How Do I Get Money To Start A Business With Little To No Money?: Special Edition
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About this ebook
Do you have a great business idea? Are you considering starting your own business because you want to be able to get paid from results and not by your time? Getting paid by time will never allow you to become financially free because no matter how hard you work within that hour you will still get that hourly wage. Conversely, if you have that entrepreneurial spirit and want to get paid by results, the sky is the limit for your earning potential. This all sounds great and it is, but many people don’t know where to go get the money to start a business and that’s where "How Do I Get Money To Start A Business With Little To No Money?" comes in. It doesn't matter if you are fresh out of college or you have held a traditional job for the last 20 years, if you have that entrepreneurial spirit then this is the book for you. Here you will:
- Find out how to start a business with little to no money.
- Find out how to keep your monthly outlay low while you get your business up and running.
- Find out how to get extra help if you come from a household with a low monthly income, previously received welfare, or you have poor credit,
- Learn how to raise money for a business when traditional loans are not an option.
- Learn where to go to borrow money, if close family and friends are not in a position to support you financially.
- Learn where to go, how to approach, and what to say to the Small Business Administration, Angel Investors, or Venture Capital Firms.
- Understand how and where to get a grant to fund a business.
The truth is; there is a ton of start-up money out there that is readily available to those who want to start a business. You just have to know where to go to find this money and how to present a viable business idea to these investors and this book has everything you need to know. You deserve the best information and "How Do I Get Money To Start A Business With Little To No Money?" will deliver.
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- Rating: 5 out of 5 stars5/5Great book for the mind. Read in about a hr and half
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How Do I Get Money To Start A Business With Little To No Money? - Bobby Richardson
How Do I Get Money To Start A Business With Little To No Money?
By: Bobby E. Richardson
Copyright 2012 by Bobby Richardson
Smashwords Edition
© 2012 by Bobby E. Richardson
This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.
All Rights Reserved. No part of this publication may be reproduced in any form or by any means, including scanning, photocopying, or otherwise without prior written permission of the copyright holder.
Disclaimer and Terms of Use: The Author and Publisher has strived to be as accurate and complete as possible in the creation of this book, notwithstanding the fact that he does not warrant or represent at any time that the contents within are accurate due to the rapidly changing nature of the Internet. While all attempts have been made to verify information provided in this publication, the Author and Publisher assumes no responsibility for errors, omissions, or contrary interpretation of the subject matter herein. Any perceived slights of specific persons, peoples, or organizations are unintentional. In practical advice books, like anything else in life, there are no guarantees of income made. This book is not intended for use as a source of legal, business, accounting or financial advice. All readers are advised to seek services of competent professionals in legal, business, accounting, and finance field.
First Printing, 2012
Printed in the United States of America
This book is dedicated to anyone who is looking to continue to grow and improve themselves. You are either improving or you are on the decline, there is no in between. Let’s use a tomato for an example; when a tomato is growing it is green but once it turns red it is ripe but it also begins to die. There is no room for the tomato to be idle. If nature adheres to such a principal, then we are no different. So much respects to those seeking self-improvement and growth.
Introduction
Now is a great time for those who have that entrepreneurial spirit to either begin a new business venture or expand an existing project. Having a fantastic idea for a business is great but unless you have money to fund the project it will remain an idea. Upon finishing this book you will have learned several ways that you can raise the necessary capital for your business venture. We’re going to cover topics such as borrowing funds from family and friends, using private equity, angel investors, SBA loans, venture capitalist, etc.
Let’s begin by understanding a few reasons why you should or should not raise money for a business. The biggest reason why I would consider raising money for a business is because statistics show that the #1 reason why businesses fail is because there wasn’t enough capital to fund the project. The majority of entrepreneur who begin a business don’t have enough money to get through the learning curve of the business which is associated with any new venture. Along with having to learn the business, it takes some time to acquire your initial customer base, build relationships with the necessary vendors, buy assets and equipment, and establish several other required elements that need a certain amount of time to get going. So it may seem that when you are beginning a business you are buying time to get to a point where you can operate efficiently.
There are several reasons why you would not want to raise money for your business also. For example when you borrow money for a new venture via friends, Uncle Tommy, an investor, whatever; there will be strings attached to borrowing that money. Also, in certain cases dealing with your uncle can be harder to deal with than getting the money loaned from a professional investor.
So having a business and running it effectively is a tough task to begin with and when any type of investor gets involve a new element is created. These investor relationships are going to require time and energy. This is especially the case for those who prefer professional investors because they have now become your partner since they’ve made an investment in your business. I am not saying that they will be able to control you, but you will have to answer to them in a sense. You will likely have to provide performance/milestone updates because they will want to know how things are going. Sometimes this can put business owners on the defensive but you want to be transparent with your investors because this allows them to feel better about their investment even if things are not going according to plans.
If somebody is utilizing their hard earned money to back your business venture, they might approach you saying Hey, I really want to talk to you and find out how everything is going.
Telling them that I’m too busy
is not going to be a reasonable answer. Being dishonest and untruthful will do irreversible damage to your relationship with your investors, so it’s better to being completely honest. You have to understand that a lot of these investors are experienced, have many connections, and would love to see you prosper because they have a vested interest in your business. In other words, you can say that they have been there and done that. This is especially the case when dealing with angel investors and venture capitalist because these people once were entrepreneurs and former business owners so they understand the struggle. When you have an open line of communication with your investors you will not only build trust and rapport with them, but you will also find that they know the answer to your problems a lot of the times.
An interesting fact to point out is that there isn’t nearly as many entrepreneurs as there are investors out there today. Being what is known as an entrepreneur takes more than skill; you have to be a source of creative energy to these investors who are drained of their energy or have run out of creative ideas that could possible turn into a great business. You must give them this energy and they must feel that you possess it because they have the capital to invest and they want to make it earn.
If your business idea is on the back of a napkin it’s going to be pretty tough to raise any money if at all. The more that you go into testing and proving a thoroughly laid out business plan, the more money you will be able to receive from an investor.
Now let’s get into some meat, typically there are 5 primary ways that money is raised to establish a business. For those looking to get started in something like the health care industry could probably get a