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Having a budget without a business idea?

  • hitmeasap Level X5
    • 8

    Write the reason you're deleting this FAQ

    Having a budget without a business idea?

    Having a budget without a business idea?

    $1000 Budget. Where Do I Start? - $500 Budget. What Should I Do? - $10,000 Budget. Tell Me What To Do!

    I bet you've seen them all. Just like I have. - Right?

    People looking for advice, suggestions, tips and tricks. People who all claims to have a budget but don't know what route to go. - I stumbled across something similar today and it was one of the funniest moments for me this week.

    Several people replied to this topic but one person said this:

    How do you have a "budget" without a business idea? That's like saying you've got 20 gallons of gas, now where should you go? The business determines the budget, not the other way around.


    - That is so true!

    I can totally see why people mention the actual "budget" they have. They do this to get more accurate answers on exactly what they should do with their money. What route to go. And if they have $1000 to invest into this, they'll probably get better answers compared to if they didn't have any money at all.. So I can see why they do this.

    That being said, it's kind of wrong. And I bet that most people who are doing this are struggling. - They need help. They need advice.

    Personally, I'm filled with hundreds of ideas, but I don't necessarily call them business ideas, as they're basically just ideas until I develop them into something other than that.

    Business idea.
    A business idea is a concept that can be used for financial gain that is usually centered on a product or service that can be offered for money. An idea is the first milestone in the process of building a successful business.

    - Source.



    You don't have a budget if you don't have a business idea. - It's simple. You have ideas and/or business ideas. It's two separate things even though it might sound similar.


    Best Regards,
    hitmeasap

    #Freelancing #Business #Ideas Freelance
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    Lynne

    Lynne

    What about me? I have tons of business ideas, loads of them but I don't have the time or the budget?

    It is actually really frustrating for me because I have so many kickass ideas that I know will work but even if I had the budget I wouldn't really trust anyone to do the job properly so that ends up with another dead end because I don't have the time available anyway!

    I guess I would rather have business ideas flowing out of me than be sitting there with money to invest and sticking my finger in the air clueless what to do with it and asking other people. In fact I find that so sad.

    I believe that the only limits we have are the ones we place on ourselves. We can go as far as our creativity takes us.
    9 years ago

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    hitmeasap

    hitmeasap

    I hear you Lynne and I'm at the same spot too. Most of the times.
    I either don't have enough money to invest, or don't have the necessary skills or enough time to pull it off.. And it's frustrating. - Especially when I know that some of my ideas are really awesome..

    So, with that being said, I have to do things differently. I usually try to find a partner. In the best possible way I can. Someone who have the skills for it, and time to pull it off. And then I'll just split the money.

    However, I often lack the investment, and I don't usually go with investors for my projects. I want to be in charge, so I usually go with workers who can do what I need them to do.. But that's also one of the reasons many of my ideas just sits there and rots.

    It's sad actually, but I guess it's the best way to go. At least for me. And at least at this time.
    9 years ago

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    jeffreyjose48

    jeffreyjose48

    This is a happy problem. Many people have tons of ideas but have no budget. This one has budget but have no ideas. I suggest if you do not have any idea to just solicit from your friends and loved ones if they have. i believe they would be there to help you get an idea.
    8 years ago

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    Cristian

    Cristian

    I see this all the time, people getting themselves into situations and industries they know nothing about, they just have a budget and want to invest and earn a profit. That's definitely not the way to go!

    If you have a budget but no ideas, well keep the money and keep doing what you already doing. Don't just go all cowboy into something you don't fully understand. Educate yourself, ready some business books, learn a new skill in that specific domain and only then think about investing in some crazy idea.
    9 years ago

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    Barida

    Barida

    In as much as some people might think that it is impossible for some people to have money as not having the business idea, I think that actually it is possible for someone not to have a business idea no matter the amount of money such person has and that is the reason going into research to discover trending business ideas one can put money it and make it big.
    9 years ago

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    vinaya

    vinaya

    I know many people who have money, however, they do not know what should they do with their money. I also know many people who have brilliant business ideas but do not have funds to get started. Many people lose money on business just because they do not work with the right idea. So, the first step begins with finding the idea that actually works. How do you know which idea will work and which will not. Whether the idea will work for you or not depends on your expertise, skills and the market.
    8 years ago

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    Corzhens

    Corzhens

    I have encountered some people who had wanted to put up a business with their excess money. Most of them were retirees who holds a big amount of their retirement pay. And their purpose in finding ideas is to have a business that will be their livelihood. That’s a normal approach for someone who is not eligible for employment anymore. But my usual reply is to place their money in real estate. Buy a lot or house and lot then rent it out. That is the safest. Do not pretend to be a businessman when you don’t have the experience. You just tend to lose your money.
    8 years ago

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    Kakashi2020

    Kakashi2020

    At times people receive some unexpected cash and when that happens, usually they would think of ways to grow their money. Most would have unrefined ideas while others won't have any. In the past whenever I received a windfall of money, I would think for days what to do with it. There are times that I would just splurge it and times which I would spend it slowly stretching it for a whole year. There are also times in which I would invest it in a small business, I would earn from it but it wouldn't last.
    7 years ago

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