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on Tuesday, October 16th, 2007 at 1:37 pm and is filed under Sole-Trader, Question & Answer, bootstrap, Home Business, SOHO/SMB/SME/Micro, Self-employed, Small Business / SOHO.
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Stefan Töpfer
CEO & Chairman of WinWeb Email Me |
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I'm passionate about very small business, it's positive impact on personal lives and for local communities. Reducing small business failure is my aim and that of WinWeb's services. |
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Q & A: I have very little start-up cash?You are in a good position - because you will have to start your business by selling your service or your idea for a product, to make any money. Bootstrapping is what you need to do, you can find information about this in my categories, about bootstrapping. I can also recommend a great book I got yesterday:
In my last post, I touched on the cost to set up a home business. If you read some of the articles on the left hand side of my blog you will get a pretty good idea, what I would consider when starting out - so have a look. As a bootstrapper you will order the second-hand books of cause, won’t you. ST. Disclaimer: As with any of my readers questions, I do not have all the answers and this is not business advice, since I only know very little about your business. If any of you can add anything here do so for the benefit of my reader, who asked the question and everybody else, leave a comment below - I thank you for your effort. 
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4 Responses to “Q & A: I have very little start-up cash?”Leave a Reply |
Categories
- avoid growing pain
- be eco-friendly
- be successful
- bootstrap
- choose your office
- deal with taxes
- do a reality check
- do a SWOT plan
- do bookkeeping.
- do cost cutting
- do credit control
- do customer service
- export
- find funding
- grow your business
- handle problems
- keep data safe
- lower overheads
- manage your time
- market and sell
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http://www.gowholesale.com
Said on October 16th, 2007 at 4:35 pm
While bootstrapping is a great way to start a business on a budget, another option is self-financing. Which sounds scary but it’s definitely doable. You just need to make a detailed list of your start-up expenses and research what kind of loan you want to take out (home equity or 401K are options). Also, consider a small business loan. Since your business is new and without a track record, obtaining a loan from a bank might be difficult. However, the Small Business Administration (SBA) has a Basic 7(a) Loan Program that, if you qualify for it, can help you secure a small business loan. While the SBA doesn’t give loans, they do guarantee them, which lowers the lender’s risk and makes them more willing to grant new business owners a loan. Hope this is helpful!
http://www.winweb.com
Said on October 16th, 2007 at 5:54 pm
Great comment Rebecca, Thank you. ST.
http://www.estetiks.com/
Said on February 19th, 2008 at 9:27 am
Let’s say that you can’t raise money for whatever reason: You’re not a proven team with proven technology in a proven market. Or, your organization may be a not-for-product with a cause like the ministry or the environment. Does this mean you should give up? Not at all.
http://www.loansforhome.biz
Said on March 25th, 2008 at 9:44 pm
Exellent post thanks for sharing with us Rebecca