Editor's ChoiceFinance

No Capital? No Problem! Business Start-Up Advice

How many people would love to leave their 9-to-5 grind and go into business for themselves? While many share the dream of entrepreneurship, few have the capital required to bid farewell to bosses and schedules and set out on their own – or so they think!

The truth is that drop shipping businesses can usually be started with very little money up front.  Consider our business start-up advice to help you get into the world of entrepreneurship with minimal capital.

Do Your Homework

If you have little capital to start, you have little cash to spare. Make sure you don’t waste a penny by finding wholesalers that are reputable through business start-up advice from those who have gone before you. There is no substitute for good old fashioned research of the companies that look interesting to you.  Start by reading online reviews and heading to threads on wholesale forums like this one. When you choose the best company for your needs, you are more likely to turn that small amount of capital into decent profits within a relatively short period of time.

Start Small

You may not be able to start out with the type of business you want, but that’s perfectly acceptable.  When you start small, you assume less risk at the time when you can least afford it. If the business proves to be successful and begins to grow, you can always expand accordingly.

The advantage of a drop shipping business is that you can begin as big or as small as you like – and allow the business to grow on its own naturally without taking on debt or putting yourself in a financially risky situation. A small beginning may be the best business start-up advice someone with limited capital can get.

Think Slow and Steady

Remember the tortoise of the fable? While the hare rushed through the race, only to falter at the end, the tortoise maintained the same slow, steady pace all the way to victory. This children’s story makes for sound business start-up advice as well. Don’t be in too big of a hurry to expand, especially if you don’t have the initial capital to do so. As you grow your profits, you will also grow your reputation and customer base for a more secure company all around.

Learn the Ropes

Many of the lessons you learn from your business will be through your own experience, but you can capitalize on the knowledge and experiences of others as well through their business start-up advice. Spend time reading through forums and studying articles about entrepreneurship to educate yourself on the best marketing techniques and the most reliable wholesalers available. The more you learn through sound business start-up advice, the more successful you will be.

Starting a business with minimal capital isn’t easy, but it is certainly far from impossible. With the right preparation, a slow growth plan and plenty of good business start-up advice, you can get your home business off the ground and watch it grow into the entrepreneur opportunity you were hoping it would be.

  • H
  • December 1st, 2010
Thanks for the tips.
I agree, dropshipping is a very good way of starting up an online business. It also allows you to experiment and find out what sells best for you without tying up too much money in stock. Another advantage is that dropshipping allows you to bolt on products to your range without affecting your cashflow too much.
  • M
  • December 9th, 2010
The main disadventage for dropshipping is shipping itself. Sometimes it take to long to dispatched product to customer. Especially in bad weather condition.
  • A
    Anil Sharma
  • May 31st, 2011
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