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:

Entrepreneurship Story; Over Regulation in Franchising Final Chapter

Sally and Jim have launched their automotive franchise business and... Read More

Applying The Daffodil Theory into Business Practice

At times all of us need a bit of inspiration... Read More

Go Slow to Go Fast - Why Over 80% Of High Tech Startups Fail And What To Do About It

With billions of dollars of venture capital residing down the... Read More

Street Smarts Vs Book Smarts, What Does It Takes To Be An Entrepreneur

The latest series in "The Apprentice" features 2 distinct group... Read More

Book Yourself Solid: The Simple Selling Process

As a service provider you may not want to think... Read More

Developing A Contract

As a service provider, the most important type of "boundary"... Read More

Secrets of My Favorite Government Auction

I love bargains. And there's no better place to find... Read More

3 Essential Elements of Operating a Successful Business

Have you ever imagined what it would be like to... Read More

Three Cs - What Startups Need to Get a Business Loan, Part 1

You want to get a good, solid overview of what... Read More

Independent Auto Detail Shop VS Biz Op or Franchise

Owning a detail shop can be an exciting and rewarding... Read More

Health Insurance for Solo Entrepreneurs

One of the most important benefits employed people enjoy is... Read More

The Business Leader as Ultramarathoner

Have you ever heard of an ultramarathon? A standard marathon... Read More

... in Pursuing the American Dream

This morning I woke up at 4:30 in the morning,... Read More

Work vs Play: Which is the Better Way to Make Big Money?

If you want to make big money, you have to... Read More

The Entrepreneurs Prayer

As I awaken with the gift of yet another day... Read More

Financial Strategies for Transitioning from Salaried to Solo

7 Financial Strategies for Transitioning from Salaried to SoloA 40's... Read More

Become a Recognized Authority in Your Field - in 60 Days or Less!

You don't have to be rock-star famous before you are... Read More

Franchises - A Proven Business System

Franchises offer the first time business owner a proven and... Read More

Use Your Youth To Your Advantage

You should wait until you're older and have more business... Read More

Ten Traits of Successful Entrepreneurs

Successful entrepreneurs have many traits in common. Here are ten... Read More

Isnt it Time You Started to Fly?

I am going to begin this article by sharing a... Read More

Business Start Up Tips From Some Hearty Entrepreneurs

When's the last time someone asked you: "What's new?" If... Read More

Coating Service Business Case Study

There are many coating businesses in the market today, but... Read More

Can a Microbusiness Help You Enjoy a Better Retirement?

Not having enough money for a comfortable retirement tops the... Read More

The Role of Statistics in Prospect Modeling

Identifying prospects has come a long way since the days... Read More

solar led parking lot lights street light gallery Pete's produce ..