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Showing posts from April 28, 2013

The 22 Known Ways to Finance a Start-up

I was approached by a father and his teen-aged son while hosting a small business exposition some years ago.  The father asked me who to talk to at the exposition to get the $100,000 his son needed to start a business based on his son's "sure-fire idea."  Far too many prospective entrepreneurs assume this is how you fund a business: Go ask someone for a wad of cash and within a short period of time, we'll be rich.

Here is a breakdown on the 22 Known Ways to Finance a start-up.
1.Take a very sharp pencil to your personal budget and your business start-up and operating budgets.
Your primary personal source of financing for your business is yourself.If you try to get a bank or investment company, or even private investors to underwrite your business, and you haven’t put your own money in, how do you think these people will react?Working with other people’s money is an accepted business practice -- as long as you are sharing in the risk, too.To start the process, start by …