How to start a successful business with little or no money at all! | Niv Kaikov | Skillshare

How to start a successful business with little or no money at all!

Niv Kaikov, Life Coach /Motivational speaker/ Business Owner

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8 Lessons (20m)
    • 1. Introduction

      0:37
    • 2. Do something you love / Why?

      3:51
    • 3. I have an idea for a business now what?

      2:39
    • 4. Target audience

      1:26
    • 5. How do I invest my money?

      3:11
    • 6. Be online!

      2:42
    • 7. Social media

      3:58
    • 8. Final words

      1:24

About This Class

Hi there,

My name is Niv Kaikov, I’m a life coach, entrepreneur and a businesses owner.

In this course I will talk about the basic ideas that I use whenever i’m starting a new business. I will show you how to be clearer about your vision and your why’s?
I will share with you my own experience and give you tips how to create a successful one.

I hope you’ll enjoy it and get the most out of it.

More in depth courses coming soon.

Please, share with me and the community your own success stories.

Here are some free tools I like to use on my websites:

1 - Wix - Build a website free.

2 - Canva - Design beautiful and engaging post on any social media.

3 - Bluehost -  Buy a domain and host a website (If you do not use Wix)

4 - Mailchimp - Create a customer's database via mailing list 

Transcripts

1. Introduction: Hi. My name is named Keiko. I'm a life coach. Entrepreneur, business owner. In this course, I would like to share with you from my own experience. How to kick start a business, how to start your own venture with little money or no money at all. What are the steps that you need to do right now in order to start your business and make sure you build the foundations. Right. But most of all, I would like to show you how to enjoy the ride, how to have fun while building your business. So are you ready? Let's start unexcited. 2. Do something you love / Why?: when someone wants to open a business, create a business. I have a couple of questions or things that I tend to do before I even start the business itself. We can talk about the financial, the how to be a millionaire, how to sail online, all those things. We can do it after we understand better. A couple of things. First of all, I would say, If you're going to start a business, do something you love something that you're passionate about, something that you can imagine yourself do for the long run, especially if it's a small business. I have couple of me personally. I have a couple of things that I'm asking myself every time I'm starting a new venture. The first thing I would like to say to whoever thinks about creating a business is, Why are you doing that? What is the main reason you're starting a business? And most importantly, is it something that you love? Are you doing something that you love that you can imagine yourself doing for the long run ? If you want to build something, let's say a seasonal business that will help you financially in the short run. That's Okay, so that's your white, the financial. You just want to make a quick buck and that's it. An enclosed the business. That's okay. Me personally, I prefer long term businesses. When I whenever I build something, I have those two questions. Basically, first of all, is it something that I love? Is it something that I'm very passionate about and a I'm capable of seeing myself doing it in a long run. I wouldn't leave things two generations to come. I won't leave a mark in the world. I want to do some something good that will allow my family and my kids and my grandkids to continue to work in those businesses. I own several businesses and each of them. I'm asking myself the same questions. So first of all, is it something that I love, something that I passionate about? The second thing is, why am I doing that? Why? What are my reasons to do that type of business. For example, when I started with motivational speaking, it started as ah zahabi. To be honest, it started as a hobby. I started to talk about dreams and businesses and how to fulfill yourself with friends and family and suddenly friends of friends. They wanted to hear me. They came. Teoh asked me a couple of questions. How did you build that business? Or harder? What will be the approach for that kind of business, and how will you market this? It started to roll, and about a year and 1/2 later I found myself speaking, engaging with bigger crowds. And that's amazing. No, it wasn't planning to do ah business out of that. But I was so passionate about public speaking. I'm so passionate about talking about dreams and how to make them come true. It doesn't matter what it is. If it's a business or something personal, you know, personal growth. It doesn't really matter. But it started with real passion, and I love doing that. I can do it all day long. What happened is that after about a year, year and 1/2 once they started to do it professionally, suddenly it became a business that I'm not only that I love and I'm passionate about, but I also get paid, so that's great. That sounds great, right to do something that you love and get paid for. It sounds like a good deal to me. I want you to make a list of all your wise other than money. Why is it important to you to be successful with that specific business? The second thing I would like you to write down is what is the value that you intend to bring to your customers? It doesn't matter if you're baking cookies or you're making t shirts or you have ah, band. It doesn't matter. I want you to understand what is the value for your customer. Why are they going to buy your product? Not just because it's a cool thing. What will they have? What in that product is going to improve their life? 3. I have an idea for a business now what?: So you have an idea for a business. Now what? First of all I would say, Don't go and spend money that you don't have. You have so many things you can do before you go and spend money. The most important thing. Make sure your product is the best product you can make. So I can tell you. When I started, for example, my T shirt company, me and my partner we went and we manufactured uh, well, we manufacture 11 11 T shirts, 1111 T shirts. That was very symbolic to me. When we started the business, we went to local market and tried to sell them. See how people react to the fabric, to the prince, to the shape how how? Well, it fits on their body. And we had the most amazing experience because we learned so much. Now I know it's the long road, but it will definitely make your life easier. Because instead of me now jumping into many factor, I don't know buying from China, for example, or India or turkey, or, you know, 30,000 T shirts now and then figure out that Oh my God, the shape is not that good. Uh, the print is not very sharp. The fabric is too thick, so we invested some money. It wasn't that cheap because it is a small quantity, but it was worth it in the long run. Because now, once I know exactly that my product is working. Well, I, by the way, the T shirt that we manufacture in the beginning was a little bit too thick for for the for a lot of people from around the world, they said, it's just too hot. So, for example, I won't be able to sell that kind of T shirt here in Los Angeles because people just wouldn't buy it. You know, it's too thick, it's too hot. It's not gonna work here. So that's what I recommend to you craft your product. Make sure that it's awesome, that it's great that people like it and only then you can scale up. Okay, so now you have a product, it's ready to test it. I would like you to go ahead and ask family and friends and some strangers, if possible, and see how they react to your product. Okay, again, it doesn't really matter what what you're doing. But I want you to make a list of all the reactions that they had. Maybe they had something that you can use to improve your product. Maybe they like it. Try to collect as much as information it's possible to make short of the product is ready for production. Go ahead and do it right now. I'm waiting. Not really. It's a video. 4. Target audience: Okay, so the business is ready product wise. Now, the question is, um and it's very important question that a lot of people don't do it is recognizing and understand who is your client? Where are they? What are they doing in life? How much they spend own products like yours. So let's take, for example, a graphic designer. So if you're a graphic designer and you want to do any one of design and sail greeting cards, then you're not gonna go on market it necessarily to business owners, right? You're gonna try and reach individuals around the country or around the world? No problem. But if you're a graphic designer that would like to work with businesses, do branding build websites, designed business cards for them, then you definitely going to try and market yourself to businesses. It doesn't matter about the size of the company or what exactly they're doing, as long as you can find a solution for that specific company. But that will give you the target audience to focus all your energy and your effort. And even if you have a small budget to advertise, for example, that will give you the opportunity to be precise with the audience and with the cost of potential customers that will reach you and your business 5. How do I invest my money?: one of the most important questions people asking me is, How do I invest my money? I don't have a lot of money. What do I do right now? So I would suggest highly suggest even I understand that small business owners don't have a lot of budget, um, to hire a lot of people. But that being said some of the things that you have to invest in the beginning, we'll save you a lot of money in the future. One of those examples will be to build a business plan. Building a business plan, for example, is a wonderful tool to sort of draw a road map to where you want to, where you're starting your business and where you want to end it not exactly ended, but where do you want to be in five years from now, for example, so you don't have to be a A c p A. To build a business plan, but you do need to understand what are the costs of your business, how much money you will need in order to make. I don't know if you're if you're doing it. If you're a jewelry designer, you want to sell it online. How much money it's going to cost you to buy box off jewellery materials for you to make AH 100 jewelry, for example, how much work it's going to take. How many hours is going to take you? What would be the cost off? Shipping those jewelry's art? A heavy is a big, big a small box ISAT international National. There's so many things that you need to know right before you're starting to invest money. So I would highly recommend to build the business plan if you don't know how to do it. So you should definitely either find a friend O. R someone family member that have some experience and can help you build a business plan. Or if you're not sure that you can find someone like that, I would highly recommend hire someone professional to help you do that. Because again, a business plan is just a roadmap for you, so you'll be able to understand where you start and when you want to be. It doesn't matter if you be here in a year or five years from now, as long as you, uh, following this road map, of course it can change along the road because it's business. We have no control on so many factors. But the good thing is that if you're smart enough and you can adjust this roadmap, then you'll be fine. As long as you enjoy the journey. Enjoy the ride. After all, we agree that you're doing something that you love. Right now. We would like you to do another exercise. I want you to write down a letter to yourself. Let's say a year from now, where do you want to be? If you had the opportunity to have the best year of your life, what would it look like? Think as if you already experience this year and write down what happened in the last 12 months. Personal business wise. Go ahead and write it down. Don't try to put any boundaries or limitations. It's an imaginary exercise, but it will surely be able to help you make it a reality. 6. Be online!: Well, so now you have your product, you have a business plan. You know exactly where you want to go. I would highly suggest to try and find couple of platforms that you can start in cellular products online. Tried to understand better where your audience and where do you feel more comfortable? Is it on Amazon or eBay? Maybe on Etsy. Maybe you want to build your own website, you can do it for free again. All those platforms are free to start. You can build your website on weeks, for example. The only downside is that if you don't pay for service, I think it's like $100 a year. You're gonna have boners of weeks on the top of the bottom of the website to meet the small expense just to make sure that your your website looks professional. If you don't know how to build a website, then I would highly recommend to hire someone again. This is the face of your company. This is the face of your business. If I need Ah, an advice from an attorney. Okay about law. I'm not going to start and sit and read books and learn the law by myself. If I need some business advice, I will pay someone because they set and learn for a couple of years and they're professionals. So sometimes when you try to save money basically losing money because the time and effort you're going to spend in finding solutions by yourself you're wasting time valuable time off, focusing in marketing your product on developing your your product and your company. So don't try to save those small amounts of money, even though sometimes I know some people, it's it can be the stress just to spend those $100. But in the end of the day, he will help you tremendously to take your business to that next level. Now this. The other thing I would like to say is, you know, I saw an interview with Mark Zuckerberg a couple of months ago. You know, he invented this small website. You maybe heard about Facebook, and he said that he if he would have started business today, he would start with the mobile app. Now that's an interesting thing to say, because 80% off the people today in the world that using mobile phones are using the phone the mobile phone to do almost anything. Renews shop, send emails, whatever. Just name it. 80% of the people are going to are using their mobile phone before they go to the computer , so I would highly recommend, too. If you choose to use other platforms or build your own website, make sure that it's mobile friendly. 7. Social media: Okay, So once you have your business, sit up the product. Everything is ready. Now you need to engage with your customers. One of my favorite ways to do it is obviously social media. You have so many platforms you can use today, like Facebook, Twitter, YouTube. I would highly suggest to start and build a community for my experience again. Once you build something that is interesting and you can capture it, it's so easy today. Just take a quick shot off unknown when you're making a necklace or when you're baking your cookie or when you're making a new design for a T shirt, it's so easy to make it accessible to potential customers. Me is a customer, for example. I love watching the growth of new companies off new businesses. I like to like their pages and see the process off their growth. I like to be a part of the process, and sometimes even if they have a nice sale, a nice product that I liked, I will buy the product just because I feel belong because I relate from both sides. It could be that first of all, I like the product and I want to have it. And the other thing is that I want to support this business. So build a community. Make sure that you create good content that people will like we like to share. It will be happy to be a part of it. Don't try to sail all the time if there's something that I hate, when small business are trying to do is to sell, sell, sell all the time. Obviously, if you don't sell your product, nobody's going to buy it, so you know you have to market it. But you also have to understand that people don't like pages on Facebook, for example, because they want to see advertisements all day long. Right? When was the last time that you just for fun set down and Red Ed's, you know, in the newspaper or online? You probably don't do it if it pops up every once in a while, you know on your feet. But you don't want to be one of those pages that just bye bye my T shirt today by my tissue tomorrow, 15% today, 5% tomorrow. You know, it's just it's not going to do you any favor to your business. But for example, if you advertise, if you publish something like, Hey, I'm working on the new cool design. What do you guys think or, ah, fresh new cookie. Just bean, Uh, just begged those cookies. So what do you think? It smells amazing. But what do you think? How they look those kind of things will engage. Instagram is is an awesome way to engage with your customers. So it doesn't matter what platform you're going to choose. Just do it constantly. Do it every day. Make sure that you share something small from your business every single day with your audience. And I assure you that we time it will grow. You will have followers that will lead to more sales. It will lead to mawr. More collaboration opportunities. You would be amazed how people in other businesses like your product. You'll be amazed how many of them will approach you. We will contact you and want to do something together. So just make sure that you're using those three tools to your business to promote it. And, um, just have fun with it. You know, you're sharing your you're growing, you're doing something cool. And again As long as you're doing something that you love, it'll be easy to share with people. So when it comes to social media with highly recommend to go and research a little bit, find your competitors even see what they're doing, how they engage with their customers and as an exercise, maybe you can probably show on the project page a sample off what a post of your business will look like. Take a picture, right? Something a short description. Share with us what your intentions are when it comes to engaging with your customers. 8. Final words: So to sum up, we spoke about a couple of things that will help you to build the business and understand mechanism behind the business. We could go deeper and deeper into the business wise. And how exactly do things will do that in the future course? Right now I have one thing that is most important for you to do. Enjoy the ride. You're starting something new. It's exciting. It's a venture. It's something that you need to wake up in the morning, excited to do that and go to sleep excited from the next day to come. Just take your time. Breathe, Enjoy. It takes time to build a successful business. It takes time to understand exactly what's going on. But as long as you're having fun and you're waking up in the morning and you excited to work in that business, you're gonna be just fine. I would love to hear stories. See the project page to see what what type of business you have and just share it with the world. The most important thing, the bottom line. Have fun. I always say life is too short to waste on things that just don't make you feel good. So go and get it. Have fun. I'll see you