Starting a New Business? How Much Money Do You Need?

Updated 09-2018   It never fails to amaze many of us… those many so called “experts” online who can share with you how to successfully start your own business, but….ta da..they don’t do it themselves.  I always wonder to myself–sometimes aloud, to be honest–if they are so bright and intelligent that they can share with others how to start their own businesses, why haven’t they started their businesses successfully, and they can simply tell their stories?

Storytelling is an excellent method of illustrating opportunity to others.   I am a firm believer in storytelling.

I’ve used and mentioned Executive Storytelling more than once, both online and in my Consulting practice. People relate to other people. They relate to stories.  If you can highlight for others what they might want to try to achieve success—by sharing your own experience, that just seems to come naturally when it’s time to help others learn to me.

How about you?

Now, truth be known,  you may be a bit bewildered about what you can do with the current cash you have on hand; how should you spend it and what can you do to create a business within your cashflow parameters?  You know you want to start a business, but you’re just not sure which category of business to address.

One of the best articles I’ve read recently on what to do, how to do it, and what it might cost, was written by Alex Dee of Laguna Niguel, CA.  Alex is a successful entrepreneur who owns the website, and he has written an article you should find helpful if you are noodling the best opportunities, 47 Small Scale Business Ideas to Start and Grow Earnings Online.

I was surprised at the scope of what he’s offered.  I actually saw some opportunity areas to pursue myself.  Well, maybe.  I’ve been running this Consultancy for what seems like my whole life—but in another sense, it seems like I started it only yesterday.  You’ll probably feel the same way about your business, don’t you think?

Alex has exhaustively covered many different business opportunities you might want to pursue, and has itemized them by price, so it’s not difficult for you to understand what you might invest, but also what you might be able to gain from that investment.  Interestingly enough–and I thought I knew about most Franchise Opportunities–he mentions some that I’ve never worked with or considered

Now, how about that–all important–money?

Often, we look at SBA Loans as the way to finance our startups.   LendEDU has an excellent resource, written by Shannon Serpette, entitled How to Report Income on a Small Business Loan Application.  The good news is that we’re happy to share it with you at no cost.  Reach it here.  Within the article, it explains how people should report income on a small business loan application, how to verify your income, and the difference between SBA and Non-SBA loans.   Understanding how best to report and what to report are key elements as to how long it may take to get your loan approved, how much you may qualify for, and how much collateral your bank will seek in loaning you the funds.

Most of all, have fun with your business.  Running your own business should be fun and profitable.  Work to make it that way!


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