dmann's Avatar
dmann 4
1 Asked
8 Answered
0 Best
0
No one has voted on this question yet :(
3 years, 4 months ago

What does a person do when they have no capital, but a good idea for a business in this particular market?

Tip for best answer: M$0.00
Separate topics with commas, or by pressing return. Use the delete or backspace key to edit or remove existing topics.

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

What is Your Answer?

0
0
0

4 Answers

0
easyeboy's Avatar
easyeboy | 3 years, 4 months ago
9
It's hard, depending on the market, you may or may not find an angel investor! You should try to find a partner. Try building the idea with sweat equity or a partner. Try the following:

First write a business plan.

Pitch angel investors, family, friends, and fools
http://en.wikipedia.org/wiki/Angel_investor

You can also apply for a loan or try to take out a line of credit, if you have some credit.

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

Report Abuse

Post Reply Cancel
0
bardseyes's Avatar
bardseyes | 3 years, 4 months ago
4
First find out what you're getting into. Really research the market segment you're looking at. Find businesses similar to yours (even if they are in different markets). Find out what kind of supplies you need, from what suppliers, or what the available labor pool will be like. All this goes into a prospectus for potential investors, but first it tells you how good your idea really is. Don't be surprised if it turns out to be a whole lot harder than you originally envisioned.

You can take out a small business loan from the Small Business Administration, http://sba.gov to get started, or look at partnering with friends or family, or asking them to invest. Finding other investors is going to be harder, you'll have to show them the distillation of that research from above.

Starting from scratch can be really tough. If you can do this as a side job for a while, see how it goes as an independent operation, that may also prove to potential investors that there is a market for growth as well.
source(s):
http://sba.gov

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

Report Abuse

Post Reply Cancel
0
rsbaxter's Avatar
rsbaxter | 3 years, 4 months ago
4
Google was started out in a garage, it snowballed into a multi-billion dollar company. Having a good idea is the first step, trying to market it is the tricky part. Do you have your own capital to start something, if not people who would invest in anything would want to know your idea and if it isn't trademarked or patented in some way you could risk giving it away for free as they would want to know your idea before they would invest in it.

Tread wisely and come up with a plan to document this idea first, if it is such an great idea or product. Then go out and try your best to market it, sounds like a lot of work? It is!

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

Report Abuse

Post Reply Cancel
0
jasonzaws's Avatar
jasonzaws | 1 week, 5 days ago
0
A trick I learned from Brian Tracy is to invest 3% of your income on your own personal development. I don’t know why he specifically uses 3%, but that seems about right to me. So if you earn $5000 per month, you’d invest just $150 per month on your own personal development. You could buy about 10 paperback business or self-help books; those are typically $12-16 each (but that’s a lot to read in a month). Or you could order about 3 six-cassette or six-CD audio programs; those are usually around $50-60 each, often $20-30 if you buy them used. Or that $150 could go toward the cost of a seminar or conference. Most one-day personal development seminars I’m familiar with are around $100, with 3-day or longer ones typically in the $200-600 range (although they can go much higher, well over $10,000). I find it best to mix and match different types of learning. For example, last month I bought an audio program, a few books, and went to a 3-day seminar.

http://www.propertyfaster.co.uk

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

Report Abuse

Post Reply Cancel

Learn something new with our FREE educational apps!

Private lessons in the comfort of your own home. Get back in shape or finally pick up a guitar with our great experts guiding you the whole way!
Learn Guitar
Learn Hip Hop
Learn Pilates