| The first thing you need when you start a | | | | charge interest for their loans. You'd have |
| business is money. The next thing you need to | | | | to pay back the principal sum you borrow with |
| keep your business going is more money. There | | | | interest. Though the interest rate might |
| are lots of guides online to help you start | | | | sound managable, the interest you have to pay |
| up a business, but you have to pay to read | | | | can accumulate to a frightening sum time, |
| most of the good ones. Seems like you need | | | | |
| money to make money. A sad fact of life. | | | | A better bet is to try and get a grant. You |
| | | | can get grants for business development which |
| The good news is that you still can run your | | | | can mean the difference between a successful |
| business even if you are strapped for cash. | | | | business or giving up before the business |
| You'll have to be resourceful though. Lazy | | | | takes off due to the lack of funds. Grants |
| people need not apply. | | | | can even tide you through tough times. |
| | | | |
| Once you've got a great business idea, do | | | | On the other side of the equation would be |
| your feasibility study. Plan ahead. How much | | | | the cost cutting measures. Try not to pay for |
| would you need for this business. How much | | | | anything if an alternative is available for |
| might you expect it to earn? What is the long | | | | free. In my web business, I went for the free |
| term potential of the business? Do you plan | | | | operating system Linux and the free database |
| to run this biz for life and hand it down to | | | | Mysql and saved tremendously on software |
| your heirs or do you want to grow this | | | | costs. Instead of microsoft office, I went |
| business and sell it off? | | | | for open office which you can download for |
| | | | free online, or you could buy staroffice from |
| If you want to sell it off, you could search | | | | computer stores for a fraction of what you |
| for venture capitalists who are willing to | | | | might pay for microsoft office. Sure, free |
| fund your idea in exchange for a share of | | | | versions may not have as many versions as the |
| your company. When you do sell it off, they | | | | costly, more popular software, but do you |
| get their cut and their profits from the | | | | really need all those bells and whistles? |
| venture. Bear in mind there is no such thing | | | | Wouldn't the money be better spent on other |
| as free money. They fund your venture and | | | | business essentials? |
| they would want to make some of the | | | | |
| decisions. You'll have to comply with their | | | | Do you really need an impressive office in a |
| wishes or at least work out some compromise | | | | prestigious district? Is that really |
| both parties can live with. | | | | necessary? You could save substantially if |
| | | | you work from a home office or relocate your |
| Alternatively, whether you want to sell or | | | | office to a place where the rental isn't so |
| keep your business, if your savings can cover | | | | high. |
| the business costs and have enough for you to | | | | |
| live on for the next twelve months then you | | | | How much do you spend on the printing of your |
| can fund it yourself from your savings and | | | | materials? Business cards, mailers for |
| keep full control of your business. Or you | | | | marketing your business can be rather |
| could borrow from family and friends but make | | | | expensive. You shouldn't compromise on the |
| sure you return the borrowed cash. | | | | quality as these materials represent your |
| | | | company image. Here's where I got Free |
| If you can't muster up enough funds or you'd | | | | Marketing Materials which are beautifully |
| rather save that money for emergencies, you | | | | printed on quality paper. |
| could take a bank loan. Remember that banks | | | | |