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Tips on How to Start a Business Without Any Capital

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About Aden Eyob:

Aden Eyob, MSc, is a leader in mindset. She is the lead consultant at Mind Medication, clinical neuroscientist, and author of The Book on Mind Training: The Secret for Positive Living. Mind Medication can supercharge your executive team. We help high-growth start-ups from having a poor management team, lack of focus, and pressures of constant change to running an organization like a well-oiled machine with enhanced communication, performance, confidence, and interconnectivity.

‘A big business starts small’

 Richard Branson.

Great ventures start from the small beginning, and that includes your business. It takes a lot to run a business, let alone one without initial capital. However, a good idea coupled with an entrepreneurial mindset is the recipe for taking the risk. 

Business Mindset 101

Let's face it, starting a business will test your mettle, and your mindset will serve as a fortress to withstand the ups and downs of the entrepreneurial path. Start with having the right attitude towards money. How you speak of money will impact how you create money for your business. If you think I don't have enough, you will inadvertently project a message of a poverty mindset and, with repeated belief, create a money block in your business. The key lies in creating win-win business opportunities and affirming that there is money to go around even when it feels as though you are in a financial hole. 

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View risk with reward. Risk is inevitable. Every day we take the risk, but the degree is what determines our conscious awareness. Of course, your chance of failure will be greater than your success, but that shouldn't be the barometer for not starting a new business. Instead, think with the reward in mind. What will you gain (physical, mental, emotionally, spiritually) by starting your business, and what is the measure of risk required to meet the moment. Then, when things don’t go your way, or there's no clear path to success, pause and take time to improve yourself and your business. Remember, the risk is your friend who wants you to grow. 

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Embrace change as a constant. Business change is constantly evolving, so having an adaptable growth mindset will help you navigate the changes. By viewing change as a regular in your business, you will be resilient and nimble and in a better vantage point to spot unseen opportunities than resisting change.

When starting a business, finding a good idea is half the battle. The other half is finding it. 

There are plenty of ways to start a business without money. The following are tips on how to bootstrap your own business without money:

Low-Cost Business Ideas:

1. Sell A Service – Choose a service-based business and one that you can do remotely to keep your start-up costs low. Take inventory of your strengths, expertise, talents, and gifts and package them into a service that people are willing to pay for. Do market research to see which benefits your ideal customers like and take to actively promoting those services. 

2. Create Digital Products – similar to service-based business, except even more straightforward – all you need is something you can create and sell with just an internet connection and little to no money down. Think of eBooks, online courses, or worksheets and templates. The great thing about digital products is that they are scalable and great for making passive income. 

You don't need capital to start a business. Many entrepreneurs have braved the unknown and created successful ventures from scratch, often with no outside investment and even holding down a full-time job. You have what it takes. Now make the change.

By the way, join our 2-day online summit to find out everything about

Fundraising, Business Growth, Mindset and Networking! 

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