There is a significant falsehood that derails and discourages most would be entrepreneurs. This is the notion that to build a successful business it takes tons and tons of cash. Because of this, even though a person might have a perfect idea, they might quickly get deflated when they consider how much they need even to get their business started in the first place.
While financial capital has its place in the scheme of business, it should not be your primary worry, at least not at the outset. Some might think this approach is a blind faith which leads to naught. But if you stop for a minute and think about it, you will realize that there are lots of people with tons of money but lack the right business ideas. In the same breath, there are a lot of individuals with revolutionary ideas but lacking the financial capital.
What this should translate to for a person with a profitable business idea and no financial capital is that his idea is his capital and as such should not be discarded because of lack of money. If anything, that every business plan will be the gateway to getting financial capital if you communicate the business idea to the right people (exercise caution like patenting the idea, so it is legally yours and thus cannot be taken over by unscrupulous business men).
Look for funding
Unfortunately, most banks and financial institutions will not give loans for start-up businesses due to the high risk of failure. It is said that out of every 10 small business startups 9 will fail. However, this fact should not spell doom and gloom for your business initiative.
As we have mentioned before, there are people who have large financial capital and are on the lookout for innovative, revolutionary ideas and sound business models to fund and get a percentage out of. For example, consider The Shark Tank reality TV show
It might sound far-fetched for an entrepreneur to get a funding deal from their business idea from a reality TV show. But then why not! Such are times that we live in and you have to go where the funds are. Shark Tank consists of a panel of business moguls who know a good idea when they see one. They believe in the ideas so much so that they would be willing to partner with you on your venture, injecting all the capital you need at an agreed cut to them on the profits. If your business idea is worth its salt, even with zero money, you stand a good chance to get funding.
The point is, some of the great branding icons we see today struggled to start-up but they made far beyond their wildest dreams after that initial hiccup. So you should not be discouraged from working on a business idea despite lacking the financial capital. Sort out the business idea part to the letter, and then now worry about the funding. Someone will see your idea as you do.
— Suzannah Butcher (@superstartribe) 25 août 2017