In this easy and short guide, I’ll explain how to startup a small business without worrying about a lot of startup capital, managing 100s of employees, and going through a lot of hassles. Let’s see what is keeping you from starting up a business.
Why Startup a Small Business?
Before finding answer for how to startup a small business, It is important to first understand, why do you even want to start your own company or a business? Unless you answer this question, you’ll keep putting yourself into stress and trouble and either won’t be able to start a business or will fail. So here are a few reasons for starting your own business:
- You’re not satisfied with your job
- You’re not comfortable with your work environment
- You’re not happy with your salary
- You’re dissatisfied with your boss
- You’re not in agreement with your the management style
So you believe, you can change and improve all these aspects if you can have your own business. Well, that’s good. But there is a road block which can be removed if you understand this concept!
Easy Way to Establish a Startup Company
When you think of starting a business, you believe, that you’ll need a lot of money with which you will rent a big office space, hire many great employees, offer them a lot of perks, buy latest office equipment, hire great management team and what not.
But can this answer all your questions above? Not really. Instead, after thinking about all that hassle, you actually get anxious, and feel that you might not be able to have that kind of startup capital. Or your business idea might not be that great which can be backed by venture capitalist (VCs). So then you give up starting your own business. So then what’s the easy way to setup a startup company without worrying about startup capital?
Good News! Start Small!
Yes, you heard that right! Start small business. Stay with me and let me elaborate on that point. Instead of thinking about a business in million dollar terms, just think about what current salary you’re getting at your job which you do not like, while working in a environment which you don’t feel comfortable in.
Once, you have jotted down your monthly and annual salary, think about what you can start as a business which can give you at least what you’re currently earning, or a little better for starter, in a year or a few years maybe. And once you reach that level of income from your small business, you can target a bit higher; for example, you can plan to double that amount in next a few years.
Here are two examples, which can give you idea that how can you start thinking in this direction.
|Person A||Person B|
|Monthly Business Profit (1-2 Years)||>= $6000||>= $2000|
|Monthly Business Profit (3-4 Years)||> = $9000||>= $3000|
|Monthly Business Profit (5-6 Years)||>= $12000||>= $4000|
You see, thinking in small terms will make things easier to start. The above two hypothetical examples are just for reference, you can put yourself in as you see fit and then see how easy it is to start.
Start Small Online Business
When I say online business, people get confused. They think, you have to start an online store for that where you have to put a lot of products and then market those products to customers. Nope! Any business which you can start from your computer using an internet is an online business. Such businesses are low cost, which means they need less startup capital and don’t involve much hassle to start with.
Here are a few small online business ideas which you can start working on in no time. You can move forward gradually and then establish your business. Of course, it takes time to build a business no matter how small it is, but still these ideas are very easy and quick to start with.
- Start your own blog to share your expertise from which you can earn money as your readership grows
- Start your YouTube channel and share your knowledge, skills, or other information and that can start earning you money as well
- Start building your own mobile apps which can help you earn with ads or selling the apps
- Start creating your own courses where you can teach about your field
- Start freelancing services by providing paid services to clients and grow gradually. There are many freelancing sites to get started
- Start offering gigs at fiverr.com by using your knowledge, skills, and expertise
- Start offering consultancy services as an independent expert of your field
Remember, we’re going to start small and gradually build your small business from the ground up. These types of online businesses can be started along with your current job and until you reach income level of stage 1 mentioned above, you can continue both side by side. Once you achieve that level, you can say good bye to your job, and start planning to grow your business to stage 2m stage 3 and on wards. If you start thinking that you have to achieve all that in just a few days or a few months then you’ll get disappointed and discouraged.
I Run My Own Business
I don’t brag about running a million dollar business. I’m just a small business owner, running a small business from home. I provide freelancing and consulting services to clients, along with running my blog, and creating my own mobile apps. Along with that, I’m also investing my savings in stock market, money market, or income market funds only in ethical businesses.
So all this brings me good enough income to live a happy life. I work independently from my computer. I only need a laptop, internet connection, a comfortable table and chair and that’s it. I don’t worry about handling hundreds of employees, or managing a big office space, worrying about employee perks and what not!
Ultimately, How to Startup a Small Business?
Well, start small, with low startup capital, without worrying about a lot of resources. What do we need at the end of the day? A comfortable life, where we can live a happy life, our needs are met, expenses are covered, health and fitness is ensured, our families are taken care of, kids are being educated etc. So by thinking along these lines, you can also easily start your own business. I’ll be happy to hear your opinions as well!