View Full Version : Can you start without money?
12-05-2007, 05:15 PM
I am both at a fantastic time and a not so great time to start something like this. I only stumbled upon this book by accident but it is right up my alley. For the last 6 months I have been thinking that I want to try to start a business that allows me mobility. I didn't think as grandly as this book urges one to so I am happy I found it. I had this great plan that would have me saved $10K in a year to get a business started but I have been injured.
I am leaving my work at the end of the month. I have $0 in my bank account as just 2 weeks ago I spent what I had been saving for furniture. I am not really sure what to do with my life at this point but think that starting the business right now sure seems perfect...if not for the fact that I have no money. I can not get any sort of credit as I had a bankruptcy. I should take some time off for the injury to heal but my employment insurance actually will not be enough to cover my costs (which other than loan payments are actually quite low $600/mo expenses plus food plus a $400/mo payment to my grandma for helping me out in the past that she can not afford for me not to make). So here I am being told I should not work because I need to heal but I won't be able to buy groceries or pay my grandma if I go onto medical leave.
Perfect time to start generating my own money on my own terms so that I do not further injur myself. However I just have no idea how to go about it with no money. I'm disappointed that I wasn't able to stick to my original grand scheme but I'm up to this new challenge. Has anyone ever been in this kind of situation?
Can you return the furniture?
If not, and if I'm you, I'm using this free time that you've now got to come up with a business idea, make a business plan, and get a partner that has what you don't have - money and credit.
12-06-2007, 12:49 AM
hey thanks for your reply :o) No I can not return the furniture unfortunately. The real problem right now is that I don't technically have free time because I can not afford to take this medical leave that I am supposed to. That is why I said this is a good time in a way (ie lots of free time to start) if only I could sort out the money problem because I am going to have to work. It's all good to come up with a business idea but I need to pay my bills. I'd like to just start my own business now rather than find another job so that I can work from my computer laying down in bed like I am supposed to be doing but it looks like I may have to work in which case I can come up with a business the same way most do (in my spare time while I'm working). But if there is some way to start up without an initial investment and just lots of hard work I do have the time for that, the only problem is having results quickly so that I can pay rent, etc. I'm still working on ideas...talking to lots of people and reading lots because I really need to be in bed healing, this is but one of my avenues to seek input.
Thanks again for taking the time to reply!
Why can't you return the furniture? You said it's only 2 weeks old. Take it back, and use the money to keep you afloat for a little while as you really focus on a business idea.
If you absolutely cannot take back the furniture, which I don't think should be the case at all, why not get a job bartending? You work off-peak hours, have the potential to make a lot of money through tips, and you have the chance to mingle with a lot of different people who could possibly help you in your business venture.
12-06-2007, 08:42 PM
I can not take the furniture back. As for bartending, that would be an excellent idea except I am leaving my job because of an injury to my pelvis/hip area. I can not be on my feet. Best case senario is on my back for 2 months in bed. 2nd best is a desk job. As I said I can do that and then just start working on my own thing in the evenings but I will be sitting which will aggravate the injury still (but not as much as being on my feet). I really appreciate your suggestions, thank you. I want you to know I'm not just coming up with excuses! :) I was just posting in this forum to find out if there is a way to start without an investment with similiar speed to starting with one as I really should be in bed for a couple months but I can not afford it on the insurance I will get. I don't mind starting my own business using the same plan I already had while I am employed but I'm just trying to figure out ways to take this medical leave that I am supposed to take. Thanks again!
12-07-2007, 12:51 PM
Westcoaster - spend some of your free time doing the thirty day challenge (google it or search this forum). You will find massive FREE information that shows you how to make money online and it won't cost you a dime to get started. Then brainstorm, then come back here and ask more questions, etc.
The answer to your question is YES, you can start with no money to spend, but it might just take you a bit longer to generate meaningful profit. THen again it might not take you longer.
Ideas to create income, as well as some other thoughts for you:
1) get a call center job where you can work remotely, ie from your own bed with a laptop.
2) find a sales-related job where you can make warm or cold calls to potential clients from your own home.
3) Sell your crap on ebay. Everyone has crap.
