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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
3 Ways to Get Your Business On Its Feet
Developing a plan of action is only one aspect when it comes to building a business from the ground up. Everything these days needs funding, and even in starting a company, it is essential that you have the financial means to get the ball rolling.
Thankfully, you are not the first business to need financial assistance, nor will you be the last. That is why we have highlighted just some of the many ways you can go about funding your vision:
- Stock Loans
Stock loans are a way to temporarily borrow money you intend to pay back by putting up your securities as collateral. So long as you have non-marginable securities, or stock funded 100% by your own cash, the loan can be carried through.
This type of lending, called securities lending, ensures your financial safety in paying back your loan. It is very convenient in more than one way for burgeoning businesses. Primarily, it does not require you to put up your personal assets, such as a house or vehicle, as collateral for a loan for your business. This minimizes the risk of defaulting on a loan since the only investment you would lose is the stock itself.
Securities lending also provide greater liquidity, and you can still reap the benefits of the stock’s increasing value even as you repay the loan itself.
If you hold non-marginable securities, then stock loans may be the right approach for you.
- Angel Investors
This is perhaps one of the most popular and efficient ways to fund your business—through the help of angel investors. Angel investors are typically individuals with a decent amount of money to offer that have a passion for investing in businesses that they believe in. They take it upon themselves to support businesses that they are emotionally invested in as prevalent business aficionados.
If you do not know how to reach out to this angel investors, get in contact with your local chamber of commerce, and they will likely be able to assist you. While they often congregate in high-traffic areas such as big cities, they are a demographic common enough to find in most places.
- Crowdfunding
In the climate that we live in today, the internet plays a huge part in how we can garner an audience and financial support. Using the digital platforms that are at our constant disposal can be a hugely significant advantage when it comes to exposure and monetary support.
Websites abound, such as kickstarter.com just to name a popular one, allowing for companies to “pitch” their idea alongside a place where interested individuals can offer their financial backing. It is extremely helpful when trying to collect more money, but also speaks largely to just how many people are interested in what your soon-to-be business has to offer and how interested they are exactly.
If in addition to financial support you are seeking some statistical information on the anticipation about your startup and its viability for success, this could be the best approach for you.
In Summation
There are a variety of ways to get your start-up off the ground; it’s simply a matter of preference and the resources you already have at hand. The vast majority of businesses start out needing more money than they currently have at their disposal, so do not get discouraged. There are plenty of ways to navigate that obstacle. No matter what, take comfort in the fact that just as every business needs investments, those investors need businesses to satisfy needs that have yet to be met.
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