How Can I Get Money To Start My Own Business?

A persistent complaint from investors is where do I get the money? Many people see the value in buying rental property or doing fix and flips to those who want to hold for the long term. In this economic time, getting the money to do the deals is barrier for many. Private money, home equity lines, and cash are the most common ways people are buying with us, no question. However we have some new options.

For all of you who have existing companies and want to raise money to purchase machinery, or expand operations, there is more crowdfunding help on the horizon. The so-called Jobs Act that was passed in April of 2012 approves crowdfunding for raising equity capital. The rules and regulations are still being written, but sometime in 2013, companies will be allowed to secure up to $1,000,000 by issuing stock. That’s when the game will change. We can foresee this unique platform for many companies who are ripe for expansion, but can’t find the capital from banks or brett pittsenbargar to make it happen.

Always be prepared when talking with an investor. Items that you should have ready for the investor are, your executive summary,complete business plan,presentation and get ready to answer many questions. Do not give them any false statements as most investors will see through any smoke and mirrors that you throw at them.

Make sure to constantly find people who are producing the results that you desire. These people can be found at free business clubs, on the internet (like the Richdad or Tony Robbins sites.) You may not be able to afford to go to the motivational/peak-performance events, but it’s important to continue to feed your mind with good stuff.

This is a vital question every business owner must ask. If the lender does not finance your industry type, you do not want to waste your time and theirs by completing their application. Some banking and non-traditional funders finance specific industries. For example, if your small business is in the medical or construction field, you would not want to be applying to a lender who finances agricultural clients only. So, it is imperative to know what the lender’s specialty is.

When trying to raise seed capital, look at your business plan and try to figure out where the week links are. Read your plan as a investor would and ask yourself would you invest in this company? Obvious you will be biased as you wrote the plan but really try to think through the whole plan. Don’t get your friends to be on the board or help you run the company as many small companies start this way. Go out and look for retired business owners that were very successful and ask for their help. I think you’ll be surprised as to how many would offer you help. this would also look a lot stronger to your investor when they start to review your business.

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Once you’re rid of all your Bad Debt, you can start your path to financial freedom, by going into Good Debt, like buying Property and renting it out.Change your mindset on how you handle debt, and it will change your life forever.

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