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How to start a small business with no loan

The assumption behind the title "how to start a small business with no loan" is the word "successful". Anyone starting a small businesses hopes that it will be successful, but only a small percentage actually succeed. So let's start from the premise that we are starting a business that will survive.

For a business to survive, there are ONLY three things that need to happen: you need to get customers; you need to satisfy the demands of those customers; and you need to get paid. Everything else is window-dressing. So, lets look at how you can do each of the above without taking out a loan.

Getting Customers

For people to become your customers, they need to know that you exist. So get your name and contact details out there. Spend as much time as you can networking. We all know people who know other people. Don't underestimate the size of your indirect network.

Let me give you an example. I've just started to set up an electronic network using one of the free Internet tools. I've only got 3 contacts in my network so far. Yet the third degree network that opens to me (contacts of my contacts' contacts) is more than 98,000 people.

I'm not necessarily suggesting that you have to use an electronic network, although, depending on the type of business, that could be the best way to reach people. Just talking to everyone you know, telling them what you are planning to do starts the ball rolling. next time someone says to them "I wish I could find some one who could.." they will think of you and pass the word on. Run off some simple flyers or business cards and leave them with local shops, restaurants and bars. With today's technology, you can do this yourself, without incurring huge printing costs and still put over a professional image.

Make sure you are contactable at all times. The best ways to do this are by email and mobile phone. When you are starting out, you can't afford to be choosy over when you work or when you talk to people. You are there when they need you - or you are not there at all.

Have a presence on the Internet. That doesn't mean spend huge amounts of time or money developing an all-singing, all-dancing website. That can come later. For now, all you need is the equivalent of an electronic business card. Invest a small amount of money in a suitable domain name. It makes the business look bigger than it is and allows you to have a suitable email address. Having an address like mybusiness@hotmail.com is a dead give away that you are a small outfit. If you


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