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Starting your own business is a dream for many. But relatively few actually make the step to entrepreneurship. There are always reasons not to do it: uncertainty, no clear plan, the children are still small, we just bought a house, you name it. I don’t have any money” is also a common refrain, but that is really no excuse. Even without (much) money you can start a business. Here you read in points what you do need. Or should let…
Don’t do impulsive things like taking out a loan or, even worse, quitting your job. If you’re short of time, take another look at what you’re doing at home, but don’t cut back on your work in advance. After all, the step back is very difficult. Save, don’t borrow. Borrowing is always possible, but always expensive. If you set up a business without start-up capital, you will of course need money to live on. You don’t earn a reasonable income every day. Save what you can to be able to buy your products or pay for your promotion later on.Can you work less in your current job? Then make a plan for that (and do not go directly to your boss, that’s a bad signal!). Agree with yourself that you will only talk to your boss when you have X amount of income per month. Don’t be tempted to do it sooner. Turn your hobby into a paid hobby and only then take the step to the real work. Since 2018, we even have a book for that on our bookshelf: The Side Hustle. Entirely dedicated to building an income source alongside your current job. Costs € 17,50 though….
Prepare yourself mentally well. Talk about it with others to get your goal clear. Make sure you know what you want, because entrepreneurship also means: overcome setbacks. Falling down and getting up again. You do not need money for that, but motivation and resilience. Read for inspiration one or more books by and about entrepreneurs. There are also books by entrepreneurs who really started with nothing. They started with borrowed stuff, products that they only had to pay for when they sold them, etc. And of course with trial and error. The advantage of ‘talking to others’ is also that they will soon be able to act as ambassadors for you and your business. Free indeed, because they grant you it.
Research what you start. Do not just shout something vague like ‘I want to start a webshop’, because there are already too many of those. So make your plan concrete. Search -especially through the Internet of course- for possible competitors. See what they do not do well, and you do. Without any idea you will not succeed, entrepreneurship is not an escape route for being a work slave. Can you do something with websites like Ebay and Marktplaats? Then start there and slowly build up your capital to move on to a ‘real’ store or your own webshop. The latter does not have to be expensive. There are several providers of (almost) free web space including a webshop. They are not really top, but good enough for a start.
If you want to sell products you can let yourself be informed about affiliate-marketing or dropshipping. That way you can set up your own website and offer products without actually having to buy them and keep them in stock. You will be “provider number one” and will have to spend a lot of time getting your site known, but okay, it can be a start. However, don’t underestimate the profits you will make through these methods. The chance that you will make a real income this way is very small. But as a start, it can be an interesting path.
Make a business plan. Have friends and family look at it critically and take their comments to heart. An entrepreneur is usually stubborn and often that is the way to success. But not yet, you are not yet an entrepreneur. Think about what you lack as an entrepreneur in your industry and start studying. A course is a great way to better imagine the life you will soon have. Internet is here (also) your great friend, there you can find a lot of information and even complete courses. Free indeed.
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