Establishing a Business Without Capital – Is it Possible?

15.10.2021
149

Establishing a Business Without Capital – Is it Possible?

He had previously worked for ten years at a small surgical instrument import firm. In 1972 he had successfully started his own medical supplies company that specialized in dental supplies. driven by this burning desire to run his own company, Mr. Williams decided to quit his job and pursue his entrepreneurial dream. In doing so he left his three young daughters with his parents. In an effort to provide for his family, he sold his dental supplies company to a wholesale dental supply distributor. This was the beginning of the end for Mr. Williams who struggled for years to find a suitable capital structure to fund his new venture.

Establishing a Business Without Capital

It was not until the early nineteen seventies that Mr. Williams decided to return to school and earn a Bachelors Degree in Business and Management at the University of San Francisco School of Business. He then spent two years working as an account manager for Wells Fargo Bank, managing the accounts of over one hundred clients. At the time, he was only earning around six hundred dollars per month and it was obvious that his entrepreneurial dream was not feasible.

During this period, Mr. Williams realized there were two distinct types of entrepreneurs in the world, those who achieved their goals and those who did not. Those people who were consistently successful had a clear idea of what they wanted to achieve and they systematically laid out a plan to reach that goal. Mr. Williams learned that ninety percent of successful businesses were established by people who applied themselves and focused intensely on the tasks at hand. Mr. Williams’ belief in his vision propelled him to apply himself and become a dedicated leader in the area of financial services. This led to a thirty year career as a business consultant, financial analyst, and marketing analyst. He even managed to open a new business, Estately, which is now located in London, England.

There are many advantages to establishing a small business without a large amount of capital. One of the most important of these is the lack of regulations associated with your business. You will be responsible for determining your own profit margins and you will have to set the terms of your business relationships with customers. Your customers will dictate many of the rules and regulations that surround your business. The success or failure of your business will heavily depend on how your business relationship with your customers is set up. Your relationship will also determine the level of service that you provide to them and this is a major aspect of running your business without capital.

Since many small businesses depend on their customers, having a dependable, fast service company to turn to for all of your customer service needs can be extremely valuable. Establishing a business without capital will allow you to focus on your customers and to truly realize the dreams that you had for your business when you first started it. Since there are no capital costs associated with operating your business, you are free to travel wherever you want whenever you want to open up a new business. There are no major time constraints associated with operating a business without any capital.

Another advantage to starting a small business without capital is that there is no need to make any major purchases before you open up your business. Once you have the business up and running you are free to start making upgrades and additions to your business and to hire employees to compliment your work force. This is a great benefit to any new entrepreneur. You can spend more time focusing on expanding your business rather than on what is happening within your company. Since your business does not need any additional start-up costs, you can take on more employees if you need to without worrying about whether or not you have enough money to cover all of the expenses.

Establishing a small business without capital can also be an appealing option for many people because they do not have to meet too much of a financial hardship in order to start their own business. For most people who have never owned a business before it can be daunting to be asked to come up with a significant amount of money upfront to start a small business. This can be a huge concern for many small business owners. Fortunately, this can be avoided by taking advantage of the commercial lending market. Commercial lenders will be willing to finance your small business startup needs because they understand that your business will likely need some financial assistance in the beginning.

Many people think that they have no options available when it comes to establishing a business without capital. However, they need to realize that there are always options out there. Small business funding is readily available throughout the country. Your local bank and credit union is probably your best option as they have experience working with small businesses. Establishing a business without capital is also possible; however, you will probably need to seek the help of various private sources before your business gets off the ground.

AUTHOR INFO
COMMENTS

No comments yet, be the first by filling the form.