Unfortunately many people think that they will start their businesses and cruise like a ship but that’s not the case. Many people struggle in the beginning because it’s hard to know the right timing, right place and if it is the right business. Others are struggling to get a certain amount of capital because they have a vision of how they want their businesses to look like.
It is a process and if you want to be successful, you should be willing to start from the bottom and grow gradually. Start even under a tree without a shelter, grow to afford a shelter then continue to grow until you achieve exactly what you want.
When I started my business, after I registered my company, I had only equivalent to $100.00 to start my business of brick molding.
I needed several requirements to be success
For me to run a successful brick molding business I needed a truck to carry materials and deliver bricks to customers. I needed to hire people to mold bricks. I needed to rent a brick yard for manufacturing. I needed branding and advertising, stationary, protective clothes for employees, brick molding machine and cement just to name a few. All these required a minimum amount of equivalent to $50 000.00, but I only had $100.00 in my pocket to start this venture. I want to believe many of us are in this position today. Where you want to start a business and you don’t even have 1% of the required capital. So what should you do?
I looked at all that was needed and looked at what I had in my pocket, just P1000. 00 which is equivalent to $100.00, how will I start a business that requires $50 000.00 yet I have only $100.00.
I keep repeating the numbers because those are very important to understand them. Now this is what I did, I was carrying a vision that I knew was worth more than half a million but the capital I had at the moment was too small. Many people who are in the same situation today are busy knocking at different doors for funding, banks, relatives and friends but None is giving them money. You know why, no one is interested to invest in an idea. You must start something and show people something that is existing physically not just on paper.
It took weeks to sell anything
So in my case I never wasted time looking for money, I just said to myself what can I do with that P1000 equivalent to $100.00.
It was enough to buy only 10 bags of cement at P55 (equivalent to $5.50) each. And the change I bought rivers and for brick production, a brick hand mold and hired one person who joined me in brick production.
We molded our first stock and waited for customers, it took weeks before we sold anything. We spent our time watering those 380 bricks and parking them so nicely waiting for our first customer.
In the meantime, there was some space in the brick yard, so we I decided to develop a vegetable garden.
After 2 weeks of none sales, at last we received our first customer to our business, this person just came to inquire and he wanted 1000 bricks so he told us to increase our stock. We only had 380 bricks on our stock and we didn’t have money to increase our stock but to make sure I don’t disappoint him, I promised that we will increase the stock. Before the end of that same week, another customer came but wanted 800 bricks so she paid us all the money.
I hired trucks for carrying bricks
I hired a truck to deliver the 380 bricks to our first customer. Each brick was sold at P4 equivalent to 40c so this customer paid us P3 200 equivalent to $320.00
I used all of the money to buy more cement, and river sand to mold more bricks. This time I bought more cement and our production gave us more than 1000 bricks, this means I was now able to deliver balance to our customers and phone the other customer who needed 1000 bricks.
So this circle went on and on until our revenue grew gradually. The vegetable garden also after a month we started selling vegetable at a wholesale to ladies who were selling at the shops. That was another revenue income.
The first company i registered was called Skhano Ltd
After our first 6 months in business, I hired more than 12 people. They were all wearing branded work suits under our trading name Skhano Ltd. I was able to hire a truck for deliveries full time.
With our first year in business I managed to buy our first truck. This is a very practical lesson which demonstrates that if you are determined you can start with as little as possible and grow it.
Within 2 years my company was worth more than P500 000.00 (equivalent to $50 000) but I started it with just equivalent to $100.00.
It is not about how much you have when starting a business but it is about the vision that you are carrying and how much you want to make it happen. Today someone is saying I have a business idea worth a million so I need funding of about $100 000.00. My brother, my sister No one will ever give you that money. If you are serious about business, Stand up and start developing your $10 into $15, from $15 to $20 then the process should continue until you reach your goal. That is the only way to go. Never waste your time busy writing long and lucrative business plans, submitting for funding. Even if you are to be given that funding, you still need to learn the business.
When I was working with a small capital, it was a practical lesson to learn and know my business. I challenge you today to try it.
By Dr Marambire
Check also;This is not a Paywall, but Newslex Point's journalism consumes a lot of time, hard-work and money. That's why we're kindly requesting you to support us in anyway they can, for as little as $1 or more, you can support us .
Please use the button below to contribute to Newslex Point, Inc. using a credit card or via PayPal.