15/04/2025
HOW TO START A BUSINESS WHEN YOU ARE BROKE AND FINANCIALLY DOWN.
I see a lot of people make this mistake so I thought to teach about it.
If you do not have a lot of capital or skill and you want to start a business to make some money to survive, you must first build a list of things that you should NOT consider:
1. No buying and selling the taking orders (everyone is doing buying and selling, they do not know it is business for the rich. Only a rich man should tie down money).
2. No business that has small margins (don't be selling wigs or brus).
3. No tying down money on inventory (not enough money to buy goods and be looking at the goods 2 weeks no sales).
4. No focusing on selling to only family and friends (forget them from day one).
5. No multi-level marketing (No time to bring two people).
6. No production of any kind (No time to make things and be making $50).
7. No none-essentials (sell what people need everyday not shoe and bag).
8. No none-consumables (sell only what the customers keep coming back frequently because it has finished)
Again, there is nothing wrong with the things listed in 1 to 8 above; but you cannot venture into them at this time. No! You only do those when you have more trading capital.
So, what would I do if I had only $50 to start a business and survive on it?
I would do any of these:
1. Service-based business like braid someone’s hair and make $10.
2. Act as a middle man and sell items that other people own. Example - Take pictures of nice parlour decorations from a major interior deco importer, and sell at a margin.
3. Sell a single type of cooked food in massive quantity.
Listen please - If you do not have a lot of capital, you do not just jump into any business like the rest. You need to give yourself time to think.
Think about what?
- Think about the profit.
- Think about the speed at which that thing sells.
- Think about the speed at which you will leave poverty.
- Think about the speed at which a customer will come back to buy again.
- Think about the speed at which my money will turn over
Sister, brother, poverty is not a lack of money. It is lack of knowledge.
Please seek knowledge and liberate yourself.
