HOW TO MAKE MONEY WITHOUT MONEY _ PART 3

…Continued from previous post

Practical tips on how to make money without money?

There are many ways to do this. The advent of technology, particularly the internet is one of this generation’s greatest gifts. There are many ways you can make money with little or no money on the internet. You can set up a free blog on word press or blog spot and earn advertising revenue or start an online business.

Tips on How to make money without money:

1.      Don’t expect to earn money immediately; you must be willing to work for free for a while.

Most successful entrepreneurs worked hard without earning any income for a while.

Richard Branson worked for free to get Virgin Music business going. Mark Zuckerberg worked for free in his dormitory before he attracted investors

2.      Get suppliers on your side: This is the business model for well-known grocery stores in Nigeria etc.   People give them goods/products to sell and the grocery stores pay the suppliers from proceeds after the sale. 

A few years ago I sold Indian tunics at no cost to me. A friend of mine who lived in Dubai had tunics for sale. She would send me the tunics to help her sell. I added my premium and sold it at a profit. I paid her the cost price from the sales proceeds. If I didn’t sell the tunics, she didn’t get paid. 

3.      Provide a service: it is easier to start a service based business with little or no capital. If you are a graphic designer or fashion designer you can offer your services for a fee. You can also advertise on sites like Craig list.

4.      Be creative: Start from home or from your garage instead of renting office space.  The founder of Sweet Sensations started selling cupcakes from the boot of her car. The founder of Toms shoes, used a café in prime location as his office address. He made friends with the waiters so he could receive his mail there.

5.      Start a virtual assistant or errand business where you run errands for a fee: There is a Nigerian company called Houseboy.com that is doing quite well by running errands for people. You can hire them to wash and iron your clothes or pick up and deliver items for you. A lot of people also hire them to make indomie. Yes, indomie.

6.      Ask family and friends for a loan: There is a lady who started her hair retailing business with a loan of N100, 000 from a family member, in two years she had made over N10million.

…to be continued