56 Ideas To Fund A Startup
2010/06/29 6:00 AM
Who isn’t hoping for money to fall from the sky when launching a new business right? In this fast moving world, there are always new ways popping up to win, find or earn money every day. My 56 Entreprenette Experts in this post, share ideas that worked for them, links to business loans, and other fresh ideas……PLUS, some super cool contests out there!! No excuses now……if you need our votes, post it in the comments below and let’s see if you can help each other out. And…..We’d love to learn about other ideas so feel free to post those in the comments too.
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There are 11 comments
Matt Seiling says: If you own your own home, there is a lot more captial in it than you probably know. Do a free home assessment and find out what your home is now worth, chances are it’s more than what you owe on it. Then you can go to the bank and get a line of credit for the difference. It’s a great way to make your living quarters work for you, instead of cost you money.
I always like to think of it as using someone else’s money (the bank’s) to fund my business without their permission!
You’ll be surprised at the results.
This is a great list Sarah. I tweeted this to my followers and facebook fans . This list is very valuable to business owners.
This is a very interesting reading Sarah thank you for this post.
Related, entrepreneurs and startups seeking funding may also want to join http://www.adwebix.com – an online service that connects entrepreneurs with investors.
Members can post funding requests, create profiles and contact other members.
It’s free and very easy to use.
[…] Etsy Momentum — 5 Crafty Business Resources You Should Know. I’m also included on this post, 56 Ideas To Fund A Startup, at The Entreprenette […]
Hi Sarah,
You need money to grow your business?
Don’t ask, “Who’s going to lend me money?”… the bank? My family?
Change your question to, “What are different sources of capital?”
The possibilities are endless. Leverage from collateral. Other people’s credit. Creative debt such as capital in exchange for equity. Time or labor in lieu of cash. Collaborative opportunities. Overlooked assets.
Thanks for the article and many thanks to your Entreprenette Experts!
Theresa
Sarah,
Great topic!
When the banks says no and you’re a B2B and or B2G start up with contracts there is an alternative to debt and equity financing available! There are trillions of dollars available from the private asset based financing world. Start-ups can gain access to this world by having Contracts, Purchase Orders and Accounts Receievables as these are all assets that can be leveraged. By leveragin these assets it will give you the upfront working capital needed to fill the contract or order for your commeical client. Best part no long term debt, no giving up one ounce of your business in equity and no credit rating needed.
Sharon Evans
Nice work Sarah and thank you for putting this together.
Some other ways to fund your start up that require no personal credit checks or guarantees are vendor lines of credit from suppliers. This helps your startup conserve cash flow and obtain products and services it may need like office supplies, shipping, web marketing services and so on but defer the payments for a later date with no interest. Usually a net 30, 60 or even 90 day terms.
Some other viable options include social loans from companies like prosper.com and lendingclub.com
If you plan to obtain funding from friends and family (P2P Loans) than you may want to consider structuring a formal loan by using companies like Lending Karma or Lend Friend. It makes the whole process simple so you can formalize a loan agreement, calculate payments, track and record payments, and have automatic payment reminders sent.
Hope this helps you all!
All the best,
Marco 🙂
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[…] July 6, 2010 · Leave a Comment Work Hard! […]
[…] of the best method to bootstrap a business is to let your customers fund it. You can establish transaction with your customers to pay the service or products in advance, […]
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It took me years to figure out how to set the right price for my product line when I first started out, so I can imagine you might be in the same situation. If you are not sure if you are making any money, then there is a good chance you’re not pricing your products correctly.
Proper costing is the lifeline to your business and profitability. Taking into consideration and finding all the hidden costs, is the key. So many people forget little things that they add up and then BOOM, you are not making any money. Once you have the actual cost (cost of goods sold) then it is easy to figure out the wholesale and retail prices so you are always making money.
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