How to opening a business with no money? Searching Bad Credit Business Loans? Consider Bootstrap Financing!
Have you considered bootstrap financing? Searching for information on bad credit business loans? Millions of would be enterprises just like you, are frustrated because they just can't seem to qualify for traditional bank loan financing.
My Personal Journey
Here's why you should avoid bad credit business loans at all cost…
Our company was sold off, as well as our big "American style" home and most of our assets. (We were masters at living way beyond our means.) Although we netted a nice profit, we were living in a credit nightmare. Since our business was seasonal (we sold educational supplies to the schools, universities, etc.), our operating costs were fairly high. About 4 years ago, my husband and I sold off all of our assets in Ireland and moved to Georgia to escalop debt. Cash flow was a real concern. For almost 7 months of the year, our small company survived on a business line of credit –- essentially a BIG bank loan. Believe me when I tell you that we had many sleepless nights and an awful lot of stress.
This was just not a viable option for us. We decided to rely solely upon bootstrap financing to get our business up and running. It was then that I embroiled on a journey to learn all that I could about starting a business without bank loans. I now run three p. My quest for information and creative solutions is what spurred me to become a Certified Start-up Business Consultant who specializes in cost reduction strategies for new start up businesses. Profitable businesses –- without owing any money to lenders. It's a great feeling.
After selling off everything, we moved to America and started all over again. Since neither my husband nor I had any established credit, we did not have access to traditional bank loan financing when we started our business in Georgia. After contacting a start-up consultant, it was suggested that we apply for "bad credit" business loans as a means of funding our new business.
Don't Be Tempts To Dig a Deep Bad Credit Black Hole!
If you are overextended, with a mountain of debts you just can't seem to tunnel your way through, there is still hope. Don't let anyone tell you that the only way that you can fund your start-up is to rely on bad credit business loans -- even though you may have less than perfect credit or don't own a home. You can achieve your dreams of owning your own business without borrowing money. I have personally seen this dream come true for many of my clients.
The Secret is Bootstrapping
Honestly asses where you are right now financially, and how you got there. You just need the know-how. The secret ingredient for learning how to start a new business without bank loans is to bootstrap. Before you can get started with bootstrap financing, you may need to make some lifestyle changes. This is the first step to getting out.
Small Business Funding: Find Money to Start a Business Without Start Up Loans
Having done it both ways (with start up loans and by bootstrapping) I can honestly tell you that bootstrapping is what I practice and preach. I would have pacing the floor when we were first starting out in business and I remember all too well the sleepless nights my husband. We were "up to our eyeballs" in bank debt – all the while juggling cash flow from our seasonal business. Although we had a very profitable company with annual sales of $2.7 Million, we soon realized that funding our small business with debt financing was eating up all of our profits! This is just not the case with a bootstrapped business. The profit you make is the profit you keep.
Have you been haplessly searching for small business funding for a new venture? Well, without the need for HUGE start up loans and today I'm going to share my #1 secret with you for finding money to start a business. Drum roll please. The secret is Bootstrapping. I know it sounds quite simple, but it is no less defective. Unfortunately, many of us have been trained to believe the only way to start a successful new business is with bank loan financing. This is simply not true.
Now I teach budding entrepreneurs the secrets for finding small business funding without BIG bank loans. I love my job as a Certified Start Up Business Consultant. I would have never taken this career path if I had not experienced first-hand, the perils of building a new business on a mountain of debt from huge start up loans.
If for some reason you cannot repay the debt, the lender takes possession of everything that you've worked so hard to build. We ended up selling that business in March 2005 – and never looked back. It did however teach us a valuable lesson: never use borrowed money to start a business if you can help it! The repayments inhibit true growth by eating up all of profits – and you're still not free. The borrower becomes the servant (some say slave) of the lender, until the debt is paid in full.
Best Business to Start With Less than $100.
Move In/Move Out Cleaning Service – This is one of my recommendations for the best business to start for under $100! It gets my top rating because, (1) it requires very little money to start, (2) you can start up immediately; and (3) you can continue to grow this business by bootstrapping. Advertising and promotion for this business is also quite easy and affordable.
Marketing Tips to Help Get You Started
Finding customers for a Move In/Move Out Cleaning Service needn't break the bank. Try forming partnerships with other related businesses, offering them a commission or referral fee. Here are some possible partners:
· Apartment Finding Services
· Moving Companies
· Construction Companies and Small Home Builders
· Self-Storage Facilities
· Moving Truck Rental Companies
· Self-Storage Facilities
· Realtors
How Did We Get Here?Inflation also sparks a decline in gross domestic product, which refers to the output of all products and services produced in the nation by businesses, like your employer. (So, by learning how to start a business without bank loan financing, you are essentially breaking a link in the debt chain.)
This weakens the buying power of your dollars, which causes most people to "put the brakes" on spending. Especial if that spending is not cash spending, but credit spending. The short answer to what causes a recession, is inflation. Inflation occurs when the cost for products and services continues to rise over a sustained period
The vicious cycle results in home foreclosures, government bailouts of banks (when mortgages are defaulted), and the like. It all perpetuates because of a dirty, four letter word -- D-E-B-T!
Once consumers begin guarding their dollars, business owners feel the brunt of decreased sales revenues, leading to cuts in overall spending – and ultimately job losses. There is no doubt that recession depression is real. You're not alone in your quest to find a cure. How is it possible? Especially, when all we hear about is:
- A Looming Foreclosure Crisis
- More Job Cuts
- Government Bailouts
- Falling House Prices
- Government Bailouts
Learn how to start a business, without the crippling weight of debt. There is light at the end of this, seemingly endless, dark tunnel of economic woes. Be empower to cope, by being in control of your financial future. How? Bootstrap Financing is the answer.
Don't allow the doldrums of recession depression to stop you from regaining control of your life. You can learn how to start, manage and grow you business -- even if you don't have much money, don't own your own home, or have poor credit. Investigate bootstrap financing methods, and start your own business TODAY!
Bootstrap Financing Methods
Did you know that there are hundreds of absolutely free resources that you can take advantage of, to help your home based business obtain the all important start up funding it needs to succeed?
All of the ideas we've discussed are free sources of funding, to assist you in your bootstrap financing plan.
I work with people everyday who just didn't think that they had enough money to start a business. You can find the money you need to start your business TODAY – even if you have poor credit or don't own a home
If you're desperately searching for business start up money to finally realize your dream of successful business ownership without bank loans, consider the services of a Certified Start Up Business Consultant.
