Saturday, March 8, 2014

Finding the Money to Start Your Own Small Business

How to Build Funds and Start a Business Venture

small business funding
Starting your own business is a dream that many people hold in common – doing something you are passionate about on your own terms is alluring. Unfortunately, many people lack the financial backing they need to begin this venture and this can hold them back from achieving their dreams. There are, however, ways to build the funds required to start a small business without having to win the lottery.

Sell Unneeded and Unwanted Items

Instead of hauling unneeded or unwanted items to the dumpster or giving them away to family and friends, think about having a yard sale. This is a great way to start building funds while decreasing clutter in your home.  Small items such as clothing, toys, and household gadgets only go for pennies on the dollar, but it is surprising how quickly that money will accumulate! If there are larger, more unique pieces such as furniture, family heirlooms, or jewelry, try selling these items online or to specialty stores.

Cut Back on Unnecessary Spending

Another simple way to help build funds is by looking at overall household spending. Discretionary spending, such as going to out to eat, cleaning services and lawn care can easily be cut from your budget helping to save hundreds of dollars a month! Having friends and family over for a cookout is definitely less expensive than going to a restaurant, and getting outside to mow the lawn or cut the hedges is not just good for saving money but also getting outside and spending time with friends and loved ones.

Start a Savings Jar

Many people abandon the idea of using a piggy bank once they become an adult, but this is actually a great way to take small amounts of money and pull them together for larger purchases. Grab an empty mason jar or coffee can and start adding coins and dollars to it every day. Whatever money is found in the washing machine, couch cushions, or in pockets after running errands should go into the jar – although it may not seem like a lot, all that leftover change adds up!

Finances and lack of funding should never hold anyone back from achieving their dreams. By doing small things like cutting back on monthly spending, having a yard sale, and collecting coin, having the money needed to start a small business can become possible. So clean out those couch cushions and dust off the old records for your yard sale – this can be the key to beginning your business venture!

Once you get your money together, it may be time to use a small business mentor to help you get your plan together. Stacy O'Quinn has learned from the best and now he wants to share that knowledge with you! To contact Stacy, click here.

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