How to start your own business if you don’t have much money?
Firstly, the concept of "little" is relative. How much is little? But I can give you some general advice:
1️⃣ Develop competencies in the field you want to open a business in.
2️⃣ Study. Read at least 20 books on management.
3️⃣ Create a business plan
4️⃣ Write down the period when you'll reach break-even
5️⃣ Calculate how much financial resources you'll need to reach that point
If you don't reach break-even within the timeframe you set, you close the business.
Many people make a big mistake at this stage: they invest a million and it doesn't work out, they invest more and it doesn't work out, they take out another loan, and so on... They fall into a "black hole" and lose everything.
Colleagues, share your experiences: how did you open your first business?