How to start a business with no money using what you know right now

Are you one of the many people considering starting a business today?

Do you find yourself asking questions like, "How do I start a business?"

"Where do I even start?"

There are many steps and guides online that will give you step-by-step instructions on how to start a business. 

I live in Grand Rapids, Michigan, and when I started researching how to start a business, google helped me find the exact steps to starting in Michigan. 

Suffice it to say the steps or order of operations may not be your obstacle when starting a business. 

In this article, I will not offer the steps to starting a business but a guide on starting a business that you want to run and discover for yourself. 

In my journey as a people leader and coach, I rarely come across individuals who are "meant" to be business owners, entrepreneurs, or solopreneurs. Instead, I find people that want a change, autonomy, freedom, or control of their life and have no idea how to obtain it. 

If this sounds like you, then keep reading!

What Is A Business?

An entity or individual that offers value for money or other tangible assets. 

That's it. That's a business. 

Here are a few unspecific examples:

• 1099

• Selling something you create

• Buy things to resell

• Offer a service for money

Cool, now let's bring context to those vague examples above. 

1099

• Shipt shopper

• Uber or Lyft

• Food delivery services

• Employed at any company that elects to 1099 you.

Selling something you create

• Anything found on Etsy

• Candles

• Soaps

• Hair or other body care products

• Items made out of wood

• Furniture

• Paintings or other types of art

Buying things to resell

• Garage sale flips

• Thrift store flips

• eBay dropshipping

• Amazon Dropselling

• Retail arbitrage

Services for Money

• Massages

• Any medical services

• Coaching

• Counseling

• Training

Let me be clear these are just some examples of businesses, and I offer them because I find so often that most people have one part of the business equation figured out. 

The Perfect Business Equation 

I find most people DO NOT start businesses because they are afraid, unclear, or it has never even crossed their minds. 

First, let's address these three scenarios. 

Afraid to start a business

This individual knows they have the potential to make it on their own. They have something working for them to some degree or another but do not want to take the risk. 

Usually, these individuals are doing something they love and probably even accepting money for it, but they are hung up on some aspect of starting a business. 

Here are some examples of common excuses the afraid provide:

• Logistically they don't know where to start

• Business ownership seems too stressful

• I don't know how to do ______

The Unclear

This group is interested in owning a business or being at some level of entrepreneurship, but they aren't sure what they would be doing. They don't know what product or service to sell or have any idea of what they would do as a business. 

I was definitely in this camp. 

This group either chases down any business idea, typically failing quickly and changing course, or never getting started. 

Try everything or analysis paralysis.

Never Crossed There Minds

This group also has two types of people. 

The first type is doing something that could be considered a business but doesn't see this thing as a business. This group is usually deep within a hobby that has become something other people want to be a part of. They typically work alone in something they enjoy doing and never really get to the point that they consider growing it into a full-time gig. Their "business" is a passion project. 

The second type does nothing business oriented and plans to be an employee because they value security. I'd be shocked if anyone in this group would ever get stubble across this article. 

Which camp are you in?

If you find yourself as someone who is doing something that they love and are now doing that thing for other people, then you might be onto something. 

The Perfect Business Equation starts with

Doing something you love + having the desire to do it for more people = The Perfect Business for you.

Finding Your Perfect Business

This section is for you if you're in a group of people itching to become a business owner but don't know where to start.

1. Make a list of 25 things you enjoy doing

2. Circle 5 is the most enjoyable

3. Make a list of 5 things you would like to try doing

4. Circle the most interesting

5. Spend time learning about these things

This list will help you see what you should focus on and help you master the type of tasks, skills, or hobbies that could eventually become your business. 

I offer a video/worksheet tutorial on the five steps above. It is called Success Secrets. You can find that here. Enter your name/email address and select "start learning" on the next page. 

~ Personal example incoming ~

While in sales, I always found it fascinating how different strategies and techniques led people to make purchases. The human behavior aspect kept me wanting to learn more and get better. 

While in management, this fascination grew because mastering human behavior would mean I could be the best leader, both for the people I led and the company that employed me. 

This interest eventually became my business, but that was only because my fascination became a passion. 

Interest led to a fascination with the slight differences in the types of things that produce specific human responses, which led to a passion that became the business I love. 

Dare To Follow My Lead

Helping people brings me a deep sense of meaning and purpose. 

I am so thankful that I decided to follow a slight interest, a tiny facet of something I enjoyed about my job. 

I am grateful I dared to turn this passion that brings me so much meaning and purpose into a business. 

With that, I challenge you to dig deep within yourself. 

Find what matters to you. 

Start small.

Be curious. 

Learn all you can about these small things that start as a spark of interest. 

Have the courage to serve others with what brings you purpose and meaning. 

Doing so will change your life and probably the world. 

You Are Enough...

These simple steps require ONLY your focus and effort. 

• It takes $0 to discover that you like solving a problem for other people.

• It takes $0 to try an activity you've always been interested in.

• You have the skill right now to learn something new.

• You possess the skill to try something small.

I believe everyone should own a business, even if you're the only one working within it, primarily if your company consists of you doing something you love. 

Your Job Does Not Offer Security

When we can rely on ourselves for security, we provide ourselves and those in our care a level of protection that can never be taken away. 

Employment, on the other hand, offers a false sense of security. Your job can be taken from you quickly and without warning.

Becoming an entrepreneur means you have a potential backup plan if, for whatever reason, your corporate life sponsor ever decides to eliminate your income. 

How To Make Time For Yourself

One of the things I used to struggle with when I began starting my business was finding the time. 

If you read to this point and feel stuck in carving out some time to make it happen, then check out these articles:

3 Reasons Priorities matter and how to maintain focus

and

The secret to unlocking your career using your job

The first will help you prioritize your time, while the other offers strategies to utilize your job to develop the skills you need for your business. 

Also, feel free to let me know how this article has helped or other things you would like help with!

Please send me an email @ coachfree@michaelfreemancoaching.com.