Friday, May 29, 2009

Start Up Business Financing - Find Free Money to Start a Business

Finding the start up business financing you need to get your business up and running is possible. What’s even better? You can do it without big bank loans. Learn how to find free money to start a business by following this simple, four step formula.

Step One: Find Profitable, Shoestring Start Up Business Opportunities

Not all business opportunities are created equal. If you find that you have very limited finances, the first place to start is finding a shoestring start up business idea. Consider a service orientated business, like a janitorial company or auto detailing concierge business. These businesses require very little money to start. You can also start up a service business relatively quickly. It simply requires a bit of training, getting the word out and the supplies needed to get you going.

Step Two: Create a Financing Strategy

Next, you'll need to create a start up business financing strategy. This will require you to first get a handle on your personal finances. Make a list of all of your monthly expenses and start looking for areas where you can cut back. Be ruthless here.

After cutting back on the things you don't need, look for ways to save on the things you do need. Perhaps consider downsizing an expensive sports car or moving into a smaller home. These items alone can unlock additional cash each month to help you finance your business.

Step Three: Find Free Sources of Start Up Business Financing

Once you have a handle on your personal finances, it’s time to tackle those initial start up costs and overheads. Make a list of all of the expenses you will incur to get your business up and running. Look for items that are just plain unnecessary and eliminate them from your list. Research ways of saving on expenses that you cannot do without, like telephone service.

Step Four: Get Help from a Certified Start Up Business Efficiency Expert

Consider consulting with a Start Up Efficiency Expert or finding free information online. Keep in mind, not all information floating out in cyberspace will prove useful. Make sure that any information or advice you decide to take comes from an experienced, reliable source. Also, consider purchasing an eBook on start up business survival.

Starting a new business is not a small task. After all, you are investing so much of your valuable time and hard earned resources. Don't put yourself at risk! Take the necessary steps to protect your long term success. Be sure to do thorough research and create a sound start up business financing strategy. In doing so, you'll unlock the secrets for finding free money to start a business.

You can make your dreams of owning your own business a reality – even if you have little or no money. I'm living proof!

About the Author:

Kimberly Kelly teaches new entrepreneurs the secrets for finding free sources of business start up funding through her ebooks, seminars and coaching services. She is the author of the popular selling ebook: the Start-Up Business Survival Guide: 101 FREE Products and Services to Help Finance Your Dream of Successful Business Ownership. Visit her website at http://www.StartUpBusinessSurvivalGuide.com

How To Start a New Business Without Bank Loans

If you've been searching for information on how to start a new business without bank loans, you're in great company. Millions of budding entrepreneurs just like you are frustrated because they just can't seem to qualify for traditional sources of start up business financing.

Perhaps you have less than perfect credit or don't own a home. You may even be overextended, with a mountain of debts you just can't seem to tunnel your way through. If these situations represent where you are right now, there is still hope. You can achieve your dreams of owning your own business without borrowing money. I have personally seen this dream come true for many of my clients.

The Secret is Bootstrapping

You just need the know-how. The secret ingredient for learning how to start a new business without bank loans is bootstrapping. Before you can get started with a bootstrapped business plan, you may need to make some lifestyle changes. Make an honest assessment of where you are right now financially, and how you got there. This is the first step to getting out.

Create a Bootstrapped Business Plan

This is essentially a life plan which defines your passions and dreams and breaks them down into realistic, goal orientated steps. A large part of this process is determining your reasons for wanting to start a business. I have seen too many people desire to start a business for some of the wrong reasons. Before getting in too deep, make sure your motives are sound and that you have the support of your family and friends.

Seek Out Free Sources of Business Start Up Funding


Look for creative start up business financing solutions which will enable you to greatly reduce your initial cash outlay for business start up costs and ongoing operating expenses. This will require you to make a list of all of these estimated costs. Once you have your list completed, begin researching strategies which will enable you to reduce or eliminate these expenses. This is a time consuming process, but it will prove invaluable when you realize the money you won't spend to get your business off the ground.

Starting a business on a shoestring is possible! It’s easy to learn how to start a new business without bank loans or borrowing from loved ones. The difficultly is the discipline required to get your finances in order.

You can make your dreams of owning your own business a reality – even if you have little or no money. I'm living proof!


About the Author:

Kimberly Kelly teaches new entrepreneurs the secrets for finding free sources of business start up funding through her ebooks, seminars and coaching services. She is the author of the popular selling ebook: the Start-Up Business Survival Guide: 101 FREE Products and Services to Help Finance Your Dream of Successful Business Ownership. Visit her website at http://www.StartUpBusinessSurvivalGuide.com

Minority Business Loans Don't Exist – Stop Your Search!

Are you seriously considering minority business loans as a source of business start up funding for your new venture? Stop your search! Minority small business loans simply do not exist? I realize that you may find this vital piece of information quite shocking – but it is nonetheless true.

As a Start Up Business Consultant, I often have the unfortunate job of telling potential clients that minority business loans are a fairytale and not a fact. Oddly enough, I get the exact same reaction when I tell these same clients that small business start up grants are also nearly impossible to garner. So what is the good news?

Get the Facts!

The good news is that I'm about to save you a lot of potentially wasted time and effort by giving you the facts. Let's check out these valuable tidbits before we proceed with some solutions.

Fact #1:
There are no specific business start up loans for members of a minority group.

Fact #2:
The only forms of government guaranteed financing available to minorities are SBA loan products.

Fact #3:
Minority small business start up grants do not exist.

What Government Programs Exist to Help Minorities?

So what help is available to members of a minority group? The Minority Business Development Agency (MBDA) operates under the auspices of the U.S. Department of Commerce. This government agency was established to give minority entrepreneurs the tools necessary to successfully compete in national and global markets. This agency however, does not offer minority business loans, nor do they hand out minority business start up grants.

Why is there So Much Misinformation about Minority Business Loans?

In 1977 the US Congress passed a law known as the Community Reinvestment Act. This law prohibited lenders from engaging in discriminatory loan practices in low income communities. This law was specifically intended to encourage banks to approve a larger percentage of loans to minorities. The passage of this law does not constitute a lending program specifically for members of a minority group. It was intended however to require that financial institutions give fair and unbiased consideration to minority loan applicants.

What Are My Start Up Financing Options?

Here are the most common methods of obtaining small business start up funding:

• SBA Loans
• Commercial Loans
• Home Equity Loans
• Peer-to-Peer Lending Groups (such as Prosper and Zopa)
• Credit Card Financing
• Loans from Family and Friends
• Bootstrapping

Consider Getting Some Help from a Start Up Efficiency Expert

A Start Up Efficiency Expert can point you in the right direction and advise you on how to reduce and/or eliminate many of your start up and operating costs. Certainly, you should continue to do thorough research. Do not trust every source of information you find floating out in cyberspace. You'll not only waste a lot of time – but perhaps face staggering disappointment.

The Solution: Find Free Sources of Business Start Up Funding

The Start Up Business Survival Guide is an excellent resource for anyone desiring to start a business with very little money. You can make your dreams of owning your own business without bank loans a reality – even if you have poor credit or don't own a home.

Kimberly Kelly is a certified Start Up Business Consultant and management expert in the field of cost reduction strategies for home based businesses and small start up companies. