What to Do When You Need to Find Money

What to Do When You Need to Find Money

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:

  1. If you own a house, a small home equity loan is a common way to find hard cash.
  2. 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.  
  3. 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.
  4. 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.
  5. Visit Prosper, which may be the most innovative way to obtain a micro loan.


bigstock-Profitable-Investment-Ideas-Co-41685070If 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.


About Online Biz Boomer Babe

Rachel Lavern is a Certified Business Coach and founder of My Booming Online Business--a blog for middle-age, global, uptown women. She is on a mission to transform entrepreneurs' finances by teaching the action set, mindset and skill set needed to get launched + make money.


  1. donna merrill

    Hi Rachel,

    You have given some great ideas here of where to find some money to start up your business. I just heard a story from some “guru” on a webinar that said he and his wife took part time jobs for six months to accrue enough money to start up his business on line. Well, needless to say, this guy was so determined he has great success!

    Where there’s a will there’s a way! I think taking a credit card out that you can afford to pay off to start up is a great idea. With a little bit of creativity and determination, one can start up a business.

    I cringe when I hear “I can’t afford it!” Not to sound harsh, but to me it’s a poor excuse (pardon the pun) and also effects one’s mindset whereby they will stay in one place and never be able to afford anything.

    Way back in the old days, I wanted to open a shop but needed start up money. I wrote books and purchased lists from a list broker. Did copy writing and BOOM…I had enough of money within a few months to open that little shop of mine. That business is still going strong, even though I am not physically there anymore, but have someone else running it. Determination is the key!

    donna merrill recently posted…Sidebar BlindnessMy Profile

  2. Hi Rachel,

    I love your list of ways to find money. Some of these I was not aware of. In my opinion, if we are starting an online business or any business for that matter, we have to be ready to stay the course. We must be committed and understand it takes hard work, dedication, and YES money!

    As you mentioned, starting an online business will create a lot of out of pocket costs initially and we must be prepared for that. We must either save or utilize some of the resources you have provided for us. If we are committed and we stay committed we can and will reap the benefits on online success. Thanks for sharing.
    Nathaniel Kidd recently posted…Save Money on Buying SoftwareMy Profile

  3. Very practical advice Rachel!

    It’s funny how a serious entrepreneur such as yourself can always see or find viable financial alternatives, when and where the the unmotivated simply cannot! I like your advice, where you ask a very important question; that being who’d be willing to loan you money, if you’re not willing to invest in your own dreams!

    Besides in the beginning you typically lack a lot of the basic proven entrepreneurial skills you need in order to be successful.

    So it’s probably best that you only risk your own money. Initially anyway, until your skills and experience start to catch up with your ambitions!

    Great advice and an extremely practical post. Thanks for sharing it.
    Mark recently posted…How The Ultimate Insiders Use Incentive Programs To Drive Your Competitors Crazy! Part FourMy Profile

  4. Leslie Denning

    Hi Rachel. Ah, money. I’ve talked with SO many people who want to start a home business, but they don’t have any money. That’s one of the falsest falsehood on the ‘net. If you really dig into the gurus’ backgrounds, you’ll find that most of them were thousands of dollars in debt before they made it big.

    This is my third business, so I’ve gotten pretty immune to the money thing. If I need something, I buy it, even if I don’t have the money. I know that my investments in my business will pay off in the long run. Thanks for your ideas.

    All the best,
    Leslie Denning recently posted…Day 15 – Let’s Get PhysicalMy Profile

  5. Andy Lockhart

    Hi Rachel

    Great post and great advice. Like the suggestions for finding money to invest in your business.

    You are right that you need to speculate to accumulate and more importantly if you are not prepared to invest why would anybody else.

    The trick is usually spending that money wisely on the right things. There are plenty of people who will take your money!

    Thanks for sharing

    Andy Lockhart recently posted…The 6 Steps to growing your Sales Funnel using Social MediaMy Profile

  6. Well said – I especially like your comment about if you’re not prepared to invest in your business why would you expect anyone else to? So true! I see this with a lot of the first time authors I work with – they want to get their books into the hands of readers, struggle with the time it takes to market and build their brand, and will go to any length to keep from paying for any of it. As you’ve pointed out – if you’re serious about growing a business sooner or later you’re going to have to pony up some money.
    Marquita Herald recently posted…Healing Broken Hearts One Lick at a TimeMy Profile

  7. Nick Catricala :

    what a catchy title you have here “What you do when you want to find money” wow.. it sure attracted my attention anyway.

    Your list of places and things to do to find money is great resource.,… and useful…

    I have used some of that list in the past.. lately I use a different strategy and feel much better.. it is simple… perhaps I used the others before and some how I find this to suit me better at this time and that is.. “do with what I have at hand”…

    Thanks so much for sharing so all of us can benefit.
    Nick Catricala recently posted…A Lifetime Commitment -Part 5 of 6My Profile

  8. Hi Rachel, I totally love the home equity loan idea, as I did enjoy the rest of them that you shared in your article. Home equity loans however, must be opted for only when you now that the payables are within your reah. That said, it still holds good as a great way to get easy cash when you need it. Keep up the creative work here. I will look forward to more. 🙂

  9. Great post! Thank you for sharing these excellent suggestions! Your suggestions help many people solve their money problems. I Will follow your ideas When I need to find money. This Blog is so awesome! I have bookmarked it !
    Thanks again!
    Chinh recently posted…Product Launch Toolkit Review – Bonus And Discount 80%My Profile

  10. Hey Rachel!! You’ve suggested some great ways to find money. I’ve been seeking some ways to find money. I was doing a business and suddenly I lost my inspiration due to a great loss of my product damage. Now I’ve quit that business and looking alternative ways to find money. I don’t even have enough money for investment as well. Thus I’ve found your provided ideas quite encouraging to find money. Thanks for an excellent blog post.

  11. Hello Rachel, I completely agree with your idea of home-based working and actually brainstorming a way out to find the money. I have been working from home for the past three years and while I find it a bit strenuous at times, I also marvel a the way new opportunities come up every now and then and bring lucrative dividends. I sometimes feel that if people working from home, team up, off and on, great many opportunities akin to co-operative systems can be created. And you never know, I may be the head cashier in a co-operative store through such an understanding. What do you think?