Most of us put off our ideas of becoming entrepreneurs on the pretext or the other. We think that we do not have enough funds to start a business on our own. We lament that we do not have the seed money to start a new business venture.
You might think I am joking—but, I am not! Believe me, money is not the prime concern for business. It is not the prime mover. An innovative idea which works is the essence of business. One brilliant idea can change your life forever.
If you are someone who is able to generate innovative ideas and work on them, you don’t need money to start a business. There are plenty of people waiting around with truckloads of money without any clue as to what they want to do with it. If you talk to those people and convince them that your project is a sure-fire starter, they may consider investing in your idea. And, there are other options like bank loans, stocks, etc.
If you don’t believe me, just take a look at these:
Uber—the world’s largest multinational transportation network company based in the USA does not own a single vehicle.
Now, consider the second example—Airbnb—the world’s largest estate agency that deals in accommodation does not own any real estate or building.
The world’s biggest social media network—Facebook—offers no content of its own. It just provides a platform for creating interesting content to members.
Is that enough? Or, do you need more examples to motivate you?
The moral of the story is: If you think of starting your business only after amassing enough money to start your own business, that day may never come. Very few manage to do that on their own. Very few manage to mobilize enough funds out of their own earnings or from their relatives and friends to start their own business. The other thing is: you don’t have any idea as to what you want to do once you mobilize enough funds. In fact, you start looking for an idea at that point which could be profit-making proposition.
But if you focus on innovative ideas and hit upon some idea that is likely to work, you can then hunt for the right kind of investor to back your idea. If you are able to sell your idea to the investor and convince the investor that your idea is sure to work, the investor may be motivated to fund your project. When that happens, your business is bound to take off from there. So, instead of focusing on generating enough funds to start a business, focus on brilliant ideas that have a very good chance of making a dent in the market. Once you do that, you are sure to blast off to a flying start. In other words, don’t be obsessed with the idea that you cannot start your own business without funds. Instead, work on innovative ideas that work and look out for people who are wondering where to invest their idle money. If they believe in your idea, they will finance your project just like the examples cited above.
