Here's 8 simple ways to raise money; I've also included the Pros/Cons of each & some tips
Boot-Strapping
How it works: use own profits to re-invest into the business
Pros: minimal risk on your end, gives you time to perfect your craft
Cons: very slow
A Job
Pros: dont have to pay back, doesnt take part of your company
Cons: trades money for time that you could be investing in your business
Tip: could be in your field so you gain experience, try to get something that doesn't interfere with your business, preferably afternoons or nights so you can focus on your business in the mornings when you are fresh/full of energy
Freelance
Pros: only a project commitment, can work on your schedule
Cons: time for money
Tips: pick a skill that could help your biz like copywriting
Credit Cards
Pros: simple to get
Cons: most have high APR's (an APR is the % they charge)
Tips: introdcutory offers give you 6-15 months interest free, also get one with points that could help your biz
Loans
Pros: dont lose equity, simple to get
Cons: have to pay back, need good credit/guarantee with personal credit or release biz documents with proof of rev/profits etc
Tips: banks give the best %, after that look at Lending Club or Prosper, dont even think about Kabbage
Equity
Pros: dont have to pay back
Cons: lose part of your company/lose part of your profits forever
Tips: if you give equity to someone make sure they bring something to the table other than money (experience/connections)
Grants
only available to certain industries
check out the SBA for more information
Working Capital by Paypal
basically they give you money upfront and take a percentage of your paypal sales until you've paid it back
Pros: pretty good pricing, simple & fast
Cons: its Paypal
Tip: if you use Paypal for your business its easier to qualify
Hope this helps some of you guys that feel 'stuck' because of capital
Boot-Strapping
How it works: use own profits to re-invest into the business
Pros: minimal risk on your end, gives you time to perfect your craft
Cons: very slow
A Job
Pros: dont have to pay back, doesnt take part of your company
Cons: trades money for time that you could be investing in your business
Tip: could be in your field so you gain experience, try to get something that doesn't interfere with your business, preferably afternoons or nights so you can focus on your business in the mornings when you are fresh/full of energy
Freelance
Pros: only a project commitment, can work on your schedule
Cons: time for money
Tips: pick a skill that could help your biz like copywriting
Credit Cards
Pros: simple to get
Cons: most have high APR's (an APR is the % they charge)
Tips: introdcutory offers give you 6-15 months interest free, also get one with points that could help your biz
Loans
Pros: dont lose equity, simple to get
Cons: have to pay back, need good credit/guarantee with personal credit or release biz documents with proof of rev/profits etc
Tips: banks give the best %, after that look at Lending Club or Prosper, dont even think about Kabbage
Equity
Pros: dont have to pay back
Cons: lose part of your company/lose part of your profits forever
Tips: if you give equity to someone make sure they bring something to the table other than money (experience/connections)
Grants
only available to certain industries
check out the SBA for more information
Working Capital by Paypal
basically they give you money upfront and take a percentage of your paypal sales until you've paid it back
Pros: pretty good pricing, simple & fast
Cons: its Paypal
Tip: if you use Paypal for your business its easier to qualify
Hope this helps some of you guys that feel 'stuck' because of capital
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
