If you are determined to build a booming small business that will do more than pay your basic bills, you need to find money to go to the next level.
If you want a business that will create financial freedom for you, then you will need to find money to go to the next level.
There are plenty of online marketers who want you to believe that you can start a sustainable business for next to nothing. They want to sell you something or other. Well, that is not the truth. Have you heard the old expression, "you have to spend money to make money"? It was on the button.
There are a couple of ways to find the money you will need to get you off the ground running. One has to do with your way of thinking. The other is to check out the finance ideas below.
It is quite important to determine what the minimum amount is that you will need and how you intend to spend it to gain a return on your investment. It is a calculated risk, of course. Hopefully you are soaking up the entrepreneurial skills you need to make that money work for you.
If You Need to Find Money, Look at:
- If you own a house, a small home equity loan is a common way to find hard cash.
- Persuade family or friends to invest in your start-up. Personally, I would never mix famly with business. Even if they invest only a small amount, sign a formal contract with them and plan to repay them with interest. I would never ever spend someone else's money without first properly completing the legal work. I would even have the paperwork done by professionals amd make certain that all parties sign.
- Open a credit card solely for your business. Get the lowest interest rate available to you. Determine what you can afford to pay each month and use it to finance only an amount where you can afford to easily pay a bit more than the monthly minimum. This is not ideal, but it is an option.
- Apply for a micro business loan. The Small Business Administration is usually interested in lending over $100,000, which is probably more than you need unless you are operating a retail store.
- Visit Prosper, which may be the most innovative way to obtain a micro loan.
If you are hesitant to invest in your own business, why would you expect someone else to? I do not know a successful entrepreneur who has not had the courage to invest in their own business and take some financial risk.
If you spend a lot of time thinking about how you do not have the money and how clueless you are on where to get it, you will attract more of that state of lack. Your constant "I do not have any money" thought loop is not going to help you take positive action.
If you start becoming excited about the possibilities and you believe a successful business is inevitable, you are bound to succeed because it is just in the process of manifesting.
Make a vow to yourself to get committed. You must have money to invest in a business—even if you are starting an online business. You are smart and worth it.