6 Q U I C K T I P S T O F I N A N C E A N D H E L P Y O U R B U S I N E S S

B Y M I K U S K I N S

No matter what you can say, we are in the golden age of entrepreneurship.

We have become a generation where companies such as Google or Apple have taken the cornerstone of a concept and developed them into corporate entities.

But even with this fast emerging market, the same problem continues to hinder the success of many startups and new entrepreneurs. That problem is funding.

Finding capital for a new business can often be challenging, especially in this economical climate. Securing these types of funds can be the difference between failure and success.

To help you find the necessary financial funding you need to operate and optimize your business to the fullest, here are six helpful and advantageous tips you can utilize to get you and your company on the right path.

1 . B E R E A L I S T I C

• When it comes to your business, you want to make sure you have a business plan that is scalable, profitable, and tangible

• Understand your finances

• Try and gage how the public will be receptive to your product

• Be realistic with your planning

2 . N E T W O R K , N E T W O R K , N E T W O R K !

• In the world of entrepreneurship, access a larger group for financial funding

• During this process, especially when you network with individuals looking to invest in your company, you will inevitably have to pitch your business.

• Make sure you work on your public speaking skills. Be confident, captivating, and memorable. In addition, make sure you know the ins-and-outs of your company

• Be able to answer all questions of your company, its vision, its goals, and its finances

3 . D O Y O U R H O M E W O R K • Know your company’s

vision, goals, finances, expenses, projected figures, marketing ideas, etc.

• Know the people you are talking to. Know their background, careers, and purpose for your company.

4 . G E T A B A N K L O A N • Bank loans are often

common method for small businesses

• If, however, you are looking for something financially smaller to get your foot into the door, try securing a microloan.

• Certain microloans can range from $500 to $35,000.

• At the end of the day, you want to be realistic with the amount you get

5 . A LT E R N AT I V E F U N D I N G S O U R C E S

• Look at crowdfunding sites like kickstarter.com or gofundme.com

• The sites give you an opportunity to raise a specific amount of capital to fund your business or your projects.

• For this to work, you need to make your product appealing. This goes back to doing your homework. Make sure you know the ins-and-outs of your business and your products.

• Discuss the company’s history, how the product came to be, and the benefit the product can be for the entire public.

• To further enhance your business’s popularity and increase donations, create high quality videos, pictures, and marketing ideas that can hit home to a variety of people.

6 . G I V E U P S O M E O W N E R S H I P

• Providing an equity based-crowdfunding or ownership to your investors can provide you with the necessary funds to launch your business to the next level.

• Many big companies have succeeded on this idea especially when scaling a startup into a big business.