LEVERAGING ON BOOTSTRAPPING (OR HOW TO START A BUSINESS WITH NO CASH IN NIGERIA)

11 September 2018 / By Huenation

For starters, bootstrapping simply means starting your business with little or no capital. That said, it is no news that the inability of many to start their business can largely be blamed on funds. Money is important after all. So, without wasting time, let’s get to simple, yet effective ways you can start your business with as little cash as possible.

Family and Friends
If you belong to the “Me, Myself and I” school of thought and you want to start a business, now is the time to let go of that habit. No matter how small, you can call on your close ones to help you raise funds for your business. Apart from raising funds, they can also be of help in publicizing your business and most importantly, they can become your first and possibly, most loyal clients. It is therefore important that you try as much as possible to be at peace with everyone. (Of course, that is nearly impossible but just try). You may never know whose help you will be needing someday.

Partnerships
Most of the greatest brands today were built on partnership. Brands like Google, Facebook, Microsoft, and Apple began the world-conquering campaign by starting out as brands led by two or more people. Apart from the fact that the burden of leading your new brand will now be shared with your partners, you will also have access to more manpower, financial power and of course, diverse ideas on how to run your business. Fancy titles like CEO or Founder may want to blind you to the benefits of having a partner in your business but please, don’t let ego override your intelligence. Get a partner if you need one. For instance, instead of starting a new initiative that aims at providing pads for young girls and educating them on certain life basics, you shouldn’t go through the stress of starting all over, you can just partner with an existing brand. Conflict of interest may arise of course which is why you should make the terms and condition clear enough before you begin the partnership.

Grants
If you are looking out for possible ways of getting cash to kickstart your business, grants are another means especially if you run an NGO or Social cause initiative. Thank God for internet, there are millions of opportunities online but somehow, people still lack the right information on getting grants and other opportunities. Websites like Opportunities for Africans and Opportunities for Youth, for instance, have many opportunities asides grants that you can leverage on as an entrepreneur. You should also try to apply for the Tony Elumelu Foundation grant.

The Internet
This should actually be the first but what is bad in keeping the best meal for the last course really? Absolutely. The internet is the new goldmine for every entrepreneur. With the aid of the numerous social media platforms that exist today, you can take your brand to the world at the cost of just your monthly data subscription. You can also get a website for free thanks to Wordpress, Blogger and other free website platforms. However, these free domains have their shortcomings. You can't customise them and you also have little control over the ads that run on your website. Should you want a website that is personalized to your taste and of course, to the needs of your clients, HueNation Media is the right brand to talk to.

Enough said, you should be ready to take your business to a whole new level by now. Need more advice on kickstarting your business, shoot us a mail via hello@huenation.com.ng or just call or text our hotlines +2348029221426 or +234 706 128 2516

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Good write up

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Thank you for reading.

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