4) Look on craigslist for stuff that people are giving away. In my area, people are constantly putting stuff up for free just to get rid of it. If you live in an area where real estate is expensive, that means people have little space but often lots of wealth, therefore they give away stuff to save space. Go get that free stuff and sell it.
5) Get a book called "you have more than you think" written by Tom and David Gardner to learn how to plan your finances.
6) GO DO THE HOMEWORK from 4HWW book, talking about defining your own worst case scenario, "what would you do it" ... you are in this situation and you need to get creative about your finances.
7) Take some action TODAY - it does not have to be big, but (metaphorically), get off your ass and do something to get you going in a new direction even if it is a small action. Inaction breeds more inaction.
8) Listen to some Tony Robbins if you can get some. This guy is truly the best inspirational educator on making life changes.
12-07-2007, 04:17 PM
I LOVE the previous answer! I was in this position...literally about 8 years ago. I can tell you what NOT to do...Sit around worrying about it and being too prideful to take certain jobs. REALLY...DON'T try THIS way! It just leads to depression and feeling more and more not good enough. I think what is sinking in about 4hww that I'm still assimilating, is that we are NOT what we do! Work is a temporary thing to get what I want so I can experience. My added suggestion would be to think about ways you can heal faster. I know different doctors have different opinions but sports specialists and some alternative medicines can help you get back on your feet faster so you can make survive enough to feel free to make money.
12-08-2007, 02:06 AM
:) FrozenCanuck...thanks so much for your reply. I will look up that info you are suggesting. And I didn't even know you could work a call centre job from home, wow I will have to look into something like that. I have 3 years experience on phone and email customer service & technical support but that was many years ago and I didn't realize they let people work from home now. I will have to see what I can find in that area as that would be really helpful in letting me get off my feet if I can not make the insurance work.
And ya, I suppose I am at that worst case senario. It's funny because I went back yesterday through the book again and rewrote what you are just suggesting. As I was going through it I thought "umm...well I'm looking at this right now" and I know I can always just get a job to make it better but I'm trying to avoid that so that I can do the leave that's been suggested.
Also the craigslist thing...well basically everything you said was really good. Nothing I would have thought of so thank you very much. :)
12-09-2007, 11:55 PM
You have received a lot of great responses and you will figure it out, just don't give up! Do you realize that by just reading the book, and understanding some of the basic principles involved, puts you in probably like the top 95 percentile of the world as far as understanding success. Don't give up, you will probaly have to hit the wall and crash several times but you will do it! Just wake up every morning and repeat your goals to yourself, stay away from the negative people. Might include turning of the TV with the exception of TV Land or somerhing like that, but don't watch the news. Good luck man!
“Whatever the mind of man can conceive and believe, it can achieve.”
The Amazing Dorko
12-22-2007, 06:01 PM
Another great motivational speaker is Dr. Wayne Dyer He seems to have a couple crazy ideas but his message is awesome.
12-22-2007, 11:49 PM
Hey there WC;
Another idea., what talents or capabilities do you have or have you done in the past? Is there something, some specialized knowledge or ability that you can leverage into some home based business?
If you have any computer skills you can even post your availability on eLance or even HERE for other people to utilize what you can do in their own business, venture or project.
For example; code web sites, edit graphics, edit text or word documents, create marketing or ad copy, design web content of any type, work in Excel or Access, do online research, compile and organize search results.,
Do you have or are even slightly familiar with any other specialized knowledge, like real estate or stocks, bonds & security trading OR is there something similar that you have WANTED to learn.
There are many opportunities for working from home regardless of your physical condition and many of these can or may lead to your developing a viable ongoing home based business.
Even with little or no money one can research sourcing of products, learn some basic marketing, build a starter web site, open an E-Bay account w/ associated PayPal account and Voila~ ., home business~!
Search on E-Bay for the most popular / most searched products to get ideas., also integrate Google / Yahoo and other SE (Search Engine) results to find products and product trends and ideas.
Having NO money can be a real problem., but if you have even a LITTLE money ($100 to $200) that is actually enough to start a nice little E-Bay / web based business that can grow with you.
Search your home and your past for any articles of material stuff that might serve you better if turned into cash. My first web site / E-Bay shop sold old guitars that I had and then found more of at various places.
