Do you all believe in starting business with no or minimal capital and how?

Question

Went for a seminar yesterday and they can earn 1 million a year. Exclude insurance or property.

Answer 1

it takes time for you to get that..starting a business with minimal capital can be applicable through online...you can be a millionaire in just a short period of time..

Answer 2

It would be difficult to build a million a year business in any event.  But a small business can be started with minimal capital by renting everything required.

Answer 3

Seminars are bullcraps. They claimed to teach you how to earn big bucks but in reality the speakers are those who have the last laugh. Do you know that those seminars ads actually cost about $1000 per day (the small black and white one, with the speaker's photo in it). Surely with such a big marketing budgets, they are making big bucks out of this seminar business (otherwise they don't advertise daily).

There are indeed businesses which require little capital. But small investment means low risk and return will also be smaller. I mean let's say the bubble tea business needs a relatively small investment. It is easy to setup and we only need to buy furniture, blender, tea and the jellies. Return (profit) might be high initially, but people will soon realise that the profit-to-investment ratio is high. New competitors will soon follow and erode your profit.

This is why smaller companies are always eaten by big companies. Because the bigger your invesyment (as what the big companies have), the greater is the survivability (although geographical location might play some part).

As for the seminar, you will notice that many of those sitting next to you will also possess the same knowledge of how to get the money. So in essence, you are also competing with them in the same field. This is exactly what the speaker intended. The speaker might have this great business idea, to make money easily, but he realized that others have come about to know the idea. So instead of continuing the business, he sells the idea to the masses and let them compete with each other.

All the speaker needs is past experience and good talking skills. That's all. And he continued to earn decent money until bad feedback circulated about his strategies.

Answer 4

Don't risk with what they offer you in a seminar: seminars is the way they made the million.

To start a business you need to have a clear idea about what you can, are able and willing to do. You have to put down a clear business plan, study the feasibility of your idea, consider all the costs with a safety margin (often, if things can go bad, they do).

Then, if you understand that your idea could work, you have to prepare a presentation in order to convince others it could work, and finally you have to source the money you need to start, trying to make your debt to third parties as small and as easy to repay as you can

Answer 5

I opened my own business in 2001.  I wish i had saved a lot more.  You really need cash to get thru the bad times.  There are always bad times. I have not made any money since March but i am still confident. I would not open a business with minimal capital. /