At almost some point in your intrepid entrepreneurial career you will find yourself in the need of the financial wherewithal to fund the start-up or business opportunity you desire to get off the ground. Maybe it is “off the ground” per say, but needs an infusion of cash to really start producing. Learn how to fund your start-up business opportunity or franchise.
So, how do you find this seed money, float, loan, advance, cash, moolah, working capital, scratch, dough and the many other adjectives that I can think of for MONEY! If you just don’t have sufficient collateral, good credit and/or cash to finance the start-up of your venture, you need to begin looking for a partner or partners who have the finances, desire to participate in this type of start-up and need the skills and ideas you possess to make the business work. Below are my top start-up funding ideas.
My Top List of Ways To Fund Your Start-Up:
Self-funding – These include such ideas as cashing out all or a portion of your 401k, using major credit cards with high balances that you can pay back over time. I highly suggest you don’t run up your AMEX with no funding to pay the bill that is due at months end.
Crowd Funding – FlashFunders.com is a good source: Accept investments at any amount and open your offering to the crowd. Small investments are pooled into FlashFunds so you don’t have to add small investors to your cap table. Investments over $25K buy shares directly in your company.
Pawn Shop – So, this might be lower on the ladder than some are willing to go, but if you need a short-term loan fast and you do have collateral such as gold, silver, jewels, musical equipment, cars or whatever you are doubtful to get a straight-up loan from a pawn broker who isn’t bald and laughs a lot.
In closing, never let the lack of funding stop you from achieving your business goals! If you have the desire, motivation, talent and guts you’ll make it!
Carpe Diem My Friends