Drug testing

Can You Make Money Without Money?

When I ask why you don't start your own business, I always hear, "I don't have money to start a business."

This is a common excuse people give for not starting their own business.

There is truth in the statement. You actually need money to make money or to start a business. But the question is "Do you need a lot of money or little to start a business?" and "Whose money do you use?"

Yes, I admit that it does take money to make money but it doesn't need to be your money!

Recently, one of my friends closed his restaurant business due to staff problems. But he quickly jumped to another business opportunity.

The business idea is so good that I want to share with you.

He is now running a training company. He focuses on corporate training. Basically, what he needs to do is to bring in famous trainers to his workshops. Market and promote the workshops and get people sign up for the workshops.

How much money do you think he needs to invest to organize one workshop? From getting the speaker to marketing, from selling tickets to renting a venue?

It will definitely cost a lot of money! Even if you only talk about marketing.

You know how much money my friend put in to organize a workshop? Close to zero!

How could that happen? How on earth that he doesn't use his own money to organize a workshop but all the profits go into his pocket?

Here is how.

He got the idea to look for sponsors for his workshop. After a few rounds of searching and corresponding, he managed to get big companies to be the sponsors for his workshop.

For companies to become my friend's sponsors, they need to contribute money to promote the workshop. This single idea helps my friend to save hundreds of thousands of dollars in marketing.

Not only that, his sponsors also help him to market and sell tickets for his workshops. He also can leverage on the sponsors' client databases.

Of course, my friend doesn't mind to give some commissions to the sponsors from the sales of tickets. It's only a small fraction of the whole profit.

By making such an arrangement, a lot of work is off-loaded from my friend. It's like having a well-oiled machine working for you without much of your involvement.

My friend doesn't need to invest a big sum of money for his workshops. Someone else will pay for his workshop expenses.

Does this sound like an excellent business idea? Of course, it does.

This is what I call ideas at work. Making money does not necessarily require huge capital, it's all about coming up with ideas that other people are willing to invest in.

As Napoleon Hill once said, "One sound idea is all that you need to achieve success." And also stressed by Robert Kiyosaki "Money is an idea."

Abel Cheng offers small and medium enterprises exclusive global profits insider tips in his free publication, Abel Cheng's Business Diary. To officiate a bi-weekly subscription, please go to http://www.abelcheng.com/diary.html

limousine chicago service
In The News:

Your Company Needs A Mission Statement; Make It Count

Does anyone remember that book "Built to Last" done y... Read More

Why Most CEOs & Entrepreneurs Fail?

Times are tough. The economy is in a constant state... Read More

How To Find Hot Online Business Ideas

Would you like to find the key that unlocks the... Read More

5 TIPS for Home-Based Business Entrepreneurs

Have you ever heard that only a small part (5%)... Read More

Four Steps to Entrepreneurship

As more and more people start or consider starting their... Read More

Methods of Generating New Ideas for Entrepreneurs

Summary: Even with a wide variety of sources available, coming... Read More

Everything You Wanted to Know About Public Domain Info, but Were Too Afraid to Ask!

What to Look Out For:Copyright - you absolutely must check... Read More

The Myth of Undercapitalization - Six Ways Entrepreneurs Achieve Success in Spite of Start-Up Money

This year more than 17 million people will become entrepreneurs,... Read More

Build Your Own Board Of Experts

The most successful entrepreneurs rely on their advisory boards to... Read More

Learn how to Compress Time

In the popular 1980's movie "Dune," man learned that by... Read More

Entrepreneurs Ask: As a Novice Entrepreneur, How Can I Feel Less Overwhelmed?

Great question! Overwhelm is very common even among the most... Read More

Dream It, Create It, Become It! Design a Dream Board

Have you ever heard of "Dream Boards" or "Treasure Maps"?... Read More

Before the Business Plan

Purveyors of conventional wisdom would have you believe that the... Read More

Secret Revealed In The Business Code

? Beginners often rush into business without any planning.? Unless... Read More

Walt Disneys Failures Could Inspire Entrepreneurs

You are a struggling entrepreneur and sometimes it feels like... Read More

Oil Change Guys History; Part II

Franchise companies are not born they are made and when... Read More

Self-Esteem and the Entrepreneur

Isn't it funny how people think that being self-employed is... Read More

New Rules

Last week I was working with one of my small... Read More

Cut to the Quick - What is an Entrepreneur? The Inside Story

Enjoying the title of entrepreneur is a hollow feeling.If you... Read More

Top 10 Business Plan Myths of Solo Entrepreneurs

Don't let these stop you from having a business plan... Read More

Could a Non-Profit Structure Be Right for Your Business?

If you have a business idea, or an idea for... Read More

Entrepreneurship: What does it REALLY mean?

Introduction:In a world where ideas drive economies, it is no... Read More

Seven Key Qualities of Successful Entrepreneurs

A recent poll conducted by Forbes magazine shows that majority... Read More

Determine Your Niche & Be Successful

What's a niche?Dictionary.com provides a great, twofold definition:"A situation or... Read More

How To Grow Your Micro-Business

If you want to grow your micro-business (defined as a... Read More

led street lighting fixtures parking garage lighting fixtures Pete's produce ..