You don’t need to win the lottery to make your dreams come true. In fact, some of the most innovative and successful company owners started with nothing. Here’s the power and advantage you and your business can gain from being broke.
Having nothing lets you make the most out of nothing, unlike others who started with substantial resources. You’ll know how to be flexible, creative, unorthodox with your few resources. There’s no better time than right now to learn how being broke is advantageous for you.
Being Broke Is the First Step to Snuffing out the Competition.
Being Unorthodox Your Resources
Necessity is, in fact, the mother of invention. Humans have a knack for finding exactly what they need to achieve their goals no matter how dire the situation is. Starting with nothing forces you to look for something, anything around that you can use to achieve your goals. Being broke forces you to look for opportunities and not wait for them to fall into your lap.
Learning how to turn anything into a tool is an essential skill, whether you have wealth or not. Understand how your resources truly work and be creative with them to have the edge over others who had everything handed to them on a silver platter. You’ll save time and money utilizing what you already have in new ways instead of searching for the “perfect solution” to a problem.
Does your band of five need to go on tour? Take one big vehicle and sleep in one hotel room to cut costs. Don’t have a high-tech sewing machine to make custom clothing? Thread, yarn, and needles work all the same, even if it takes you longer. Persistence and passion will inspire the creativity you need to make your dreams come true.
Businesses of All Sizes Need Creativity
Startups and established companies alike need to think different to keep their edge. Being, or thinking, broke isn’t the only way to approach every problem, but it’s an extremely useful starting point. Knowing how yourself, your team, and your existing tools can overcome challenges is the best way to future-proof your brand.
Our society constantly bombards us with new products that we think we need to solve a problem. That mindset trickles into the business world, too. Far too many businesses suffer from “new shiny process or product syndrome” as solutions to their issues. That type of thinking is a quick way to bankrupt your business. Asking “how can I make the most with what I already have?” removes the need to sink money into fancy new tools, products, and software that may not solve everything.
Being Broke Contributes to Your Brand
Many modern consumers want to know why you’re doing what you do, not simply that you’re doing something. The internet enables us to research many facets of a company we’re interested in doing business with. We can learn anything from where they source materials from to their marketing ethics to determine if that company is a good fit for us.
Having the title of a “self-made person” or “started with nothing” are badges of honor to both those who wear and view that status. Consumers only have so many resources of their own and “being broke” is something many of them can relate to. Forming that type of bond with your customer base is essential to any business, especially startups.
Running a business is getting cheaper by the day thanks to advances in technology. Many of those resources are free, which means you could start with literally nothing but passion for a dream. So, what are you waiting for? Go be broke and start your business today!