Eight Ways to Finance the Starting of Your Business
You want to start your online business but it takes a lot of time and effort, which you don't have because you are busy working for someone else. So here are 8 ways you can consider getting yourself going.
- Try getting started by moonlighting, which is keeping your full time job and trying to build your business alongside of it. This is hard work and means you'll often have to work at nights, and try to find a way to answer phone calls and emails through the day.
- Next is to go flexitime with your boss, which means he knows you are starting a business and allows you the room to clock on and off at will, or at certain times of the day so you can work on your business. It pays to be good friends with your boss.
- Or you can turn your boss into your first major customer and if he approves, even service some of the clients that belong to your boss also. Of course make sure you do this legally and ethically.
- Many people like to start of with a cushion of funds, like a payout from their job, a settlement of some other kind, and use that to start the business. Of course not everybody has access to a cushion, and borrowing money can be risky.
- You can go at it part time, and take a cut in hours from your existing job and put that extra day or two per week into your business. Make sure you don't waste time surfing the net, or on facebook, or you may as well be still working full time.
- Ifi you are married and have two incomes, consider how you can live on less so that one partner can support your needs while the other builds the business.
- The next is if you have a bunch of clients ready to go - and you get them to give you a retainer in exchange for cheaper services. If you are offering a subscription service or something like that, you can get them to pay you annually in return for a subsidy.
- Finally, you could employ someone else to get the business going for you. This means in all likelihood you won't actually make any money for a while as it will all go in wages. It's also important to hire the right person.
So there are 8 ways you can try to finance or start your business without disrupting your life seriously.