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Home How To

How to Become an Entrepreneur with No Money?

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How to Become an Entrepreneur with No Money
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What does it take to become an entrepreneur? Most of the times, we are told that an entrepreneur is someone who has a vision and the money to make it happen.

You might have the zeal to succeed, a problem-solving mindset, the ability to accept failure, and possess almost all the qualities that make an entrepreneur, but if you don’t have money, you will go nowhere. So they say.

This is not entirely wrong. But the truth is, in the digital age, becoming an entrepreneur doesn’t have to rely entirely on money. Many people wanting to walk the entrepreneurship path have had to rescind their decisions because they are told it isn’t possible without money.

From now on, you need to remove the excuse of not having capital from your list of obstacles stopping you from achieving your entrepreneurship dreams. Who said you need to have money sitting in your bank account to hunt your entrepreneurship goals.

By the end of this guide, you will walk away with the confidence to go hit the road with your business idea and become the entrepreneur that you’ve always dreamt of. Let’s get started.

Read, How to successfully manage a large team

Identify a lucrative passion

They say follow your passion and the money will follow, right? What if your passion isn’t profitable? That’s why it’s always good to start something that can bring money. So how do you go about finding a profitable passion?

You need to look within yourself. What frustrates you about a particular service or product you use? If you don’t have something that annoys you, ask your friends about their own frustrations concerning the services they use often. Taking these ideas, you need to do rigorous online research to identify what is working, what isn’t, and how you can fix the problem at hand.

This approach helps you to identify good ideas. It also helps you to come out with a product or service that isn’t coming to add up to the existing junk but to change things for the better. Whatever idea you come up with should focus on making things better or cheaper. Once you are sure of this idea, you are already an entrepreneur. I guarantee that.

Get your hands dirty–jack of all trades

Want to be an entrepreneur without money? Then you need to get your hands dirty with work. You have to handle almost everything by yourself. If it’s a digital product, you will need to handle web/app creation, design, content, development, and marketing among others.

And who said being a jack of all trades isn’t possible when there is a myriad of digital products to take care of many tasks for you. Don’t know how to build a site or blog? Get on YouTube and learn. You can build great and beautiful looking websites or blogs with Wix or WordPress at absolutely no cost. Use online resources to learn more about the things you need for your business. Use Canva for your designs. Get on social media and start your marketing efforts.

Building high-end product or service? Go the Co-founding route

Sometimes, you cannot handle all that needs to be done. In that case, you need to get a co-founder who shares your vision and has a separate talent you need to add up to yours to make a complete team. You could handle marketing and design while your co-founder handles development and other technical stuff.

You and your co-founder could build a digital product from scratch with free resources and without needing any help, financial or human resource-wise. Platforms such as FounderNation and Co-foundersLab are great places where you can meet like-minded co-founders.

Also, The Simple Tips About How to Speed Up Windows 10 Laptop

Focus on early stage customers

Once your product is ready and launched, you need to get it to the market as quickly as possible. This is where rigorous marketing comes in. Social media, content creation, online forums, and more.  You can also use word of mouth, where you tell friends and family about your product.

At this point, your goal should be to get early adopters for your product. And in doing so, you need the latest social media, content creation and marketing tools, most of which are free to use. So where do you go after you get your early-stage adopters?

Now you’re an entrepreneur – but in need of money to continue

So you see, it didn’t take money to become an entrepreneur. It only took your vision, idea, determination, and grit from you or your co-founder to make it happen. But now is the time to get the money you need and it might not necessarily come from your pocket.

Armed with your excellent startup and a few customers, you are ready to hit the road. At this point, you still don’t need a lot of money yourself. There are many options available. You can leverage crowdfunding platforms such as Indiegogo or Kickstarter to get funding for your startup. You can also pitch your business to angel investors or solicit funds from venture capital. These means would help you secure funding to grow your startup without having to cough out the money yourself. Another way to raise money or get cash faster, is by applying for a car title loan which is basically placing your car as collateral for a quick loan that you can access even if your credit is not up to par with banks.

