Financing Your Launch

This week's topic is about financing your launch. You have the idea. You have the passion, but do you have the money the finance your business? Having no money is like a rocket with no fuel. Do you have an angel investor?  Are you leveraged by small business loans or credit cards?

Comments

[Sandy Taylor-Furst]

If only good ideas would come with money!!! Taking risks are part of the game. To hedge the risk, I took an SBC development business plan writing course. I thought OK, now with my business plan under my arm and SBC Development Center behind me, the bank will look at my thorough business plan and give me a loan. To say the least, I walked out of the bank. They sent in a gentleman,at least 20 years my junior. He didn't even know how to read the complete packet that the bank had requested.I thought I'm not that desperate, I live in California, I can self-fund!
Ahh, 1 1/2 years from registering for SBDC and 3 months since Style Like A
Pro DVDs came on the market, I am starting to feel concerned. My husband and I agreed that the business may consume $100,000 before even the smallest of profits are recognized. Hey, I live in California, I still work at my other career,we are still able to save for our retirement,what's the big deal? The big deal is, I want to give this opportnity my ALL. Instead I'm nickel and diming it, hopefully, not to death. My next step along with finding FDM,(Fairy Dust Money)is to open a 15 month zero interest credit card,to offset my self funding interest. Is this appropriate? I don't know,all I know, is that I need to make some big sales, before I request to be seen by the dreaded bank. How sre the rest of us doing it out there?
I hope I am doing this the right way! Sandy Taylor-Furst, President, Style Like A Pro.

[Wanda]

I would not go down the road of funding your business with your credit cards. Not a good way to go cus it is tough to get back if the buisness does not perform.