Can You Make Money Without Money?

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

---

How Good Is Your Big Idea

Q: I want to start my own business. I have... Read More

Entrepreneurship: What does it REALLY mean?

Introduction:In a world where ideas drive economies, it is no... Read More

The Cockroach Test

Let me ask you a question? Imagine I would offer... Read More

Your Company Needs A Mission Statement; Make It Count

Does anyone remember that book "Built to Last" done y... Read More

The Magic of Float

If you've ever received a service today and paid for... Read More

The Dirty Dozen

1) No Umbrella Business Plan or Strategy -- Without a... Read More

Can You Make Money Without Money?

When I ask why you don't start your own business,... Read More

The Danger Of Hate

As you have shown an interest in starting a business... Read More

The Perfect Little Coffee Shop: Are You Afraid of Failure? Are You Letting that Failure Cripple You

Ah, coffee, the drink of choice when I want to... Read More

Business Startup Checklist

Use this comprehensive checklist to plan each step of your... Read More

Identifying the Right Venture Capital Firm Partner

Venture capital firms are comprised of individual partners. These partners... Read More

Be Where the Pucks Going To Be

The "Great One" said it bestHockey legend Wayne Gretzky, when... Read More

Is Running a Business for You?

Not everyone is cut out to run a business. Not... Read More

What Makes a Person an Entrepreneur?

Entrepreneurship is generally characterized by some type of innovation, a... Read More

How A Woman Became A Successful Bill Collector In A Mans Industry And How You Can Too!

I have worked in the credit industry for over 17... Read More

Two Types of Business Plan Executive Summaries

Companies seeking capital often ask how long the Executive Summary... Read More

Preparing to Outsource

It's important to understand when to add individuals to your... Read More

Judging Entrepreneurial Ideas

Most entrepreneurs constantly come up with new ideas. Whether they... Read More

What Part of Handwriting on the Wall Dont You Understand - They Dont Hire People Over 50

In a recent talk to the Detroit Economic Club, President... Read More

The Use of Common Stock in Venture Capital Transactions

When raising capital for a business venture, a company can... Read More

Create Your Entrepreneur Dream Team

I hear it all the time. "What should I do... Read More

Self-Esteem and the Entrepreneur

Isn't it funny how people think that being self-employed is... Read More

The History of the Franchise Business - Learning about Business Opportunities by Looking at the Past

Hair care has been around as long as humans have... Read More

New Rules

Last week I was working with one of my small... Read More

The Six ?F? Words Every Entrepreneur Should Know

Start your own business, and soon enough, you find yourself... Read More

Entrepreneurial Hate, its out there

Today, I got an email from a lady who hates... Read More

Entrepreneurial Excerpt from a Speech to Small Business

Having built a business from a bucket of water and... Read More

10 Tips for Would-be Entrepreneurs

Every evening as the sun sets beyond the mangroves that... Read More

Do You Have What It Takes To Be An Entrepreneur?

Q: I am interested in starting my own business. I... Read More

Enterprising Route is to Go Your Own Way

DON'T talk to me about education for entrepreneurs. They're pouring... Read More

Top 10 Business Plan Myths of Solo Entrepreneurs

Don't let these stop you from having a business plan... Read More

Starting Your Business By The Book

I've gotten several questions recently about the legalities of starting... Read More

Used-Book Case Study

Dwight Payne and Gary Heap reside in Santa Barbara, CA,... Read More