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How much money did you use to start your business?

Discussion in 'General Entrepreneur Discussion' started by pipedream2017, Nov 26, 2018.

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  1. pipedream2017
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    pipedream2017 Contributor

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    how much money did you invest in starting up your business? Just curious. :)
     
    Last edited: Nov 26, 2018
  2. DVU
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    DVU In Progress Read Millionaire Fastlane Speedway Pass

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    Vastly depends on the type of business you want to start.

    I run a web design business and just needed 200$ for the hosting account.
     
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  3. Ravens_Shadow
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    Ravens_Shadow I'm sorry... I couldn't resist. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    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.
     
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  4. pipedream2017
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    pipedream2017 Contributor

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    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
     
  5. DVU
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    Can't really know the answer until you go.

    With a proper plan of course.
     
  6. pipedream2017
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    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.
     
  7. Lex DeVille
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    Lex DeVille CAUTION! I hurt people's feelings... Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    $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?"
     
  8. pipedream2017
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    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.
     
  9. Lex DeVille
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    Lex DeVille CAUTION! I hurt people's feelings... Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    You can always get more money.
     
  10. YoungPadawan
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    YoungPadawan Miles to go before I sleep Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    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: Nov 26, 2018
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  11. sparechange
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    sparechange Gold Contributor Speedway Pass

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    Please tell us how u spent 8k On a candle buisness
     
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  12. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    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.
     
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    sparechange Gold Contributor Speedway Pass

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    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
     
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  14. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    [​IMG]

    Anyone remember this commercial?
     
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    Buy a Insider Membership. Find out for yourself.

     
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  17. AgainstAllOdds
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    $10,000 for the first production run.
     
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    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.

    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.

    -
     
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    Akeem Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    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.
     
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    njord Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    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...
     
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  22. Davejemmolly
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    Davejemmolly Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    About 8k so far, and will need perhaps another 12k to cross the t's and dot the i's before launch
     
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  23. MHP368
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    MHP368 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I would definitely not recommend maxing out your credit cards, my first failed business I did that and its a painful reminder every month.
     
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  24. Xeon
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    Xeon All Cars Kneel Before Pagani. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    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)?
     
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    evlttwin It's A Long Way To The Top.... Read Millionaire Fastlane Speedway Pass

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    Thanks Noob Noob. This guy gets it!
     
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