Share a bit more on your views here....I'm interested in hearing what you think.
Gladly. But I may talk for a while though.
So, starting a business can be daunting, and can seem very cash heavy. But in fact, there are ways of starting a business with little to no spare cash. There are so many business examples of people that started out from their own garage with little money.
Your business can either be a product or a service company. A service company it comes down to you doing the services and then collecting the payment. These type of businesses are the cheapest and easiest to start up. There are so many entrepreneurs that starts like this. They would first start providing a service first, then build the business from there.
Product based businesses may in fact need more startup capital to get off the ground though. But that is why you can start off by doing the service for a fee, and using that money coming in as a way of financing the rest of the business.
Now I know there are some cost involved in getting some instruments or equipment required to get your service based business off the ground. These costs are probably the biggest hurdle for someone to get over before starting a business. So why not see if you can in fact provide that service with the equipment you have at the moment? And if you cannot do that right now, what service can you do with your current equipment?
So, if you truly feel that you have a service that can benefit other people, there is not a lot that is stopping you actually providing that service and growing your business from there. One thing you need to take into consideration though, is to make sure you have a differentiating factor between your service and that of any competitors. Make sure you can provide a service in a way other cannot, and you will find an immediate market for that service.
Another big thing that everyone MUST have is a well thought-out business plan. A good business plan is like gold for a new entrepreneur. If fact, many Business Incubators or angle investors may take your business plan as a way of getting financing for a business. If you are able to differentiate yourself enough from any other service or product provider, these investors will not have any problem forking out the capital for your business. This is risky though, but it is completely possible to get financing for a company without putting in a cent. You may end up with a much smaller share of the company, but it's still possible.
So, to summarize, service companies are the cheapest to start getting finance for your dream business. Differentiate your service from the competition. Make sure you have a well constructed business plan.