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If you had $0 right now, where would you start?
Assuming you had no money and you just lost your job/business. Where and how would you start? (challenge: you can't take up a job)
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Rose C. Goldsmith
Fancy juicer collecting dust, banished to the back of the cupboard.
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Start a lawn mowing business. Capital requirement is really small. Alternatively, I will consider foreign exchange trading
@saswat_singh Of course, with no capital. Obtaining prop trading accounts cost really not a lot and having the skills already, it would be the most viable option for me. With the lawn business, I will have to target client with mower already so that I don't need to spend much to get started. How about that?
@saswat_singh Why will I even seek bank loan to go into forex trading? Unless you know nothing about how it works. Any suggestions on a more creative way to go rather than leveraging on an already acquired skill?
@saswat_singh You clearly got it wrong dude! You should probably take a look at what prop trading is and you will understand how I can leverage that to my advantage actually even with no money but just the skill and proper understanding of risk management
@khulanwar And what strategy will you use to generate leads for your agency at that level with little or no capital?
@saswat_singh I see, nice one. I guess you could also look up other ways to do that. Other channels like LinkedIn can also be relevant!
@rhexai i will contact friends, old client and reach out new client. or even i can offer free of charge on first project, if they happy with the result i charge them on the next .
@khulanwar That will do but in spite of offering the free trial, you must also focus on getting the money into the bank as soon as possible. This will increase your leverage
@rhexai of course. if i have 0 money i will not offer free trial. but if i left little money i will do it to big client.
@thtslunar Impressive! But then how do you intend handling the marketing? You need to promote the product.
@thtslunar Yeah, right. And probably research other viable alternatives as well that can help secure customers.
You first need money to survive.
If you can come back to your family's house.. do it.
Then, take the first job to survive but leave time to do other things (e.g. study, start a side project, look for a better job)
@alessio_mavica You can't take a job, so what do you do? I actually like the idea of moving back to your family residence since it allows you to cut down expenditure, and have time to acquire high income skill. Nice one dude!
@rhexai LOL so maybe you should start from there: why can't you take a job?
I'm trying to reverse engineering: you need to survive, so you need food and a place to live.
For the place to live: either you pay for it (but no money), or you have to find a free place. Options: family/friends or you squat in a flat (illegal)
For the food: you need someone to pay for you (again family/friends) or you hunt (LOL) or you steal (illegal again).
I don't see many options here if you don't want/can't take a job.
@alessio_mavica According to the challenge, you can't take up a job, and those require little capital to get started with. Don't you agree?
@alessio_mavica You're actually right about the other suggestions, you really need to survive to build up again! Very true
Losing a job or business can be a tough situation, but there are still ways to make a fresh start without taking up a traditional job. Here are a few creative ideas to consider:
1. Start a freelance service: If you have a skill or talent, such as writing, graphic design, or coding, you can offer your services on freelance platforms like Upwork or Fiverr.
2. Create and sell digital products: Consider creating and selling digital products like e-books, online courses, or stock photography. Platforms like Gumroad and Teachable can help you get started.
3. Start a blog or YouTube channel: Share your expertise or passion with the world through blogging or creating video content. With dedication and consistency, you can grow an audience and monetize your content through ads, sponsorships, or affiliate marketing.
4. Offer consulting services: Leverage your expertise in a specific industry or field to offer consulting services to businesses or individuals.
5. Explore the gig economy: Consider gig economy opportunities such as food delivery, pet sitting, or task-based services through platforms like TaskRabbit or UberEats.
Remember, starting from zero requires creativity, determination, and resilience. It's important to stay open-minded and explore various possibilities until you find the right path for you.
Best of luck on your journey!
Live with family/friend and create a course, or dropship business to get started
Pricey workout gear, gathering dust after one enthusiastic gym session.
Budgeting: Outline your expenses and income. Prioritize essential spending and cut back on non-essential expenses.
Emergency Fund: Start setting aside any available funds into an emergency fund. Aim for at least three to six months' worth of expenses.
Savings Goals: Set specific savings goals for short-term (e.g., a vacation) and long-term (e.g., retirement) to motivate yourself.
Investing: Start investing, even with small amounts, in low-cost index funds or other investment vehicles that align with your risk tolerance.
Upskill: Use your free time to learn new skills that can make you more employable. Take online courses, attend workshops, or read books and articles on topics that interest you. There are many free or low-cost resources available online and in your local library.