The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

HOT TOPIC How much money did you use to start your business?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Ravens_Shadow

THE TRUTH IS OUT THERE
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 2, 2012
987
4,806
1,136
Cary, NC
Enough that I maxed out my credit cards.

Why does it matter how much someone else put into their business? Some people put in zero, some people put in millions or somewhere in between.

Are you asking because you're scared to put money into one of your own ideas?

Learn to ask better questions.
 
OP
OP
pipedream2017

pipedream2017

Contributor
Sep 12, 2017
36
28
47
29
london
Enough that I maxed out my credit cards.

Why does it matter how much someone else put into their business? Some people put in zero, some people put in millions or somewhere in between.

Are you asking because you're scared to put money into one of your own ideas?

Learn to ask better questions.
Yeah I have an idea I want to start and my heart says put in the money my head says what if.. what if it goes wrong all that money wasted. So yeah just looking to see how it worked out for you guys and how much you put in
 
OP
OP
pipedream2017

pipedream2017

Contributor
Sep 12, 2017
36
28
47
29
london
Can't really know the answer until you go.

With a proper plan of course.
Yep! My business idea is a local business magazine, I can advertise 3 times as cheap as competition, im thinking of offering it for free for the first month to attract the businesses and hopefully keep hold of them. I was reading an article that investing money and giving something for free can have postive impacts on a business.
 

Lex DeVille

Sweeping Shadows from Dreams
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 14, 2013
3,208
20,842
4,306
The Underground
$0 for my copywriting business. Somewhere between $7k-$8k so far for my pre-launch candle biz.

Yeah I have an idea I want to start and my heart says put in the money my head says what if.. what if it goes wrong all that money wasted. So yeah just looking to see how it worked out for you guys and how much you put in
What if you never do anything and die a broke dreamer full of regrets? I'd rather waste my money finding out for sure than waste my time wondering "what if?"
 
OP
OP
pipedream2017

pipedream2017

Contributor
Sep 12, 2017
36
28
47
29
london
$0 for my copywriting business. Somewhere between $7k-$8k so far for my pre-launch candle biz.



What if you never do anything and die a broke dreamer full of regrets? I'd rather waste my money finding out for sure than waste my time wondering "what if?"
That’s exactly what I was just thinking. Rather risk it all, than play it safe. Just gotta get rid of the annoying what if I’m the back of my mind.
 

Lex DeVille

Sweeping Shadows from Dreams
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 14, 2013
3,208
20,842
4,306
The Underground
That’s exactly what I was just thinking. Rather risk it all, than play it safe. Just gotta get rid of the annoying what if I’m the back of my mind.
You can always get more money.
 

YoungPadawan

Miles to go before I sleep
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 7, 2015
469
1,229
374
27
So far, in my current venture, I've spent about $550 on samples, different types of cloth and materials, and purchasing my competitors products to see what I need to do better.

Give it a shot. Would you rather have 100% chance of making $400 per week at a J.O.B. ($10/hr @ 40hrs) or a ~10% chance of making enough money following CENTS that will forever change your life? (Not to mention you could have a job while pursuing business) Plus - if you happen to fail, with odds that get better as you continue to pursue business, with very little downside for at least trying.

Go for it man. Never give up. I'd rather die trying to fulfill my dreams than live as a wage slave for the rest of my life.
 
Last edited:

sparechange

Platinum Contributor
Speedway Pass
Nov 11, 2016
2,212
3,165
790
Canada (Vancouver)
$0 for my copywriting business. Somewhere between $7k-$8k so far for my pre-launch candle biz.



What if you never do anything and die a broke dreamer full of regrets? I'd rather waste my money finding out for sure than waste my time wondering "what if?"
Please tell us how u spent 8k On a candle buisness
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Scot

Salad Dressing Empire
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 10, 2016
2,975
13,786
2,796
Florida
I put in as much money as I could, without putting my family in jeopardy.

When you start a business the amount of money you should invest is a dollar amount that is very uncomfortable, but not too much that you’ll be destitute on the streets if you lose it.
 

sparechange

Platinum Contributor
Speedway Pass
Nov 11, 2016
2,212
3,165
790
Canada (Vancouver)
You should look into Felix Dennis, he’s the founder of maxim , made a few hundred mill as a broke dropout and wrote a book on it, awesome read
 

Scot

Salad Dressing Empire
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 10, 2016
2,975
13,786
2,796
Florida

Raoul Duke

You wouldn't get it.
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Feb 26, 2016
1,582
5,541
1,285

YoungPadawan

Miles to go before I sleep
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 7, 2015
469
1,229
374
27

RazorCut

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
May 3, 2014
1,993
6,946
1,496
England UK
I've always bootstrapped each business but start up costs have been around $200 on the low end to $30,000 on the high end with most in between.

