I have published a lot of still and motion media contents, and also literal contents on almost every discussion surrounding why money-capital should not be the reason why a person cannot start their business. But I just realized I have never made a practical example of anyone who started their business with zero money-capital, so I have to develop this content using myself and the two businesses I’ve started with zero money-capital as an example, and also, I want to get to talk about how I went about starting my businesses when I needed money buy didn’t have the money. On this topic, I will also be providing the pictorial content and the video content after this literal content, so that everyone would get to have access to me applying everything I’ve said about starting a business with zero money-capital no matter what platform of mine they are following.
Firstly, let me say again that the reason why starting small looks impossible to people who aren’t really entrepreneurs and people who don’t have the money to start their idea is because when they think of what’s needed to start a business, they think of capital—which is a very correct thing to think; every business needs capital. In fact, you cannot start a business without capital. But here is where these people mess their correct thoughts up: when they think of the capital they must have to be able to start their business, what they automatically think about is money. Here is a fact, money is but a very tiny part of what capital is when it relates to what you need to start a business; money is a tiny part but the most emphasized part. Which is why people focus so much on money when they are thinking of starting a business, and when they don’t have the money the business needs and they have no one to lend it to them, they get distressed and discouraged about the business; they abandon the idea.
I say again, money is but a very tiny part of capital when it comes to what you need to start a business, and focusing on money when you are thinking about starting your business and what you need to start your business would only make you delay when you should start the business, or even make you abandon the idea—especially if you don’t have the money, or you don’t have enough of it. When the term “capital” is used in starting a business, it means things like: money, time, human resources, information, material properties, even your health, and so on. But money is what a lot of people focus on when talking about capital; the reason for this is understandable tho, because every other thing that are parts of capital can be gotten with money, so when people focus on money when they think about capital in starting a business, we should understand why. But in the case when someone who does not have the money or does not have enough money but still they want to start a business, I always advise they leave money alone first and focus on other parts of capital they already have available and may in fact be having in abundance, which they can even trade to get the money they need. I will still talk about this when I’m talking about how I started my businesses with no money-capital. And by now, I believe you have gotten the reason why I write money as money-capital when I’m talking about money as in part of what you need to start a business.
Trying to get admission to the university since 2006 and losing on every trial till 2010, the same year I got admitted to Obafemi Awolowo University (OAU), I realized that lack of information or genuine information is the reason why I was losing all the admissions I tried to get. I wanted to solve that problem for people coming behind me and might be having same issues as I had. I thought of starting a media house because I noticed OAU did not have a functional one; the radio station (Great FM) wasn’t doing great, and it doesn’t spread beyond the community of the campus, the OAU magazine publications were becoming once in a blue moon till they eventually stopped coming, and OAU wasn’t on social media like other schools. So basically, OAU did not have a means of dispensing information to people outside of Ife. So my media house idea was really important to be able to solve the problem as I wanted to. But to start the media house I needed multi-million money, of which I didn’t even have any money saved to my name. How do we start a media house without money? How did I start what would become a media house without any money? Here you go:
- While seeking admission, having to apply and process a lot of times had gotten me familiar with staffs in the offices where admission things happen, I had a ricked BlackBerry Curve 2 which I was always having browsing data on (as constantly subscribed for me by a woman friend who liked to have me available online to chat with every time she wanted to chat).
- I created a free blog page on www.blogger.com with the name oauupdates.blogspot.com, and also created pages on Twitter and Facebook with the name OAU Updates.
- I started getting information from the offices and then I’d write about the information on the blog page and promote the link to the social media pages where people who needed the information would see them and visit the blog site to read more.
- More followers and subscribers every day as I kept keeping up what I was doing up.
- People started needing me to help them do things they had to do on OAU campus which they couldn’t come down to the school to do.
- I started charging for that.
- I couldn’t do the works alone anymore; I had to employ people, so I employed undergraduates like me who were willing to work so long any money at all comes in from there. I continued employing till I had up to 5 employees at a time.
- I hosted the blog page www.oauupdates.blogspot.com to www.oauupdates .com; which made our business even more valid and more people patronized.
- We wanted to remove the idea of specificity to OAU from the business, because we now deal with 5 other universities and more polytechnics and colleges, then we rebranded the business to Pathfinders Edu. Consultancy with the web www.pec-ng.com.
- We now deal in all educational services including migration services. We have 10 employees in total.
If you pay attention to the nature of the business we ended at, you would see it’s not really the media house I planned to create; we only have an educational consultancy, not a media how. Yes we are solving the problems we’ve always wanted to solve, but we do not have a media house. So I had another idea; to start a company to be called Primer Media and Infotech. We are going to be dealing in tech products—software development and the sale of hardware, and we are going to be dealing in digital marketing too as well as tech products analysis on the new medias, and our website is going to be www.primerinfotech.com. Yes we started this company with zero-money in 2018, and now, we have three interns, five people in the management including me, three consultants, and three tech employees. How did we do it? Almost the same way we started OAU Updates; only that we started this one with move human resources than just myself as in the case of OAU Updates, and every person involved in the starting up was willing to help with what they know and what they can do. Which is the point I always hammer on when I talk about starting small; you have to focus on the human resources you already have in abundance when thinking of the capital you need to start your business. Also focus on the information you have on the business you want to start. If you put all these factors to good use, starting any business as small as possible wouldn’t be difficult for you. I know this cos I now have two businesses I started without the money-capital I needed to start them, and the businesses are doing alright now and still growing.
Olusegun Peters is a businessman, an investor and a scholar. He is the founder of primerinfotech.com and pec-ng.com. He is passionate about contributing his knowledge to impacting as many people as possible one person at a time. Read more about Olusegun Peters here