00:00:11another edition of ask Evan in today’s
00:00:13video I’m going to answer a question
00:00:15from one of my readers Judith who wrote
00:00:17in asking about how to start up a
00:00:18business without a lot of money so she
00:00:20wrote in saying dear I’m going to have a
00:00:22question for you is it possible for
00:00:24someone to start a business with very
00:00:26little capital or no capital at all and
00:00:29grow I’m looking at a cosmetic business
00:00:31I want to try this business but the
00:00:33challenging part here is it’s so
00:00:35competitive regards Judith so Judith it
00:00:38is absolutely possible to start a
00:00:40business no capital or almost no capital
00:00:42if you look at any famous entrepreneur
00:00:44almost they started with almost nothing
00:00:46if you look at any of the profiles on my
00:00:48web site of the famous entrepreneurs
00:00:50brand name people that you know they
00:00:53started with just an idea very little
00:00:55capital and we build up their business
00:00:57so don’t think you have to have big
00:00:59investors venture capital angel
00:01:01investors on board or a huge loan from
00:01:03the bank you’ll start your business most
00:01:05people start with nothing just hard work
00:01:08sweat equity grinding it out until they
00:01:10become successful so to make it happen a
00:01:13couple of ideas for you don’t start
00:01:15spending money until you’re making money
00:01:18so try to figure out ways to start your
00:01:20business on a smaller scale we still
00:01:23have may have a big vision for where you
00:01:24want to go but you start on a smaller
00:01:25scale without spending a lot of money so
00:01:28you can start part-time if you need to
00:01:30start a service-based type of business
00:01:32instead of having a product don’t invest
00:01:34in any major equipment that you don’t
00:01:37absolutely need start out of your home
00:01:40so if you’re doing a cosmetic business
00:01:41start something out of your home start
00:01:43something that a service base and start
00:01:46with something that you don’t have to
00:01:47invest a lot of money into and start
00:01:49getting known for excellent service and
00:01:52excellent quality on maybe one specific
00:01:55thing so you might not be able to
00:01:56compete with everything and you’re up
00:01:57against bigger more established players
00:01:59but try to find one thing that you could
00:02:01be known as the best act and really
00:02:05focus in on that provide amazing awesome
00:02:07service that people want to keep coming
00:02:09back for that
00:02:10other friends about and that’s a good
00:02:11way to start as you start building up a
00:02:14little bit of capital money is coming in
00:02:15then you can look at expanding your
00:02:17services potentially get in a retail
00:02:20space or an office space find more
00:02:23equipment and that’s how you can grow
00:02:24but you start by keeping things really
00:02:27low cost service space don’t invest a
00:02:30lot of money invest your time and energy
00:02:32into providing an amazing service
00:02:34getting that momentum and word-of-mouth
00:02:37marketing happening for your business
00:02:39and eventually be able to grow it up so
00:02:41I hope that helps if you guys like the
00:02:43video please give it a thumbs up below
00:02:45and I’ve also love to hear your feedback
00:02:47and suggestions if you want to comment
00:02:49under this video and stay tuned for the
00:02:51next episode
00:03:04you
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