Funding

If you have a good business idea, typically you may need to seek funding.  There’s many ways to fund a business, and I will talk about the most popular and conventional ways along with some non traditional ways I’ve been looking into.

Some things to keep in mind:

-Try not to borrow from friends and families or it can strain those relationships when things don’t go well.

-If business doesn’t go well, and you’re in debt for many years, the burden can be more emotionally draining than you expect.

-Try to think of the possibility chance that your business will do well vs. failing so that you have reasonable expectations.

There are three stages of a business you have to consider:

  1. Just starting out:
  2. Funds for covering cost of goods for sales:
  3. Funds for expansion based on prior success:

The traditional ways to get funding is:

Some new things to try: