When I ask why you don't start your own business, I always hear, "I don't have money to start a business."
This is a common excuse people give for not starting their own business.
There is truth in the statement. You actually need money to make money or to start a business. But the question is "Do you need a lot of money or little to start a business?" and "Whose money do you use?"
Yes, I admit that it does take money to make money but it doesn't need to be your money!
Recently, one of my friends closed his restaurant business due to staff problems. But he quickly jumped to another business opportunity.
The business idea is so good that I want to share with you.
He is now running a training company. He focuses on corporate training. Basically, what he needs to do is to bring in famous trainers to his workshops. Market and promote the workshops and get people sign up for the workshops.
How much money do you think he needs to invest to organize one workshop? From getting the speaker to marketing, from selling tickets to renting a venue?
It will definitely cost a lot of money! Even if you only talk about marketing.
You know how much money my friend put in to organize a workshop? Close to zero!
How could that happen? How on earth that he doesn't use his own money to organize a workshop but all the profits go into his pocket?
Here is how.
He got the idea to look for sponsors for his workshop. After a few rounds of searching and corresponding, he managed to get big companies to be the sponsors for his workshop.
For companies to become my friend's sponsors, they need to contribute money to promote the workshop. This single idea helps my friend to save hundreds of thousands of dollars in marketing.
Not only that, his sponsors also help him to market and sell tickets for his workshops. He also can leverage on the sponsors' client databases.
Of course, my friend doesn't mind to give some commissions to the sponsors from the sales of tickets. It's only a small fraction of the whole profit.
By making such an arrangement, a lot of work is off-loaded from my friend. It's like having a well-oiled machine working for you without much of your involvement.
My friend doesn't need to invest a big sum of money for his workshops. Someone else will pay for his workshop expenses.
Does this sound like an excellent business idea? Of course, it does.
This is what I call ideas at work. Making money does not necessarily require huge capital, it's all about coming up with ideas that other people are willing to invest in.
As Napoleon Hill once said, "One sound idea is all that you need to achieve success." And also stressed by Robert Kiyosaki "Money is an idea."
Abel Cheng offers small and medium enterprises exclusive global profits insider tips in his free publication, Abel Cheng's Business Diary. To officiate a bi-weekly subscription, please go to http://www.abelcheng.com/diary.html
Every evening as the sun sets beyond the mangroves that... Read More
Too many people are trying to start their home businesses... Read More
As a service provider, the most important type of "boundary"... Read More
Some would say about certain issues that the means do... Read More
Site location analysis of regional service areas and planning for... Read More
Hello Creative Entrepreneurs!Thought for the day:"It is not easy being... Read More
There are many coating businesses in the market today, but... Read More
It seems odd to think of a person opening a... Read More
In a recent talk to the Detroit Economic Club, President... Read More
It is paramount that all franchising companies work hard in... Read More
The most successful entrepreneurs rely on their advisory boards to... Read More
When companies enter into negotiations with venture capital firms, there... Read More
Cash is one of the most important resources to a... Read More
Ah, coffee, the drink of choice when I want to... Read More
With the economic downturn, students in all the major business... Read More
Would you like to increase your chances of business success... Read More
Implementing changes, even when they're good for your business, can... Read More
They're really are powerful million dollar opportunites everywhere.Ok, let me... Read More
Dwight Payne and Gary Heap reside in Santa Barbara, CA,... Read More
You should wait until you're older and have more business... Read More
Jim and Sally run a successful auto business, which they... Read More
Women business owners are our only clients, so naturally we... Read More
As a first time entrepreneur, there are a variety of... Read More
A primary inhibitor of business start-up is that few people... Read More
More and more corporate workers are leaving their jobs to... Read More
Saving time means pacing yourself, being organized, and always prioritizing... Read More
You've probably heard this, or maybe you will relate to... Read More
Of all the real or perceived impediments to success, the... Read More
You've seen plenty of articles claiming to offer you the... Read More
"Berkshire Hathaway (NYSE: BRK.A) to purchase Clayton Homes for $12.50... Read More
Hello Creative Entrepreneurs!Welcome to the e-class on Creativity & Entrepreneurship:... Read More
Did you ever wonder what happens to all that government... Read More
This year, over 800,000 of the approximately 2,000,000 start up... Read More
You run a small consultancy. You're well qualified, experienced and... Read More
Mission Viejo, CA - June 14, 2005 - Bob Meyer,... Read More
How long should a business plan be? A business plan... Read More
If you have seen me speak you will know that... Read More
You've probably heard this, or maybe you will relate to... Read More
Hello Creative Entrepreneurs!Welcome to the e-class on Creativity & Entrepreneurship:... Read More
It's important to understand when to add individuals to your... Read More
As you have shown an interest in starting a business... Read More
Would you like to increase your chances of business success... Read More
It's your first business or the next Great Idea in... Read More
Dwight Payne and Gary Heap reside in Santa Barbara, CA,... Read More
Many people are starting an online business without a thought... Read More
The latest series in "The Apprentice" features 2 distinct group... Read More
There are certain traits and skills that many successful online... Read More
It's not uncommon to reach your 30s, 40s or even... Read More
What would it be worth to you to receive a... Read More
You should wait until you're older and have more business... Read More
For the past ten-months, I tried every drug from the... Read More
Why, exactly, do you want to go into business for... Read More
Franchising InformationFranchise oppotunities are all around us today. You may... Read More
They're really are powerful million dollar opportunites everywhere.Ok, let me... Read More
1) Go back to basics. Take a couple of steps... Read More
A recent poll conducted by Forbes magazine shows that majority... Read More
In each of us, there is a creative spark -... Read More
Widget sales are booming ? the competition is scrambling, demand... Read More
The definition of a startup means you have very few... Read More
In the early days of my first consulting business, I... Read More
Frequently overlooked and hidden deep within our marketing tool box... Read More
The "spark" for many entrepreneurs is seeing an opportunity that... Read More
How often have you either referred to or considered the... Read More
The most successful entrepreneurs rely on their advisory boards to... Read More
Being an entrepreneur and running a successful home-based business is... Read More
Living in the twilight zone has its advantages. In the... Read More
Entrepreneur |