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Being a LEARNER, not MBA business plans - key to success. Are you a LEARNER?
Being a LEARNER is a Natural Talent, if you were born with it and you will never loose it. It can be a blessing or a curse in a home based business. If you develop it, it can make you a billionaire. Bill Gates, of Microsoft, did just that. If you...
Breaking the Ice and Winning Over the Client
Wherever you turn these days you’ll find articles covering every business strategy and tactic available to man from how to make a great presentation to strategies for success all the way to negotiations and prospecting and getting a client to...
One of The Best New Business Opportunities May Be Right there in Your Home - a New Daycare Business.
The day care industry is expanding. There are now more than 100,000 licensed child-care centers and 250,000 licensed family day care homes across the United States.
The market for day care increases every year as the working mother in society...
Should You Pay to Join a Business Opportunity?
If you spend any time online, surfing the Internet, or even if you spend any time reading magazines that deal with business topics, you will more than likely run across countless business opportunity offerings. Business opportunities are in...
Survival Tips For Small Businesses
You may be in Mail Order, Direct Mail, or you may be a local merchant with 150 employees; whichever, however or whatever---you've got to know how to keep your business alive during economic recessions. Anytime the cash flow in a business, large...
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The Top 6 Ways to get Home Business Financing
Once you have identified the ‘big ticket’ business idea that is going to work for you, it starts raining fire to get appropriate financing for your project. The keystone to building a successful business is your ability to raise hard cold cash. You may be planning a shoestring budget for your start up but even then every business needs some working capital for building inventory, registration fees, insurance, for buying office equipment, maybe even space. For a smart home business owner there are several ways to raise capital for the start-up.
We have summed up some of the most obvious ideas for funding and some not –so-obvious ones as well. If you have a robust business plan at hand and can identify what is the best source of raising capital for you, it shouldn’t be all that difficult to get someone to show you the way to the vault.
1. SBA Loans: The Small Business Administration is a government organization working towards promoting the small and home business segment in the US. Though SBA doesn’t issue grants or make loans directly, it is still one of the best sources of funding for the home business owner. The reason is that SBA guarantees loans made by private lenders to you as a home business owner. One of the biggest problems you will face as a home based entrepreneur looking for funding is trying to prove you are not a fraud and have the capability to return the investors’ money. So the SBA guarantee reduces or eliminates the risk inherent in a new business venture, gives credibility to your business and makes it easy for moneylenders to forward money to you.
For more information visit the SBA site at:
http://www.sba.gov
http://www.sba.gov/financing/index.html
2. Commercial banks: Taking a loan from a bank is a good option because banks don’t require you to turn over equity or company control. However, you must have the confidence and a strong plan to make your business start making profits regularly or else it can get sticky paying the bank loan back. To get access to bank loans you have to have collaterals and must be able to prove your capability in your start up area.
3. Personal Saving: This is a favorite with a large percentage of first time entrepreneurs because it is the easiest way to get money (if you have it!), and you have no liability to any outside lenders. So if you’ve been planning for your home business all along and have set some money aside, use that to kick start your venture. An ex-colleague who turned a home business owner recently decided to have a garage sale of all the stuff they didn’t need in the house anymore. I kid
you not…they raised a sizeable sum in just one weekend!
4. Family and friends: Borrowing from family or friends is a good idea when the amount you need is relatively small. It can be clubbed with part of your own savings and novel fund raising ideas like a garage sale to help finance your business. This is an easy way to raise funds, as these are the people who know you well and need fewer assurances. It is also unlikely that they will drag you to a court if your business takes longer to get profitable and repayment is delayed. But take care that money does not sour your relationships; be professional in your dealings with them and get a formal agreement drawn up in order to put the terms of the loan in writing.
5. Venture Capitalists: Venture capitalists are professional investors who may be in charge of a large pool of capital gathered from a range of sources. These firms invest in new, even high-risk or speculative businesses without a proven track record, with the potential for rapid growth and high returns in a short time. Take a look at www.vfinance.com to get you started on this line of credit.
