1. Don’t quit your job yet: first things first, starting a business is risky. Starting a business with no money is even riskier. The longer you keep your job, the less pressure you put on yourself. When you start your business, you are not yet ready to walk away from a steady paycheck. It’s true that you’ll have to work harder, but you also need to pay your bills as you grow your business. Once your business starts to generate revenue, you can start thinking about transitioning out of your job.
2. Access what you have at your disposal: if you are want to start a new business without a seed capital, you should make a assessment to know what you have at your disposal that can be employed to start off your business. You will have to consider your;
Skills: what can you do?
Experience: what have you done in the past?
Knowledge: what do you know?
It is very important that you should give an in-depth thought to these questions so as to know what you have at hand already apart from your Smartphone. Go beyond what comes to mind immediately. You should do well to jot down your responses to these questions. Your written responses will help to shape the kind of business you can start with your smart phone.
3. Work on Your Business Idea: Coming up with a great business idea is just the beginning of your journey as an entrepreneur. There are many more steps that you need to take before you can get started. In order to guarantee the success of your business, you will have to flesh out your business idea.
Does your business idea bring anything new to the table? What value will it generate? Is it something your target audience really wants? Or is it something you think they’d want? Getting answers to these questions is important to determine whether or not your idea works.
4. Start with a “phone friendly” business model: you have to bear in mind that even though your Smartphone can do a lot of things, there are some businesses that you cannot just run with only a Smartphone. Certain types of businesses naturally lend themselves to being run on mobile devices, whereas others may present more challenges.
For instance, you probably cannot start a full-service web design firm with just a Smartphone. You’d need a desktop computer and some professional software in order to really get the job done. However, if you want to develop mobile apps, there are tools available for you to do that on a mobile device.
In addition, businesses that don’t require a computer or a place of business that customers visit, and require only a small amount of supplies and equipment can be easily ran with just a smartphone. For instance, businesses such as handymen, maid service, gutter cleaning, home decorator, seamstress and car detailing to name a few can be run successful with a Smartphone.
You can often get leads through home-service sites, online yellow pages, social media or word of mouth, directly to your phone– and you can work out of your home or by visiting clients at their residences or places of business. Be sure to check on any licensing and other requirements in your locale.
5. Get the right apps: to increase the functionality of you Smartphone you will need to have some apps installed in it. For some businesses, you definitely will need add-on apps. For example, to run an mCommerce business (the term “mCommerce” stands for a mobile based eCommerce business) you will need a Ecommerce application that is mobile friendly, and a fulfillment or drop ship service.
And as a writer, it might be possible to type by hand on your Smartphone’s on-screen keyboard, but wouldn’t it be so much better to use a voice transcription app of some kind? In addition, you will need basic apps necessary to run a business today.
For instance, you might need a note taking app to keep track of information and organize tasks. You probably will need some kind of expense tracking, invoicing and/or accounting software app to keep your books straight. And many businesses could use a cloud project management app, especially for businesses like event planning where organization skills are central to daily execution.
6. Master mobile communication: communication is a very important aspect of any business. As a business owner, you will need to communicate with your team members, customers or potential clients irrespective of if you have tons of expensive equipment or just a Smartphone to work with.
You will need to get used to using the small keyboard of a smart phone or find a way to get around this problem. Email is one of the most popular communication methods for mobile professionals. Even though a quick response to a business partner may contain grammatical errors and abbreviation, it’s not advisable to go down the same route when dealing with clients or customers.
So if you’re communicating with clients or anyone who might expect a detailed response, you need to take the time to communicate in a way that’s satisfactory. And if you use a voice app to dictate responses, be sure to review the communications for accuracy before sending the message out.
You can also consider having a response template prepared before hand so that you will not have to type out long information. You can also shore up your mobile communication strategy with apps like Google Hangouts, Skype or Apple FaceTime that let you communicate with others on other devices through voice, video or text chat.
7. Make social media work for you: Being active on social media is an essential activity for a lot of businesses, regardless of whether or not they’re run on smart phones. But luckily for mobile business owners, most popular social platforms have comprehensive mobile apps to make this function fairly straightforward.
In fact, some social apps like Instagram and Snapchat are only really available for full use on mobile devices. So if you’re running a business on your Smartphone, take full advantage of those social platforms by using them to showcase your social media strategy, branding and marketing from anywhere.
8. Back up important data: even though smart phones are a great business tool, a vast majority of them do not have enough storage space in them. And what space you have may be eaten up by adding multiple apps. If you’re running a business, you’re going to need a place to store all of your important documents, images, videos and other files.
In order to expand your storage space, you can get a memory card. However another more modern and secure option is to expand your data storage to a secure Cloud storage app. That way, even if your Smartphone drops into the river or is lost, your important business files will still be available and protected.
Some Smartphone companies including Apple and Samsung, have some cloud storage options that you can use for certain items. But you might also explore apps like Dropbox, OneDrive or Google Drive to store some of your important items in the cloud. With these services, you can also potentially share items with team members using other mobile devices.
9. Do all the work yourself: Starting a business with no money means that you have to learn to do things that you would normally delegate to an employee or an outside company. Granted, doing all the work yourself can be quite exhausting, but you may just be left with no other option since you do not have any seed capital. In addition doing all the work yourself will ensure that you plough back as much funds as possible back into the business.
10. Experiment and adapt: flexibility and adaptability are a competitive advantage if you want to run a business from your Smartphone. You succeed not by becoming too fixated on a single goal or outcome but by being responsive to changes in the environment.
What worked for others may not work exactly for you, so you will have to experiment, adjust and adapt your business to suit the realities on ground.
Thanks for d update