How to Fund Your Business

4 replies
I don't like to be a new thread type of guy, but I wanted to share some of my experiences with other people trying to get started.

A lot of people see all the expenses required to get started that they have a hard time seeing how it can happen.

Aside from the basic costs:

Domain
Hosting
Setup
Content/Coding/Design

You've also got other misc. costs:
WSO's or Courses
Content/Articles
Software

This was one of the things that kept me from starting years ago, and I didn't realize how easy it was to actually make it work.

In my case, I started writing articles and offering Wordpress services, two things that I am good at. Pretty soon, I not only had more business than I could handle, but I also had a significant startup fund, which I've used to get me to the place where I don't have to worry where I'll buy my next WSO or graphics/site design, etc.

The key is to find something you are good at, and offer it as a service. I used WF, DP, and E-Lance, but there are plenty of places you can offer your services if they aren't web related. If you can't find any buyers, try trading services. Just find a way to sell what you know how to do.

Once you've done that, you need to be careful of getting too involved in the short term cash. Making a couple hundy per day or per week is great, but you aren't gaining any equity. You can build a brand or service during this time, but you have to remember to think long term. Move your resources towards long-term equity building, rather than the short term. If you aren't careful, you'll start to feel like a hamster running and running, while getting nowhere.

Once you've got your startup cash, start working on those equity projects. Invest in some mini-sites, or some content to flip. Grab your internet real estate and set yourself up for the future. That's what worked for me.
#business #fund
  • Profile picture of the author Kim Standerline
    I think its important to remember that you also need to feed a business.

    So many people don't realize that to make money, you actually have to spend some in nurturing your business, helping it to grow. It needs to be sustainable

    Kim
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    • Profile picture of the author Nathan Hangen
      I agree completely Kim. I had one of those "lightbulb" moments and I realized that feeding my business not only provided money towards developing it, but also had a psychological impact, which was much more important.
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  • Profile picture of the author imoutthere
    Nathan,

    Good post. Everyone is trying to do something for free or at no cost.

    But can you please go into "long term equity building"? If this were real estate of business that would make sense and you can think of multiple ways of doing so. So how can you achieve the same long term growth online?

    Thanks
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  • Profile picture of the author lstoops
    I totally agree Nathan. I got started doing the same thing...offer a service and then use the money you make to fuel what you really want to do online.
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