Easy Money Makers

By Ajaero Tony Ifeanyi

Today, I will be disclosing to you the in-depth approach it takes to start up a business successfully from scratch even if you have no money. This approach is called the "Entrepreneurial process to creating a business" This is the same approach used by successful entrepreneurs to build business empires that outlive them. Entrepreneurship is like embarking on a journey; it is not a destination. No successful business was created overnight; they all went through a process and it's this process I want to reveal to you today. Now before I tell you what it takes to create a successful business, I believe it's worthwhile I tell you that not all who begin the process of starting a business will end it. Unfortunately, this is the harsh reality. Now how do you create a business from scratch and succeed, even without money?

How to Create a Business from Scratch and Succeed

1. Make up your mind to become an entrepreneur

The process to creating a business usually begins with a decision or a pattern of thinking. Before deciding to go into business for yourself, you must first have a strong reason for wanting to start a business. Have you ever asked yourself the following questions?

Why can't I be my own boss?

I am tired of this 9-5 job?

I work so hard but my boss doesn't recognize me.

Why am I working for my boss when I can go out on my own?

I am gifted, why can't I make money with my gift?

The moment you start to think over these questions, you have unconsciously began the process of creating a business. And once you decide to give your idea a go; once you decide to follow your instinct, you have taken a bold step.

2. Write a business plan

Once you have made up your mind to become an entrepreneur, the next step is to write a business plan around your idea. In this stage, I will advise you take your time to fantasize, scheme and plot. Envision yourself being in control. Analyze the possibilities of your business idea and note your strengths, weaknesses, oppositions and threats. Most people are of the opinion that you don't need a business plan to start a business but I think you do and I am saying this from personal experience.

3. Get the necessary education and experience

In the process of making initial preparations to launch your business, you are sure to make mistakes. At this stage; you will start to see reasons why creating a business is not for you. Your mind will begin to see reasons why having a job is important to your survival. You are also bound to face disappointments that will almost make you quit the process.

The heartbreaking news is that most entrepreneurs do not go pass this stage; their ideas usually die at this point due to loss of enthusiasm. I have observed entrepreneurs with good business plans; give up on the process of creating a business just because no one wants to fund their idea. I have come across entrepreneurs that modify their plan, year in year out; because they are afraid of failing.

That's why I always insist my protégés start the process of building a business; no matter how small or unprepared he or she is. I encourage them to do this so that they can master the art of making and learning from mistakes. You should do the same for yourself.

4. Create your Business

Many entrepreneurs with brilliant ideas and sound business plans never make it to this stage. They plan, scheme and fantasize but they fail to act on their ideas. If you can take a bold step and launch your business off the planning board; you have separated yourself from the multitudes of dreamers.

5. Keep the business going

Launching a business is just the starting point of the game; keeping your business afloat is the real test. This is the point where you do all it takes to stay in business. To create a really successful business, you will need to effectively deal with competition, find customers, manage critical business problems, pay several recurrent bills, handle employees and so on. This is the point where the pressure of managing a business gets worst.

6. Make more mistakes and learn

This is the point where many startups go under. This challenge of this period is the basis why 99% of all small business startup crash in their initial five years. At this stage, you are bound to make stupid business decisions that may lead to loss of cash, customers or important employees. This is the stage where you start regretting why you ever created a business. If you are not strong willed, you will forego the vision of building your own business.

When you get to this cross roads, what I usually advice is to find fresh answers. Assess yourself to see the essential entrepreneurial skills you are lacking. Attend seminars, read books on business and entrepreneurship, sought the advice a business mentor or form strategic alliances.

7. Be persistent

After finding the answers you need, you now have to apply the answers found on your business. You have to take the bull by the horn and never call it quit. Sticking to the process of creating a successful business is definitely not a piece of cake. It requires effort, patience, resources and commitment. The good news is that if you can be persistent to the course of building a business; you will end up with the business of your dreams.

8. Create a successful business

If you stay on course without giving up, you will end up having the business of your dreams in your hands. At this point, your business may no longer need your presence and your absence will never hinder its growth. This is where you commemorate your accomplishment. At this point, you can decide to sell your business, exit or stick with it. But regardless of the decision you take, the cash will keep flowing in.

9. Count your wins or losses

If you can diligently follow step one to eight of this guide, you will surely come to this point. This is where you ponder over the process you went through to build a business; the business problems you encountered and solved, the business ventures you won or lost and the failures you experienced. This is where you tell your tale of success or failure with others; this where you conclude if the entrepreneurial process was really worth undertaking.

10. Retire or replicate your success

This is the final stage of the entrepreneurial process. Less than 20% of all entrepreneurs that began the process get to this phase. At this stage, you are successful and can decide if to call it a day or repeat the process of creating a business. I said retire or repeat the process because I have seen entrepreneurs who begin the game all over again even after creating a successful business. Others will retire but return to start the process again because of the challenges and excitement involved. So whatsoever decision you reach, it is left for you.

In conclusion, these are the ten steps it takes to create a business from scratch; these are the exact steps I followed to get to where I am today. This process may take a year, two years, five years or 20 years but it surely has an end. And bear in mind that not all who began this process makes it to the end but if I can create a business from scratch starting with no money; you too can. Will you make it to the end of the process? Only you can choose your fate.

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