Establishing your business name Systems Professional Development Insurance Legal Counsel and Paperwork Those are just a few line items.  I think the question “How do I start a business when I have no money?” really opens the door to more appro...

5 Lessons I Learned When I Started My First Business

Hey Everyone I hope you're doing well. The last time we talked, I mentioned that I had to reinvent myself due to a lay off.  You can read about that here:   How a Lay Off Forced Me to Reinvent Myself.  My first business was a home daycare business.  I operated that business for 3 years before returning to the workforce.  During that time, I learned some very important life and business lessons.   Here are 5 lessons that I'll share with you.  1.  When you move toward your purpose, the atmosphere has to obey!  - I confided in a co-worker that I wanted to start a daycare business.  She told me that she had previously ran a daycare business and that she had all of her equipment.  She was happy to pass it along to me to help get me started. It's my belief that what you need for your purpose is either in you or  right around you. 2. It's ok to be afraid. Embrace it instead of running from it.  .- I was scare...