6. Angel Investors: Angels investors are relative to venture capitalists and usually less demanding in the returns they expect. These are private investors who expect their investments to make more money than through the traditional markets. An angel investor could be your doctor, accountant or attorney who seek out new businesses to invest in return for equity ownership. Also see: www.angel-investor-news.com
Some other good sources of funding are Industrial banks, home equity loans and loans on credit cards. Some other not so obvious ways of raising capital can be equipment leasing and advertising. Another area, which you can explore, is personal grants from corporates. For more information take a look at http://www.fdncenter.org/funders/grantmaker/index.html
So arm yourself with a solid business plan, determination and the right kind of information on what investors are looking for. You will hit the ground running with some of these ideas above.
Daegan Smith is the Ex-NCAA Wrestler Turned Webmaster of Perfect Home Based Business Opportunities - The Net’s Top Growing Source for Home Business Information.
Attention: Webmasters & Web Publishers Make Money with our Free Home Business Content for Reprint at Free Web Site Content
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United States Small Business Administration |
An electronic gateway of procurement information for and about small businesses. Search engine for contracting officers, marketing tool for small firms, ... |
www.sba.gov |
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SBA |
The Small Business Planner includes information and resources that will help you at any stage of the business lifecycle. ... |
www.sba.gov |
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Main Page - SmallBusiness.com - Small Business Resources |
Find Small Business plans, advice, tutorials about organization, corporations, entrepreneurship, and smallbusiness. |
www.smallbusiness.com |
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Yahoo! Small Business: Domain Names, Web Hosting, E-commerce ... |
Yahoo! Small Business provides products and services that enable you to establish and grow your business on the Internet. Services include domain name ... |
smallbusiness.yahoo.com |
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Small business advice business start up small business finance ... |
business start up small business finance start up advice. |
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Smallbusiness.gov.au redirect to business.gov.au |
Business Entry Point - Helping small business in big ways. An Australian Government initiative. The content from this website has now been consolidated into ... |
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Business & Small Business |
Online and print small business publication. Information to help start, grow or manage a small business. |
www.entrepreneur.com |
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Microsoft Small Business Center |
Your home for information about Microsoft's small-business products and services, tailored business advice, technology tools, and more. |
www.microsoft.com |
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The Small Business Advisor - advice for starting and operating a ... |
Advice and assistance for starting and operating a small or home based business. |
www.isquare.com |
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SCORE "Counselors to America's Small Business" |
A nonprofit association dedicated to encouraging the formation, growth, and success of small business nationwide through counseling and mentor programs. |
www.score.org |
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Small Business and Self-Employed One-Stop Resource |
IR-2006-2, January 3, 2006 - Temporary and proposed regulations will significantly reduce tax filing burden for nearly 950000 small business owners. ... |
www.irs.gov |
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Welcome to Small Business BC your business resource in British ... |
BC Business Services offers assistance and resources for those running or starting a business in British Columbia and Vancouver. |
www.smallbusinessbc.ca |
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Small Business Service | Home |
Provides information and advice to help small businesses realise their potential. |
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NSW Small Business |
A site developed by the NSW Department of State and Regional Development for small businesses. Topics include management, resources, current issues and ... |
www.smallbiz.nsw.gov.au |
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Business Management & Advice: Small Business Resources & Information |
Looking for business management and advice? Our website includes small business resources and information that can help you. Visit the small business ... |
www.businessweek.com |
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Information and legal sites relevant to small business. |
smallbusiness.findlaw.com |
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Small Business Funding Opportunities (SBIR and STTR) |
Links to Small Business Funding Opportunities and SBIR / STTR Applications. |
grants.nih.gov |
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Microsoft bCentral Small Business Directory |
Directory categorized by industry with company business card feature. |
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Facilitates the sharing and exchange of information among small business development centers, the small business administration and other business-oriented ... |
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Small Business Development Corporation |
Our business information services provides guidance to improve business skills and knowledge on advice on starting, buying, selling and expanding a small ... |
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