Tuesday, April 11, 2017

How to Start a Small Business When You Have Virtually No Money

In a perfect world, we would all have unlimited capital to fund our dream businesses, never having to worry about money. That is not reality. Most of us have to be a little creative when it comes to finding the money needed to start a business. The good news is that it's possible to start a small business with very little financial investment. But before you read any further, take a minute to make sure you qualify your business idea to confirm that it's worthy of your time and attention.

If you are confident that there is a need for your business, that your products and services appeal to the right market and you already have a unique selling proposition that sets you apart from the competition, then read on for ways to cut costs when starting a business.

Thursday, April 6, 2017

Should You Use Other People's Money to Finance Your Small Business?

It can be extremely challenging to find the money to start a business. In fact, this is one of the biggest hurdles most entrepreneurs face. There are many options -- small business loans, investors, small business grants, self-financing, crowdfunding -- but the process of zeroing in on the one funding option that is best for your business may not be a clear cut process.

So, what are some things you should consider when you’re looking for capital to start your business?

The biggest question is: should you fund your business yourself, or should you use other people’s money (OPM) to get your business off the ground? Here is a look at each option.

Thursday, March 30, 2017

10 Reasons It's Never Too Late to Start a Small Business

It seems that it is often young entrepreneurs who make the headlines and receive most of the recognition for their accomplishments. Think of Mark Zuckerberg (Facebook), Matt Mullenweg (WordPress) and Pete Cashmore (Mashable) — all in their early 20s, and high up on the list of successful entrepreneurs. But the age of the founder is not the primary factor that determines whether or not a business will be successful.

These six successful entrepreneurs, with ages ranging from 40s to 60s, show that the success of a business is not directly related to the age of its founder.

In fact, there is an argument that those who start businesses later in life have a better chance of reaching success: Studies have shown that if you're over 55 years old, you are twice as likely as your counterparts who are under 35 to launch a high-growth startup. Not convinced? Here are 10 reasons you would make a better entrepreneur now than you would have when you were younger.