Is it possible to start a business with no investment or no experience? The answer is yes. Its not the fund but the revenue model of a business which matters the most. But to start and run a business basic understanding is must required. 

How to start a business with no investment and no experience in India?

Whether you want to be an entrepreneur or you have a brilliant idea for a startup, but no capital or experience to start it? If yes, then this is just the article for you. It's true that an investor or army of investors make starting a new business relatively easy, but not having money is no excuse for not starting a business of your own. Same goes for experience as well. You should be able to sustain your business operations if you have the knowledge and research you need. Experience comes with practice. If you have the courage to achieve your dream, then yes you can do it.

Start a business with no money or experience

Before you can start a business, There are a few things you have to understand before proceeding with out investment.

Start a business based on what you know

We often impress with someone else's success and head to do the same stuff. Here we make a great mistake. Because any business needs certain level of skills and knowledge. 

Look inside yourself and identify what you are capable of, what are you skills and how good knowledge you have in that particular business. Then Start your business with your skills and knowledge. It eliminates one avenue of spending money when you do this, because you don't have to rely on outside assistance every step of the way. It's easy to build a business based on your personal knowledge, as sometimes knowledge is all that's needed to start a business.

And yes once your business started, you have to keep on gaining knowledge and improve your skills. Dont forget there is a competition in the market out there.

Business Registration

Another common mistake most aspiring businessman do, they start their business with out any registration. Registration of business helps to get most of the benefits offered by banks and Government. There a new business entity is the first step to starting a business. And business needs a bank account. The opening of a bank account is one of the things that a business entity can facilitate. 

Luckily in India there is LLP registration and MSME registration available for business which hardly costs one thousand rupees. So do register you business.

Avoid irrelevant expenses

When you start a business, expenses are bound to rise. The best part you can control it. Suppose you may want to visit raw material supplier in your city. Instead of hiring taxi or auto rickshaw you can opt public transport. Similarly when you want to supply your product to your buyer instead of hiring taxi you can travel in public transport and deliver your product.

The point here is you can avoid irrelevant expenses. The best way to save money is not to spend it. Business cards are a must to build your client portfolio. You do not have to invest in fancy cards at the beginning. You can spend a minimal amount on traditional cards and invest the rest in more useful operations.

Sell on Online Platforms such as ECommerce store

Thanks to high speed internet that is also available in rural villages. Which means you have a large amount of buyers across the country. All you have to do is take advantage of online sale. Either you can build your own website and sell or use e-commerce platform such as AmazonFlipkartMyntraSnapdeal etc. and sell online. See Once the business is registered, it's easy to become a seller on a website. Easy access to potential customers is one of the benefits of being a seller on an established eCommerce portal. With the help of the eCommerce platform, you can easily begin generating revenue.

Invest your time wisely

It doesn't matter if you don't have time to devote to something, you will make time for it. If you started a business a year ago, think about where you would be today. If you start now, consider where you will be next year. Otherwise You may end up waiting for the rest of your life if you keep waiting for the right time to start your business. And yes time is most valuable thing then anything else in the world. So spend your time wisely. Once it is gone, then it wont come back.

Take advantage of free marketing

What age is this, we are living in? This is digital age. Several large and small brands are present on social media sites. It's absolutely free to market your business on these sites, and you can reach out to your target audience directly. Social media is great for generating buzz for your business without breaking the bank.

There are social influencers available on the internet who can market your product or service for free or little amount of money. You can approach to them.

Start providing Services

What if you have nothing to sell as product but you can provide service such as law advice or construction advice or you can build web application. Then what? Relax. It is easy to scale up a business that provides services. Digital Marketing Agency, Medical Transcription, Web Development, Tutoring, and other businesses don't require a lot of investment or infrastructure to start. There are some great home based business ideas. 

Luckily there are plenty freelance website available where you can get plenty freelancing jobs and provide your service.

Compile Business Plan

Before starting your business put your entire effort and dont leave single stone unturned. Look all aspects of your business. Identify hidden risks that may cause trouble later. Meet people in the same business field, and gain knowledge from them. No one would do that for free. You have to befriend with them and have to gain trust.

Then develop your final business plan. A business plan is the best way to start a business if you don't have the funds. With plenty of private equity firms and angel investors looking to fund the next big idea, money isn't required to start a business anymore. To showcase the idea to friends, family and investors, a good business plan and pitch presentation is necessary. You can easily reach out to prospective investors with regular pitch presentations conducted by forums. If you want to start a business with no money, you must have a business plan.

When it comes to starting a business, passion is more important than the idea. Look at things differently and ask yourself how you could do them better. You have to open your eyes to see the ideas.

Be willing to put in the hours

Any business needs hard work to succeed. It's necessary for businesses that don't have the capital to hire a team. The owner of the business needs to handle everything from marketing to product development to make his/her business a success.

Government Schemes

There are a number of schemes by the Central and State Governments. Seed funding and a bank loan are provided by these schemes to entrepreneurs. Entrepreneurs with limited funds can also contact the nearest MSME Office to enquire about seed funding schemes from the government to find ideas for starting a new business with no money.

Money is the root of all evil but it is also the reason most businesses never get off the ground. They don't bother trying because they think it's too hard to raise capital. It was never meant to be that easy to start a business. It requires commitment, a willingness to fail and a lot of personal sacrifice. There are people in the franchise system who sell everything they had to raise money to invest in their businesses.

Conclusion

I hope you have clear vision now how to start your own business with no money and no experience. There is always risk associated with great dream. You must have the courage to achieve. That is the key ingredient to become success in business. A time will come, To reach your goals, you need to be prepared to invest money, time and effort. You can not expect everything to be easy. As long as you stay focused on your vision and work hard to earn the rest, the money will eventually follow.