How much money did you use to start your business?

[MHP368]

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.

 

[evlttwin]

Thanks Noob Noob. This guy gets it!

 

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[The Abundant Man]

 

[Xeon]

$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)?

 

[artKarolina]

$1k Christmas bonus, $50 to register. Been investing $5-15k cash back into the business every year to get new equipment, experiments to grow it slowly. I would've liked to have more money upfront of course, because it would've been a quicker growth but it worked out anyway. Video production. More importantly, actually had a business plan.

 

[JohnD Realestate]

how much money did you invest in starting up your business? Just curious.

33k I think. Somewhere around there in 2006. RE biz.

Although in reality I was just buying a house to live in. It had 3 apts and this was the only way I could see to afford to live close to NYC and not pay a fortune.

But as the years went by it turned into a biz.


Edit...good question by the way.

It wasn’t my first biz. I sold dictionaries door to door for a company when I was 17. They ripped me off on my fist payday so I found a supplier and copycatted them. I ran out of steam. That was probably 200$ worth of books.

At 23 Had a clothing store started with 5k of opm. Ran out of steam again. 22 years later after working for others I realized that once in a while I need to sit down and refocus.

 

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[Andy Black]

€0 of my own actual money to get started. Plenty of unpaid time though.

Clients paid (and still pay) me to provide a service.

They’ve also paid to build my team, processes, and technologies.

 

[MJ DeMarco]

About 900 bucks.

Cost me 1k to start my online business which I sold 5 years later for over a million bucks. What's that? An ROI of 100,000% +.

Best investment I've ever made was in backing myself! Go out and grab your dreams by the balls and enjoy the ride.

Holy shit, is your story here? Congrats man! So much better than sitting around waiting for 8% in the stock market eh?

 

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[pipedream2017]

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

 

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[DVU]

what if

Can't really know the answer until you go.

With a proper plan of course.

 

[pipedream2017]

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.

 

[NewManRising]

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.

 

[Vincent_Vega]

4k€. Business flopped, so I sold it for 2k€.

 

[AimForTheMoon]

My businesses have been anywhere from $250 to $3m

 

[Lenin G.]

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.

Hey man, so you're planning to get into a business just because you can be the cheapest option?

Have you studied the market a little bit and know if you can scale it properly or just want to see if this product idea has legs?

Now, as a way of training yourself and get your feet wet I'd say give it a go, but if you're planning to grow a serious business from it I think you should be more careful.

The same as some of the other guys that replied I've invested from nothing to several tens of thousands of dollars, but that figure is not that relevant, just make sure you don't break the bank when testing this idea.

Good luck, buddy.

 

[ericaung]

Bump it up! I am also curious ;-)