We‘re always brainstorming ideas, yet we frequently find ourselves with limited resources to execute our “extraordinary” dreams, don’t we?
Believe me, I know everything about the “no-money” mindset. For years I struggled with this painful scarcity, in my head.
It took me multiple years to realize that this “no-money” mindset was just another excuse to avoid potential failure. Ultimately, I was evading taking accountability for my entrepreneurial success.
I remember how I found myself regularly absorbed by the “blame game” in my brain:
“I hate it; we’re forever stuck in this bad economy; when will this change?”
“It’s impossible to compete in this marketplace; those competitors don’t play by the rules!”
“My professors aren’t teaching the classes correctly. I don’t understand anything!”
“My parents don’t support my dreams; how can I ever do this alone?”
We’ve got to be careful when we fall into these victim-mode thoughts. I have discovered that these are very commonly a subconscious state of mind. These excuses become the perfect way to justify society and the world around us, our failure to overcome challenges in life.
My challenge for you today:
“If lack of capital is what’s holding you back, wake up! You just have a BAD idea!”
How long, my friend? How long will you keep waiting to find the capital your startup idea needs? Be honest, are you making daily progress? Do you even have a business plan? A sales pitch? Or are you simply sitting there “licking your wounds?”
I can help with some good ideas! Over the years I developed an honorary Ph.D. in “excusitis.” Let me share with you a good one: Blame COVID-19! I mean, really, that’s just a perfect way to explain your defeat, isn’t it?
So, what’s next? Give up? Game over? Ask yourself, could you possibly be playing the “blame game,” just like I was?
What’s behind your lack of action? What’s the real cause for you remaining stuck? Self-awareness is needed here!
Feel uncomfortable? That’s great news because you could stay stuck in this “blame game”forever!
There’s a popular fable that tells how a frog, when put suddenly in boiling water, will instinctively jump out, but if the water is brought slowly to a boil, the frog will not perceive the danger and will be cooked to death.
“But, Hector, you don’t understand! I have the perfect billion-dollar idea. I know this will be the next unicorn. I just need someone to introduce me to Elon Musk.”
Ok, maybe you do have the next billion-dollar idea, but recognize that if you’re not able to execute your marvelous idea, you MUST move on until the right time comes.
To answer your question, how can I start a company with no capital?
- Creativity is free! No money needed to invent something. Intellectual property and trade secrets can be very valuable. Patents, trademarks, copyrights, etc.
- Discipline is free! No money needed to create your personal brand. Educate yourself. Share your ideas with the world through social media. Write a book. Create videos. Work your way into the thought leader space. Eventually, your name will be valuable.
- Excellence is free! No money needed to standout. What are you known for?Michael Phelps’ net worth is estimated to be around $55 million. Gold medals and lucrative endorsements helped build his wealth.
- Self-Education is free! No money needed to grow your expertise in one of the many present-day technological shifts. The power of self-education is all over the web.
Think about this: coding skills, expertise, and creativity helped “Satoshi Nakamoto” to create Bitcoin — from nothing! Nakamoto is believed to hold up to one million bitcoins, with an estimated value of approximately $12 billion USD (as of August 2020.)
- Coaching is free! There’sno money needed to do consulting gigs. Your life experiences and experience can be very lucrative to you for many people who are willing to pay for it.
- Thinking is free! No money needed to solve problems.
- The use of your knowledge is free! Knowledge is of more value than gold in the Digital Age. Rememberthe story of the technician who walks into a factory, replaces a screw, and charges $1,000 for the job?
“Why?” the manager asked. “One thousand dollars for a screw?”
The technician answered, “Yes, that was one dollar for the screw and $999 for knowing WHICH screw to replace.”
Late in life, I concluded what my problem was: Hard work is needed!
Thomas A. Edison said it best:
“Opportunity is missed by most people because it is dressed in overalls and looks like work.”
My friend, nothing ever happens without action. No action, no progress. No progress, no growth. Get started today. Stop blaming the chaotic world we live in. I’ll let you in on a secret: it won’t get any better anytime soon.
It’s entirely up to you and me to take life by the horns and make it better!
Hector Quintanilla is an Entrepreneur and a published writer. Founder of BeBusinessSmart.com and has an Executive MBA from IPADE Business School Graduated 2001