The short answer to the money questions is “not necessarily”. The long answer is …
When I first started this Journey to start my business, I saw lots of testimonials from people claiming to be making lots of money. As I progressed further along however, I realized that although this was true… there were people making lots of money… these people were predominantly those who were either in business for many years and had a lot of followers…or people that invested a ton of money to get their businesses started.
(It is important to remember that those who have a lot of followers are way ahead of anyone that starts off as an internet marketer from scratch, or as we refer to ourselves, as newbies. Understanding this puts things into perspective. The reality is that it is very difficult for a brand new person to make the $ that the high earners do because they either don’t have the fan following, the skills, the relationships that will lead to sales, or prior internet marketing and/or affiliate experience.)
Those who invest a lot of money do so for various reasons: to get positioned at a higher level within the company in order to get higher commissions . They also invest in training that is above and beyond what is available as part of the initial purchase into the business.
And they invest in coaches. They pay coaches big bucks for their advice, motivation and inspirations. This definitely helps to fast track their progress because they have someone who can guide them through the process, and as a result they are more likely to avoid certain pitfalls that others have to learn over time. And lastly, they invest lots of money into paid advertising and marketing activities which also tends to result in earning more than those who don’t have money or only have small amounts to invest.
So what do you do if you have no or little money?
You go at a slower pace. Instead of paying for ads, your can utilize “free” strategies, like starting a blog for example. That’s what I did (in addition to paid advertising when I had a budget). Basically, the less amount of money you invest, the longer it will probably take to reach your goal and become successful. Having money can definitely fast track this process. But back to little or no money…
A blog doesn’t require much money at all. If anything, it demands only time and maybe some computer programming skills (although that too is not absolutely necessary -as I have none of those skills myself and I’m still doing a blog). Money is only needed for web hosting and a domain name. Those costs amount to about $30 monthly.
Another free strategy is YouTube where you can make videos that promote and advertise your product. I have yet to try this strategy but have heard it is a very successful one.
Having access to start-up capital when you don’t need it can also actually stunt your growth. What is intended to help can turn out to be quite harmful because when you don’t know what you’re doing (in the beginning), you can burn through cash unnecessarily. There are many products and services that you can obtain free of charge.
Don’t focus on the money
All of these realizations made me feel better about my progress in terms of making money. I began to focus on my accomplishments instead of getting depressed about not making the money immediately. I worked and continue to work on developing my skills, increasing my knowledge base and building relationships.
Although money plays a significant role in starting a business, there are ways to start a business with little start up cash. Eventually however, the entrepreneur will likely have to invest in the business so it will grow and thrive. Also, when you aim to execute a big idea fast, an infusion of cash is necessary in many cases.
But, don’t believe the hype about needing money to start a business. It’s deceiving, and if you believe it, you could be ruining or delaying the success of your own endeavor. People who repeat such generalizations are sometimes simply trying to sound wise, learned, or they are trying to justify why they are broke.
Having no money doesn’t mean you have no resources. You’ve got something, so go get started on your new business. Invest your money or invest your time.
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