Starting and growing a startup, especially a digital service or product doesn’t have to rely on money. For brick and mortar businesses, you would need money to start. All in all, in the digital age, it is easy to build a business or become an entrepreneur without investing much.

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Even before they step out of their farms to purchase equipment such as tractors, farmers already know what they are looking for. Most of them not only have an idea of the specifications they want but also of the make and model. This is why a farmer will have to be focused and deliberate questions when they arrive at an auction. You need to understand the general condition of the piece of equipment before you – here are some tips on what to look at; Outward appearance of the used tractor Some tractors look new even though they have been in use for a long time. This is a clear indication that the previous owners took good care of them. The conditions under which a tractor was used plus how it was stored are key factors of how fast it will wear down. Do you notice peeled paint, dents or odd-looking tires on a tractor? If you are still interested in buying it in such a state, find out how much it would cost to restore it to good shape to establish if you are getting into a good bargain. The condition of the articulation point As a general rule, the articulation point should stay greased. Failure to keep it that way results into wear and will affect the performance of the tractor. To check that this part of the equipment is in good condition, conduct a visual check. All is well if the part is greased and free from metal shards. Next, you need to carry out an operational inspection; by moving the tractor back and forth. Did you feel a knock during movement? You could be dealing with a transmission slip issue. The next test you need to perform is moving the tractor to the right and then left. As you handle the steering wheel, look out for signs of looseness or involuntary wandering. Any of these occurrences could be an indication of a bent or damaged pin. You should be concerned if the steering wheel feels too tight because this might mean that the pins are too dry or the hydraulic cylinders have been damaged. Engine Compartment The most important aspect of any type of machinery is that it roars to life when fired. This is the first indication that the engine is in good working condition. After turning on the tractor ignition, allow it to run for a few minutes then check if there is any form of leakage. Are leakages likely to happen after a few uses? You will know this from the condition of the hydraulic, coolant and fuel lines. Pay attention to any cracks and signs of wear. Even though the engine still runs, match the emitted horsepower with what has been stipulated on the engine plate. Further engine performance is determined by listening to any sounds that come from the cylinders; a mechanic's stethoscope is the ideal tool for this exercise but some people use screwdrivers. The final check of the engine should be on the air filter which should be done after the tractor has been switched off. Every manufacturer offers recommendation of how frequently air filters should be replaced. You will know if these have been followed from the appearance – at the very least, they should appear clean. Inside the cab The inspection of the cab begins right after you open the door. If there is mud or dirt, the tractor might have not been properly maintained by its previous owner. While the mileage or engine hours might not be a true indication of the condition of the tractor, the numbers will give you an indication of what to expect. For tractors that come fitted with a guidance system from the manufacturer, check that the electronic components still work properly. PTO shaft The Power Take-Off shaft is a standard component in all items that are operated mechanically. The first thing you need to check here is that the PTO on the tractor bears the specifications for the attachments you are looking to use with it. In instances where you do not find a perfect match, a tractor with more of the PTO power specification, horsepower, etc. versus what is needed and preferred. This ensures fuel economy and accommodation of larger attachments as farm operations expand. Apart from the specifications, it is important to check for smooth rotation when the engine is running. Any knocking or odd sounds could mean a potentially expensive replacement exercise. Keep in mind that repairing the PTO requires detachment of the rear end of the tractor. Maintenance records and supporting documentation Has the tractor inspection so far been impressive? It is now time to ask for the maintenance log and any documentation that supports it. These records are important in establishing when and which repairs have been performed on a tractor. Do not forget to ask the seller for list of attachments used on a tractor. Have you already made up your mind on the type of tractor you want to buy? There are plenty of posts on used tractors for sale on Tradus so you are not likely to get confused. Tradus is the online platform you need to be on if you are interested in a good bargain. Hosting buyers and sellers in Europe and beyond, this marketplace ensures that you have a wide selection of high quality used tractors to choose from. You do not have to worry about being conned on this site because Tradus vets all sellers to establish that they are honest and legitimate. If you did not immediately get what you were looking for, signing up for alerts ensures that you do not miss the chance to do so. Do you prefer to use the Tradus app instead? It is available on both Google Playstore and Apple Appstore.

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