Do You Need Money For Your Business
Yes, you do need money to run your business
There is no getting around that – whether your funding comes from an angel investor, family members/friends, your savings, your credit cards, or equity in your property(s).
Note: It’s always a good idea to get everything in writing when
dealing with money matters involving relatives or friends.
At the outset I believe you should look at the ‘normal’ sources for business funding, rather than personal sources. Always try to protect your personal credit when ever possible.
Note: always try to protect your personal assets when deciding how to
obtain business financing. If the business isn’t successful, you don’t want to
see your personal assets evaporate.
If you have a business plan, and you should when looking for outside business financing, make sure it is boiled down to it’s simplest verbage rather than giving your prospective investor the Great American novel.
One thing you might do is to find someone in the SCORE organization (Service Core Of Retired Executives) to assist you in preparing your business plan. These are folks who have been ‘around the block’ on building and operating a business. See link at the bottom of this post.
Check ths SBA website. They have some free courses that can help you with decisions you may need to make in preparing your business plan. I’ve put their link at the bottom of this post.
Your local banker might also be able to give you tips on building a good business plan. Grab some reading material on financing a business from the web or at least your local library.
Often cited as the reason for small business failures is poor management — a close second is lack of proper financing.
http://www.score.org/index.html
http://www.sba.gov/services/training/onlinecourses/index.html
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