HOW TO MAKE EXTRA MONEY WITH ZERO CAPITAL

Money can get really tight when you are looking for a job and sometimes, even when you already have a job!  But the good news is, you can start your own business and create extra income almost immediately with ZERO CAPITAL whether you are currently employed or not.  So, are you ready to take in the secrets that I will share today?  Read closely.

You Don’t Need Money to Make Money

I was interviewed for a TV show hosted by Bishop Chito Tagle on ABC 5 and the theme of the show was “Entrepreneurship for nation building in the Philippines”. In the course of the interview, I was asked how someone can start a business when they have no money. To this I replied, “I think a lot of people have it backwards, the reason why you will go into business in the first place is because you don’t have a lot of money to begin with.”

I got a quizzical and interested look when I said this and the host asked me to elaborate further, so I replied: “In business, you do not need capital, you need customers. If you have capital but no customers, you are not in business, but if you have customers, even with no capital, then you ARE in business and you can make money”

The Zero Capital Method

Let me share with you some insights for making money without money, I call it THE ZERO CAPITAL METHOD which is really about starting your own profitable business, sideline or racket—with nothing (okay, less than a thousand pesos if you really want to be strict about it) and I don’t mean getting a loan or a hand out from your parents or relatives.

With the Zero Capital Method, you can immediately make extra money whether you are aspiring to become an entrepreneur, looking for a job or already have a job but just want extra income.  So without further ado, here are my no-nonsense learning principles and action must-do’s based on what I and my business teams do to start Zero Capital Businesses.

1. Erase from your heads that it takes money to make money – This saying is not for Entrepreneurs but for Investors. There is a big difference between the two: Entrepreneurship is about making money from nothing, Investing is about growing your money.

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2. Understand the true meaning of Capital. We loosely associate the word capital with Money. There are many other forms of capital that is not related to money but with the right plan can be made into money and a successful business. These are:

1. Talent / Skill Capital – Do you have a marketable talent or skill in something? Write it down and make your list as long as possible
2. Experience Capital – Do you have sought after experience in something? Think about how you can use that to start a business.
3. Social Capital – Do you have any Influential connections in your network whom you can tap (not to give you capital) but to open doors for you?
4. Time Capital – Do you have time? Time can be made into a business.
5. Solution Capital – Do you have Solutions to everyday problems?
6. Ownership Capital – Do you own everyday, useful equipment or property  that you can make money with?

3. Learn how to market and sell these forms of capital with ZERO Costs. The purest form of business is when you are able to sell. The sweetest form of selling is if you are able to do it without any upfront costs! If selling is not for you, partner with someone who does it well and work out a “Commission-Based-Zero-Cash-Out” arrangement.

4. Learn to negotiate. If you are used to bargain hunting and haggling in Divisoria, then this should be second nature for you. If you do not know how to negotiate, you must learn. – This is a non-negotiable. How? Go to divisoria with an experienced bargain hunter / negotiator, make a goal to buy something that you need at 50% of the asking price. If not successful, repeat until you are.

5. Learn to manage your money. In business, you can start with zero capital but you don’t want to end up with zero profits.  When you generate money, don’t spend it all on useless (non-profit generating) expenses.  Learn how to separate business and personal transactions using financial and tracking tools.

6. Learn from experience, or at least someone with experience to guide you and shorten the time to get to your goal. Do not get advice from people who have not done what you want to do and just tell you why it won’t work. Do not get advice from people who are not successful because you don’t want to end up like them. You want to end up like someone who has been down this road and who has succeeded.

Now, these 6 pointers are just the beginning of a very exciting road ahead. It is not for everyone.  But if you truly want to start making extra money now, there is no need to wait any further. All you need to do is ACT ON IT.

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Mark So is a fervent businessman, forex trader and educator.  He is the Chairman and CEO of Businessmaker Academy—a business, finance and corporate training center and the Chief Forex Trainer of Forex Club Manila.  A sought after speaker for business and forex, he is scheduled to conduct his signature workshop “Zero Capital Business” on October 17 and 24, 2009.  To know more about workshop, you may visit www.zerocapitalclub.com and www.businessmaker-academy.com or call (632)6874645.  You may email your comments and questions to:   markso@zerocapitalclub.com