Also, ask friends and family if they have anything that they are getting rid of or want to sell. Offer to place it on E-Bay for them and take a commission for the sale. There is a local biz here in New York that does this!
If you have a digital camera and scanner you are already on your way to creating an E-Bay store that can start bringing in some CA$H money for you in a very short time. Books, collectibles, records, clothing, etc.,
Look around your local area for brick and mortar businesses that do NOT have a web presence. You may be surprised at how many that is and what you can do for them. Restaurant menus is one example.
Learn even a little bit about web design (tons of info on the net even using templates), get a basic internet provider (as Tim recommends, BlueHost) and start doing & selling simple web ads for local businesses.
A digital camera and several local real estate brokers can also be another source of work if you can learn to create eye catching ads to advertise some of the houses that are languishing on the market nowadays.
In fact, this brings up a GREAT point., depending on where you are located there are opportunities for "developing real estate" where you do NOT even need to purchase or take possession of property to profit.
With all the talk lately of foreclosures and the banks and everyone scared of owning a non-performing asset, you can speak with a bank and find properties for little or no money to repurpose to new owners.
Put it this way, banks are NOT brokers NOR are they in the biz to sell houses. As such, I have looked at foreclosure properties that needed only minimal cosmetics and cleanup to DOUBLE in price.
Using this method one does not even actually take possession of the property., you sign a contract giving you time to clean up the house, and then re-assign ("sell") to a new owner and take the extra cash yourself.
If you have any talents or capabilities that can utilize the computer or similar tools, you could post your availability and may find work pretty quickly as there are others on this site NOW looking to outsource tasks!
Besides 4HWW and other recommendations, check out David Allen, Getting Things Done if you are looking to set up a home office OR become an Entrepreneurial type. Helps in getting organized., :-)
Hope some of this helps.,
03-02-2008, 03:50 PM
Begin small - all great forrests begin from small acorns - or something like that.
Think about a zero or near-zero biz - selling your own ebook perhaps? It's not as hard as you may think - you know how to do something that someone else knows nothing about but wants the knowledge to start - as we all do - this is your chance to write it. It won't cost much to sell it online.
Lets just say that I know about bankruptcy - so you are not alone my friend - but it is infact a great opportunity to actually get what you want and it can drive you to unlimited success.
03-02-2008, 06:58 PM
I thought they had free healthcare in Canada and great treatment for people in trouble. socialist state of sorts. I guess not. Good luck buddy.
Try looking for a telecommuting job, data entry from home, something.
03-02-2008, 08:57 PM
Yes, you can start with no money. Where I see your problems coming from is not a lack of cask, but a lack of focus. It appears that you are looking for a free money solution that is easy to set up, costs nothing, you can operate from bed, and will bring in money from day one. The only thing that does this is going on welfare.
Putting into place even 10% of the things suggested here in this thread will move you much further along than you would have been though.
Someone said do your homework from the 4HWW. Read the whole thing again. Figuring out what you don't need is just as important as what you need. Your priorities seem to be out of line with your needs (and wishes). Blowing your savings on furniture and then quitting your job with no savings. You can you have no credit? Bankruptcy is a credit company's wet dream. Google it. You can only declare it once every 7 years, so credit companies love giving cards because they know they are safe for 7 years.
It might sound harsh, but you need a wake up call. Money management is not a hard thing to do. You obviously have problems with it. Get that taken care of because of you ever do find a successful muse, your money problems will get worse, EXPONENTIALLY, if you start bringing in more.
Here are a few resources for you though to add to the list of stuff to read:
Personal Development Carnival Issue 32 - Pretty good stuff (http://www.thenext45years.com/2008/03/personal-development-carnival-issue-32.html)
Think and Grow Rich - Napoleon Hill (http://www.soilandhealth.org/03sov/0304spiritpsych/030413.Hill.Think.and.Grow.Rich.pdf)
03-04-2008, 04:41 PM
if you just need a little cash, check out craigslist jobs > etc
I've used this in the past for quick bucks. If you have a very open schedule you can do a lot of things to make a few hundred bucks in a day. They offer focus groups, positions as training aids, and other random stuff you wouldn't think of.
I needed some capital for a project, went on there and found a research study conducted by Gilette that offered $400 if you shaved 4 times for a camera. Easy cash to help you get started...
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