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Tuesday, November 12, 2013

How to get the money to start a business

A lot of people want to start a business. And they wonder where do they get the money? The Bank? Family? Friends?

The truth is you don’t need a loan from the bank to start a business. You don’t even need to borrow money from family and friends. The money to start your business is right in your pocket. With a little sacrifice, anyone can have the money to start their business of their dreams.

These sacrifices include:

Not buying lunch. Lunch eats away at people’s money. A meal at a restaurant can cost anywhere from $5 to $20 a day. Over a week that’s $50-$100 a person can have towards building the capital towards starting their business. Brown bag lunches may seem cheap, but every dollar you save will pay off when you start your business.

Not eating fast food. Fast food costs anywhere from $5 for lunch to $25-$30 a day for dinner for a family of four. Just dropping one fast food meal a week can go a long way towards getting the money for a business start-up.

Not smoking. Smoking costs $10 for a pack of cigarettes to $1 for a loosie. A person who smokes is burning up the capital they could have towards a business start up fund.

Not drinking. People who drink pour all their money down the drain. Beers cost $10 at a bar and a 6-pack of beer costs anywhere from $12 to $15. Premium beers cost even more. All the money spent on alcohol can be used for that business start up fund.

Not going to the club. Clubs are just a way of taking money and throwing it in the garbage. Cover charges, Dr drinks you buy cost a whole lot of money that could be better spent in a business.

Not going to the movies. Movies cost $14 for a movie ticket. If you have a little patience, you can wait for these movies to come to DVD, and use that money to add to your start-up fund.

Get rid of your cell phone. Getting rid of a cell phone gives you anywhere from $360 to $1200 towards building your business. Those data plans eat up dollars you could use towards getting yourself to the next level.

Not buying expensive shoes and clothes. You may look fly in the$200 Air Jordans, $200 Lebrons, carrying the Gucci purses and Coach belts, but all that money could be invested in a business that makes you money instead of taking it.  

Not using appliances. Some electric appliances are energy HOGS. And these pigs eat up your money leading up to high electric bills. Items like High watt stereos, and LCD and Plasma TVs and even lamps can add up to $100 a month to an electric bill in a home. All of that money is cash you can use to put towards business expenses.

Not driving. Depending on where you live, you can save thousands towards starting your own business by using mass transit. The maintenance on a car along with the insurance and gas money can eat up thousands of dollars a year. If you need to drive, get a car when you start your business. Then you can deduct it and the maintenance and other expenses on your taxes.

Not dating. I haven’t had a girlfriend in years. Why? I wanted to get a business off the ground. And dating costs a huge amount of money. The money a guy spends taking a woman out or a woman spends taking a man out is money they could have towards building the capital to start the business that gets them to the next level. Besides, when you own a business, you attract higher quality people to you. People want to go somewhere with people who are going somewhere!

To get the capital to start my publishing imprint, SJS DIRECT, I sacrificed a lot of my creature comforts. When I worked back in 2008, I didn’t buy lunch. I didn’t buy breakfast. I kept my purchases of fast food to a minimum, and I found movies on TV to watch and I saved money like crazy.

All the dollars I sacrificed back then enabled me to have enough money to turn all the manuscripts I wrote since 2003 into published paperbacks and eBooks and promote them to the public.

It takes money to make money. And every dollar you spend on something like an expensive cup of coffee or a trip to the movies is a dollar you could use towards starting your own business. Sure that stuff is a nice short-term treat, but the greatest reward is having your own business and controlling your own career path. 

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