Continued from last week.
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.
Omilola
Oshikoya is Africa's premier life, finance and business coach,
co-author of the money book, a columnist for the second most widely read
newspaper in Nigeria and a co-host on the talk show, The heart of the
matter which airs on Ebony life and Niger Delta TV.
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