Starting a Business without Money
Is it possible to start a business without money? At the Academy, our answer is a resounding, yes!
While it may seem counterintuitive, the Academy’s principle of starting with the resources you have - even if you don’t have any assets or capital - is highly effective. This principle is put into practice right away with our paperclip trading activity. Individuals are tasked with trading an object of little value, such as a paperclip or even a pebble, to an object of higher value. This trading is repeated until the object obtained can be traded for cash, etc to provide start-up funds for the individual’s income generating activities (IGA).
Martin Burt, social entrepreneur and thought leader in social innovation recently claimed, “[anyone] can lift themselves out of poverty...through self-help, encouragement, mentoring and compassionate support.” Additionally, several studies have indicated that this method, sometimes referred to as “household empowerment,” is highly effective in reducing poverty.
Although we do not provide financial assistance or loans to our members, the Academy programs do provide the necessary tools for our members’ success -- including lifelong support. As our members take part in our programs, they learn and practice the principles to be successful in spite of all obstacles, ultimately developing a mindset of self-reliance. Our members have produced extraordinary results from applying these tools correctly.
For example, during the year 2020, more than 15,000 people around the world participated in our Start Now! training program. Of these, nearly 80% created an IGA during a global pandemic! The majority of these IGAs were started by members who lost their employment during the pandemic, but were able to replace their income in as little as four to six weeks. Additionally, many of our members were then able to help others attain self reliance after they met their own goals.
For example, Start Now! graduate, Louie Tapiador, from the Philippines used this experience to bless the lives of others. He said, “By attending the Start Now! Online training, I got a brilliant idea to start my own business from zero capital by selling garden soil fertilizers. I am the branch president in our ward and I want to invite my fellow members to do the same.” After just one month, Louie’s hard work not only achieved his self-reliance goal, but also inspired many people in his branch to attain the path of self-reliance. Pacencia A. Casingal, a Rice Distributor in the Philippines shared, “We were able to bring back our business because of Start Now! Online training and had the opportunity to help other people.”
CEO Robert Heyn has said of the Academy’s program, “We believe that every person is a child of Heavenly Parents. We believe that each person possesses divinely-given talents. And, the Academy’s curriculum focuses on encouraging our members to strengthen themselves to develop their spiritual and temporal gifts and achieve their divine potential. As our members learn to develop their divine identity, we believe this will strengthen not only the individuals, but their homes and families -- contributing to a healthier, stronger society. We believe that all human beings have the potential to lift themselves out of poverty when provided the correct tools.”
1. https://nextbillion.net/who-owns-poverty-martin-burt/
