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

____________________

Advertisement: Honest Riches - Click Here!

Advertisement: Lost AdWords - Click Here!

Advertisement: Get $1 Million A Month In Google Pay-Per-Click Ads Free! - Click Here!

Advertisement: Who Loves Money? - Click Here!

Advertisement: SEO Elite, the GrandDaddy of SEO Software - Click Here!

---

Have You Been Thinking About Owning Your Own Business? Or Becoming An Entrepreneur? Part 1

Almost every day, I talk with people who want to start their own home-based businesses. I receive an interesting reaction when I ask people, "What are you... Read More

7 Lean Marketing Laws For The Inspired Entrepreneur

The following laws will provide guidance on how to act,think and work in a lean way. You can apply these laws toall areas of your life, work... Read More

Do You Want to Just Survive or Thrive? (Part 1)

You've probably heard this, or maybe you will relate to this personally. Have you ever arrived somewhere and wondered, "How did I get here?" or "Why am... Read More

Good Questions, good Answers; Bad Questions, Bad Replies

I'm convinced that asking the right questions is one of the most important skills you need to become a successful business person. Questions have the power to... Read More

PR That Entrepreneurs Often Overlook

If that sounds like you, here's what you may be missing once the new enterprise is launchedPublic relations that really does something about the behaviors of those... Read More

Entrepreneurs: Benefits vs. Features-Know the Difference!

Entrepreneurs know their business. They know their product, their service. Many of them write creative Web sites. But, one thing they are not as adept at is... Read More

Confidence = Preparation + Courage

It always amazes me when I see someone on television holding a press conference ? a lawyer outside a courtroom, a businessperson at the launch of a... Read More

Entrepreneurship Story; Over Regulation in Franchising Final Chapter

Sally and Jim have launched their automotive franchise business and are now selling franchises; problems arise as lawyers and over regulation threaten to ruin their life's work,... Read More

How to Start a Franchise

Franchising InformationFranchise oppotunities are all around us today. You may pop into Starbucks for coffee and then head for lunch at MacDonalds before returning home and ordering... Read More

10 Essential Tips for Starting Entrepreneurs - Ignore these at your Peril!

1. Do What You LOVE: If you've chosen your business because you read that this niche was the next hot one, or because your favorite uncle (or... Read More

Learn how to Compress Time

In the popular 1980's movie "Dune," man learned that by "folding space" the distance between two points shortened and he could cover those distances faster. Around 1995,... Read More

Franchises - Emotional Fulfillment - Control Your Destiny

Does A Franchise Meet Your Needs?When you think of becoming a businessperson by making the transition from employee to Franchisee, you don't generally think in terms of... Read More

The Business Leader as Ultramarathoner

Have you ever heard of an ultramarathon? A standard marathon is just over 26 miles. An ultramarathon is usually on the order of 50 or 100 miles,... Read More

Will Your Business Survive Without You?

I had a health scare in December.As it turns out, everything's perfectly okay. But the possibility of things not being okay really knocked me for a loop.For... Read More

Hurricane Katrina, Death, and a Different Type of Entrepreneurship

I've seen terrible images today on the television and internet-bodies of the elderly and infants floating in attics, buildings collapsing, seals washing up in the middle of... Read More

Abstract Business Marketing Strategy for the Entrepreneur

If you look at those Corporations in franchising today you see the great companies that use these systems to move markets and deliver products and services to... Read More

Work On, Not In Your Business

Are you busy? Everyone's busy! Ask anyone they'll tell you how busy they are. But how many people are accomplishing real results?In your small business, it's easy... Read More

Business Start Up Tips From Some Hearty Entrepreneurs

When's the last time someone asked you: "What's new?" If you're starting or growing a business, an e-business, or a web site, the answer is: "Everything!" ?... Read More

Could a Book About Your Company be Worth $1.7 Billion? Building Value Through Publishing

"Berkshire Hathaway (NYSE: BRK.A) to purchase Clayton Homes for $12.50 in cash per share. Deal worth $1.7 Billion."From an article in the Knoxville News Sentinel -- a... Read More

Entrepreneurship: Insight and Closer Look At The Entrepreneur

Life as an entrepreneur is the American Dream. To be able to be your own boss, own your own business, never report to anyone else, work from... Read More

Is Running a Business for You?

Not everyone is cut out to run a business. Not everyone is cut out to be an entrepreneur. It takes a special talent. Some owners of small... Read More

Identify the Growth Factors

In "The Incredible Hulk", mild-mannered scientist Bruce Banner discovered that when he was exposed to "gamma rays" he was transformed into a massive beast that could ferociously... Read More

An Entrepreneur and a Life To Be Remembered

I was reminded of my own mortality today. I guess you can say I had a near death experience, though the death I experienced was not my... Read More

Entrepreneurship: What does it REALLY mean?

Introduction:In a world where ideas drive economies, it is no wonder that innovation and entrepreneurship are often seen as inseparable bedfellows. The governments around the world are... Read More

The Risks of Entrepreneurship

The "spark" for many entrepreneurs is seeing an opportunity that doesn't yet exist. Ted Turner, for example, launched CNN because he perceived that people wanted more television... Read More

Starting Your Business: 3 Tips for Bootstrapping Your Way to the Top

Bootstrapping a business startup does not necessarily mean that you are unable to find traditional sources of capital. It may mean that you are clever, or that... Read More