For Spence

How to Start a Business without Money

Several decades ago, before I got interested in starting businesses, I met a friend who went from being penniless to becoming quite wealthy in a breathtakingly short amount of time. I asked him what the secret of getting rich was.He said that you should find something that interests you and become an expert. For some reason, he became interested in turquoise and went from knowing nothing to becoming quite knowledgeable about the gem, the various sources, the market, and the players. One thing led to another, opportunities presented themselves and, presto change-o, my friend was showered with dough.When I started my first business, which was an ice cream company, I had no money, I had no business experience, and I had absolutely no idea how to make ice cream. Five years later, my ice cream was judged to be the best in America by People Magazine... What drove the growth of my business was the growth of my knowledge of ice cream. And what drove the growth of my knowledge of ice cream was my love for the stuff.When you start a business, what must lead the way should be your own interest in or love for whatever it is you want to do. Loving what you do miraculously attracts all the necessary resources, people and opportunities. You definitely don’t need money to start. Bootstrapping will stimulate your creativity and that is worth much more than money anyway.

The Lazy Way to Success: How to Start a Business without Money