And it is probably the one that represents the most limitations for entrepreneurs because they usually do not know the alternatives to obtain that capital that allows them to take the first step.
My colleague Ali Manrique publishes on his blog an excellent topic on 7 ways to finance your business startup that I share with you today.
And is that get financing for a business project It is often uncomfortable, especially if your options represent commitments with third parties.
The ideal for everything entrepreneur It would be to be able to have your own savings or capital to avoid having to commit to other people or financial entities, however it is a necessary and convenient step when it is carried out under the guidance of a good business plan that guarantees the profitability of the business, which is what investors are ultimately looking for.
Remember that Robert Kiyosaki teaches us that it exists “good debt” Y “bad debt“and that the difference lies in the purpose and control that we maintain over said debt and if it ultimately generates assets or liabilities.
In the post Ali Manrique, shares 7 practical ways to get the financing you need to turn your ideas into business.
Ways to get money to start your business
- Bootstraping
- Friends and family
- Banks
- Grants
- Angels
- Risk capital
- Clients and suppliers
Each of these methods of course has its particularities that will have to be analyzed and adapted to each special case since the conditions may vary from one entrepreneurship to another and from one country to another.
My advice first is that you can read the full article on 7 ways to finance the start of your business on the Crisis, Negocios y Dinero blog and then adapt each of these proposals to your business project.
And you, how did you start your company? What compounding method did you use to get started? What mistakes would you suggest avoiding? If you can share your experience, you will be helping other entrepreneurs to learn and refine their decisions and methods about how to raise capital for their business.
Original source: Blog Crisis, Negocios y Dinero by Ali Manrique.
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