If you dream of starting your own business, you may feel you can't because you don't have a significant amount of cash. This can be discouraging, but many business have been "bootstrapped" into realization. That is, others have started with virtually no cash. What cash they did get was obtained using non-traditional methods or venture capital funding from sources such as Deven Parekh.
You will hear stories about people who started their business with cash advances from their credit cards. Once you get a federal employer identification number, you will be bombarded with these credit card offers. Don't do it! Many of us manage business credit poorly, like we do our personal finances. Look for other ways to get started!
You can do plenty of research, for free, online and at the library. Whether you are researching ideas or the actual nuts and bolts of starting a business like writing a business plan or whether to incorporate, most of the information can be found online. You can also join entrepreneur groups in your area to discuss you idea and to pick the brains of others. Deven Parekh works for Insight Venture Partners where they hear startup pitches and read business plans on a daily basis.
Develop a DIY (do it yourself) mentality in the beginning. Many of the startup needs you will have, a web site, blog, business cards, brochures, can be built using free software and templates online. You can shoot video of yourself discussing your products and services and put on your site and on YouTube. Make sure everything looks professional (have a savvy friend proofread for you) before you start sending it out.
Social media should be incorporated early and often. Start building an online community early and often-for free! Sign up for Twitter, Facebook, LinkedIn and YouTube and start interacting with other members. Share information about your company, offer to help them and before you know it you will have a team on your side.
Don't start hiring staff when you get up and running. You want your business firmly established before you take this step. Instead outsource many of the tasks you would hire for. This can include a virtual assistant to handle to your administrative details, much of your marketing, your IT needs and graphic design. You can replace these professionals with staff when necessary, or keep using them long-term.
Part of almost any new venture are your computer needs and software can be expensive. Increasingly, businesses are using "cloud computing" (online applications) to accomplish what they used to pay hundreds or thousands of dollars for in software. Take advantage of free bookkeeping and invoicing applications as well as word processing, spreadsheets, presentation, graphic design and more. You get unlimited storage space with many of these online apps as well.
Angel investors such as Deven Parekh are wealthy men and women who invest in startup companies. Many of these individuals will band together to form a network. Consider approaching an angel network with your business idea. Normally they provide these loans in exchange for partial ownership or future stock options.
You will hear stories about people who started their business with cash advances from their credit cards. Once you get a federal employer identification number, you will be bombarded with these credit card offers. Don't do it! Many of us manage business credit poorly, like we do our personal finances. Look for other ways to get started!
You can do plenty of research, for free, online and at the library. Whether you are researching ideas or the actual nuts and bolts of starting a business like writing a business plan or whether to incorporate, most of the information can be found online. You can also join entrepreneur groups in your area to discuss you idea and to pick the brains of others. Deven Parekh works for Insight Venture Partners where they hear startup pitches and read business plans on a daily basis.
Develop a DIY (do it yourself) mentality in the beginning. Many of the startup needs you will have, a web site, blog, business cards, brochures, can be built using free software and templates online. You can shoot video of yourself discussing your products and services and put on your site and on YouTube. Make sure everything looks professional (have a savvy friend proofread for you) before you start sending it out.
Social media should be incorporated early and often. Start building an online community early and often-for free! Sign up for Twitter, Facebook, LinkedIn and YouTube and start interacting with other members. Share information about your company, offer to help them and before you know it you will have a team on your side.
Don't start hiring staff when you get up and running. You want your business firmly established before you take this step. Instead outsource many of the tasks you would hire for. This can include a virtual assistant to handle to your administrative details, much of your marketing, your IT needs and graphic design. You can replace these professionals with staff when necessary, or keep using them long-term.
Part of almost any new venture are your computer needs and software can be expensive. Increasingly, businesses are using "cloud computing" (online applications) to accomplish what they used to pay hundreds or thousands of dollars for in software. Take advantage of free bookkeeping and invoicing applications as well as word processing, spreadsheets, presentation, graphic design and more. You get unlimited storage space with many of these online apps as well.
Angel investors such as Deven Parekh are wealthy men and women who invest in startup companies. Many of these individuals will band together to form a network. Consider approaching an angel network with your business idea. Normally they provide these loans in exchange for partial ownership or future stock options.
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