2. Facilitated By
Chinedum Azuh
CEO Learning Lab Nigeria, Online
Consultant With USA Learning
Annex, Self-Publisher, Radio/TV
Personality and a Syndicated
Columnist with Over 500 Articles.
Empowerment Speaker and
Gospel Preacher on High Demand.
Producer of the Motivational
Radio Program “Motivation To
Prosper with Chinedum Azuh”.
6. Develop a Business Plan
A “business plan” is a roadmap that describes
where you’re going and how you’re going to get
there
A guide to achieving your goals
A tool to spark investors’ interest
A document that helps employees understand the
company’s mission
7. Let Your Creativity
Replace Your Money
Get your business "back to basics." Initially, try
to make sure your business is as lean as it can
be. Minimize your need for cash, which can be
hard to come by at first, and aggressively
increase sales activity through developing and
implementing your own creative ideas and
concepts. Always think big. One great idea
can be worth thousands of Rands.
8. Barter For What You Need
Bartering hasn’t gone the way of the dinosaurs, in fact it
is alive and thriving and is a great way to get the goods
and services you need without spending a dime.
Find other start-ups that have what you need and need
what you have. A good place to start might be any
suppliers that are also start-ups. They are cash-
strapped like you and probably need to spend money
they don’t have.
Also partner with other businesses and companies to
achieve your business dreams.
9. Build a Business Round the
Skills that You Already Possess
What can you do that someone else might be
prepared to pay for? Can you make clothes, paint
and decorate, teach, write, programme a computer,
speak Italian? Do you have a hobby you could turn
into a business? If you possess a skill that other
people don’t, or would need to invest time and
money learning for themselves, that immediately
puts you at a big advantage. You can easily start a
business on that premise.
10. Get Customers To Pay You
Upfront
Get customers to pay you
upfront – or at worse, half
upfront, half later, so that
your costs are always
covered.
11. Maximize Your Existing Assets
When you're starting a new business from nothing, you
should use the resources you already have at your
disposal as much as you can. Turn your living room
into a workshop. Some of today's biggest companies
(most famously, Apple and Facebook) began in humble
places - garages, basements, and dorm rooms, for
instance. Don't be afraid to make the most of what
you've got! If you have a home, use it as the initial site
of your business, rather than renting an office. This
way, you'll save the money you would otherwise have
spent on rent. For tax purposes, you may want to write
off part of your home as a home office.
12. Raise Money Through Crowd-
funding
Crowdfunding is the practice of funding a project or venture by raising
many small amounts of money from a large number of people,
typically via the Internet.
There are dozens of different websites offering crowdfunding, all with
their own models, but here’s how it generally works.
You go to one of the crowdfunding sites and create a listing detailing
how much money you need, what you need it for, and what you can
offer in return. Your listing runs for a set period of time, say 30 or 60
days. Then people pledge money to your campaign, and you raise
money for your business, typically by having hundreds or even
thousands of people each contributing a small amount. Examples of
Crowdfunding Websites: indiegog.com, kickstarter.com etc.
.
13. A “marketing plan” serves as a blueprint for
you to follow to get your products and services
known and recognized. It has:
– Competitor and issue analysis: challenges
and opportunities facing the business
– Objectives: What do you want to achieve?
– Action program: A “to-do” list
– Budget: Detail expenses
– Strategy: The Four “P’s”
Create Your Marketing Plan
14. Make Use of Free Technology
Build a website for nothing using an online
website builder such as moonfruit.com,
wix.com, simplesite.com or basekit.com.
Then get social networking. It’s free, it’s
easy, and it’s an amazing way of promoting
your business without spending any money.
Sign up to Twitter, create a Facebook page,
and join Linkedin.
15. Create An Online Presence
Put Your Business on Social Media: Facebook,
Linedin, Tweeter etc.
Write Articles and Publish on Article
Directories Like Ezine, Hubpages and Many
More
Create a PowerPoint Presentation of Your
Business and Post it on a Site Like
Slideshare.net
Create an E-book and Publish it Amazon
Kindle, Smashword etc.