We’ve all been bitten by the entrepreneurial bug at least once in our lives. If we’re being honest, chances are you were fired up for a while- maybe you even started doing something about your ideas- but then something happened that made you lose momentum.
As with most business fails stories, most people never try again. They get so traumatized by the loss of their money that they would rather keep it in a bank rather than lose it again.
That’s what brings us here today- how does a person make money without capital in Kenya?
Needless to say, making money without capital is in itself a daunting task. Add that to the fact that we live in a country with a flailing economy and it becomes almost impossible.
At this point, you’ve probably already thought of numerous ideas and ruled them out for one reason or another. The internet hasn’t been of much help either- most articles have ideas like dog walking or babysitting which are unfeasible in Kenya.
So How Does One Make Money from Nothing?
That’s a simple one. You can’t make money from nothing. Basic economics dictate that for there to be production of a good, there must be several factors at play- capital, land, labour and entrepreneurship.
Now, without capital, the only way to make money is to have more of the other factors of production to offset the gap left by the lack of capital.
It gets even harder to make money when you’re lacking more than of the factors of production. What happens when you only have your own labour and entrepreneurial skills? You’d have to apply double the effort to make up for not having land and capital.
This is how most successful small-scale entrepreneurs in Kenya have mastered the art of entrepreneurship. The physical and virtual streets of Nairobi are filled with brokers and resellers who use their smarts to make money.
How many times have you seen people posting clothes for sale in Facebook groups? Many times, I bet! These people have mastered the art of marketing goods they do not have. They only make the order for the item once they have a client who has already paid for it. To top it all off, they have even designed a system of designated pickup points inside and around Nairobi!
This is all pretty genius if you ask me!
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Just as we said earlier in this article, factors of production dictate how much goods and services, and subsequently how much money, is made.
The only way to make money without capital is to put whatever factor(s) of production you have into overdrive.
Do you have land? Do something with it. Do you have knowledge? Don’t let it go to waste! Do you have skills(labour)? Get a job and get the capital you didn’t have!