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How To start A Business When You Don't Have Enough Money?

Hi all..
Here is the thing: i had a question on how much do you guys save from your salary and most of u said 10%-20% on average.

Is it possible for you to raise to at least 40%-50% this yr?

Why?

  1. when u start a business: u will need to reinvest ur profit into the business the first one yr. which means if your lifestyle expenses are so high: you will never have enough money to reinvest which means ur company cant grow!
  2.  if you are planning to be like me: work only an hour a day: u will hv to create a 'system' and tht costs money too. For 3 yrs i didnt take money frm my company, surviving with my savings and random income. So if i can do it; i know you can too:-)
  3.  if you want to build a company; you will always have fear to move forward or make changes. Most of the time it's about money. You are afraid if u make any changes ur customers will run. Increase ur savings and reduce ur expenses for the time being to eliminate fear of no money so u don take on crappy job or client just coz u need the money. I personally can make loads of money teaching nonbusiness offline course. But i choose not to coz i hate it. I can choose not to do that and live happily coz ive gt low expense so i don really need the money (if you know what i mean)

How to eliminate unnecessary expenses:

Those things that is not gona put in money in ur pocket: don buy it!
Example:
  1. clothes and jewellery: not gonna make u more money
  2. food: gives u energy to make money. But fine dining: NO
  3. insurance: get the basic medical coverage. U can always increase later when u r making money
  4. House: if your house is sucking ur money every month: move out, rent it out and rent another place. I always find house the biggest liability hence i dont own a house. I rent it but I've gt few real estate investment tht puts money in my pocket every month
  5. car: pay off asap or if sucking lots of money: sell it off and get a second hand mvyi till u r making thousands. I was driving my 12 yr old myvi till last yr. Or lease ur luxury car on weekends to grab driver. Do anything so that it gives u money and not suck out ur money
  6. Education fund: pay the monthly commitment. 
  7. Parents: talk to them and ask them how much do they really need? Like the bare min they can survive on. Talk to them and Tell them u need this for a yr to improve everyone's life. A lot of u will be surprised that our parents need only half of what we r providing. With their blessings u will be doing higher sales:) 

I know this sounds drastic but you know what? U hv to make this change or u will be stuck where you are. The biggest prob everyone have is finance and its all because of your liability. Figure out wht ur liabilities are and it will be easier to cut things off.  

If you do not do this: even if you make a million: it wont be enough. 

MIND YOUR OWN BUSINESS, and look at your own personal accounts now!
sue admi said...

Such a good sharing,thanks nisya

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