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Posted 9 November 2020
If you are not rich today, the reason is that you haven’t invested enough, or your investments didn’t go right. Investment going bad means you still have things to learn, but I can see you are not a quitter, which means you are not a failure.
In today’s world, there are many ways you can invest without money. The obvious way is borrowing, but the thing with borrowing is that you are a slave to the lender. You might laugh at this and say, “A lot of people built their wealth from the money they borrowed from somewhere.” That’s true, but many have also lost the money they borrowed just because they wanted to start big, and now they owe so much.
You shouldn’t be scared of starting small in business; you learn a lot when you do so. Fast growth is profitable, but you can see most of these companies raise millions of dollars just to keep their businesses going.
Many big companies out there might decide to buy smaller businesses, even with their debt. They do this to add to their portfolio or have more income sources for their company. But sometimes, this doesn’t work out—companies defunct due to a lack of funds. You can check out this post by CBINSIGHTS to see some companies that raised millions of dollars only to shut down.
I love fast growth, but you still have to put structures in place to maintain growth. Most of these companies were running without solidifying their base, and these made them sink.
Foundation is essential, especially if you have an investing goal. Most of these companies that went underground had investors who were pushing for growth they can’t sustain. To sustain the development, they had to raise more money, and when you collect more money, you lose control of your business. The investors will become the ones to make the decisions.
There are ways you can start investing with almost no money. When you start small, you have full control of your business, and you can make decisions and implement them quickly. You will only have meetings with yourself, which is a good thing. In the future, you can work with other people or even partner with other companies. But never let them take over your business. Most times, when they do that, they tend to kill businesses. You are the one that started the business from scratch, and you can take it to more significant miles. I know you might need help along the way, but be smart. In this article by LearClax, you will find out why overfunding can kill startups.
Below are ways you can start investing with almost no money:
1. Start Investing
Many people think they must have money to invest, but that’s not the case. There are many things you can invest in, but the most important one is in yourself. You are going to be the driver; why not learn how to drive? Yeah, this will sound a little strange, but anyways, investing in yourself should be the first thing you do if you have little or no money.
When you invest in yourself, you will learn better ways to achieve your goals. It might take other people years to complete something, but you might achieve things quicker just because you invested in yourself.
Some people spend millions of dollars every year on their education (not college education), and most times, they can write it off their taxes, but the truth is that they’ve learned a lot of things that can take them to the next level. In this article by AllBusiness, you will learn how to invest in yourself to grow your business.
2. Invest time and do the work
Investing in yourself is one thing, and investing your time is another. When starting, you have to invest your time in what will bring results. You have little money, and time is the only thing that is more valuable at that moment. You need to use the time you have so that you can make more money. You can learn more about investing your time in this article by themuse.
Now that you’ve realized you have time, it’s essential to get to work. Yes, at this point, you’ve invested in yourself. You still need to do the work because, without action, you are just wasting time. “I will do it” doesn’t mean anything. You have to get it done as soon as possible.
If you have a business idea, you have to start searching for ways to invest in it. Even if you have, for example, $1,000, and you want to make more, you have to figure out how to double it. Taking consistent steps is essential to your financial growth. If you have $1,000, you can read this article by NerdWallet to learn how to invest it.
3. Save to reinvest
It might feel like you are contracting, knowing that you have to be fast these days, or else someone will beat you to the game. I’ll tell you the truth; they might. But the fact is that as long as you keep going, there’s a chance you can still overtake them.
First of all, you need to know that this is a business and not a competition. You can be the best at what you do and make a cool profit. These income streams might not be big enough to pay the bills, but they can indeed grow. These income streams are also not intended to divert your attention from your primary business. In this article by HuffPost, you will learn how to create a side income while growing your business.