Current one will only be around 3-4k.

Yep! My business idea is a local business magazine, I can advertise 3 times as cheap as competition, im thinking of offering it for free for the first month to attract the businesses and hopefully keep hold of them. I was reading an article that investing money and giving something for free can have postive impacts on a business.
Can you make the model work if you make it free all the time? If you can print enough of them and get them circulated to a large enough audience then you may be able to profit from the advertising revenue alone.

Then the job would not be about selling subscriptions but selling advertising space.

-
 

Akeem

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Feb 4, 2016
81
220
153
United Kingdom
Believe it or not, I spent nothing and quite literally made "money from nothing".

I don't know whether you'd class it as a business or just an idea to make money which (fast forward 2 years later) became one of my top sources of income.

I happened to come across software being sold on an online marketplace and just reviewing the sheer amount of sales for that one day, it got me hooked. (Because I'm a software developer, I think software can change the world, so I'm pretty addicted to creating, distributing and selling software). Nevertheless, I wanted in. So I created my advertisement, used my web design skills to make it look professional and fancy and clicked post. I made sure their was a large enough profit margin for me to make it worth my while. I'll admit now, I did initially start selling at a very premium price, however, they slowly sold and once they did, I simply used around 60% of the sale price for the item and the 40% I kept for myself. I rinsed and repeated this method until I found a more genuine supplier and about 5x cheaper. Used an automated bot that I built myself to deal with orders and I myself just kept refilling it with stock and that sums it up.

It really is that easy to replace your 9 to 5, you just have to figure out what that "one thing" is, that "one thing" that can take so long to find but it'll be worth it.

Trust the process.
 

njord

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 24, 2016
134
182
150
30
4.5k euros for importing products to amazon.

Im currently renting out my two spare rooms in my house to get more capital:cool:

Renting out rooms isent as bad as i thought, yes i have less privasy but if you take the time to look for nice people you can have some good company and some extra pocket money to invest;)

I could earn even more if i move to the small room and rent out my room...
 

Don't like ads? Remove them while supporting the forum. Subscribe.

MHP368

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 17, 2016
743
1,134
376
34
Sahuarita AZ
Yeah I have an idea I want to start and my heart says put in the money my head says what if.. what if it goes wrong all that money wasted. So yeah just looking to see how it worked out for you guys and how much you put in
I would definitely not recommend maxing out your credit cards, my first failed business I did that and its a painful reminder every month.
 

Xeon

All Cars Kneel Before Pagani.
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 3, 2017
1,462
3,049
776
Singapore
$0 for my copywriting business. Somewhere between $7k-$8k so far for my pre-launch candle biz.
Just wondering, did you felt kinda surprised when you realized that a candle biz can cost $7-8K to start (and I assume the costs are still going up)?
 

Lex DeVille

Sweeping Shadows from Dreams
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 14, 2013
3,208
20,842
4,306
The Underground
Just wondering, did you felt kinda surprised when you realized that a candle biz can cost $7-8K to start (and I assume the costs are still going up)?
No because it doesn't cost that much to start a candle biz. Literally anyone can start one for like $100. The expenses are for things that mostly have nothing to do with candles and everything to do with setting my business apart.
 

TreyAllDay

Whatever it takes
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Feb 9, 2016
557
1,685
485
29
Edmonton, AB
Depends - I'm in software and it was approximately $1000 with the various incorporation costs, licenses, etc. You don't really need to invest anything at all in some cases.
 

NewManRising

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 30, 2017
370
548
252
40
Medford, OR
I've spent near $1000 funding my education that I will need now and later for a business. When I do start a product-based business I am planning on starting with at least $10,000.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Just bought 5 of your Upwork courses. Thanks for making valuable content Lex!
  • Sticky
MARKETPLACE Kill Bigger Incubator
I've just concluded my program with Kyle. The incubator gave me what I wanted. Now, working on a...
  • Sticky
MARKETPLACE Fox's Web Design Guide: Earn $100K this year (Yes, 2020!) and Go Fastlane
Thanks for the detailed response. I see it similar, in the beginning, you have only a small...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Thanks for your offer to look at my book. Here's the link to the squeeze page Buy The Prosperous...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
The day I can afford to pay 800 a month to have someone keep me accountable is the day I've won...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom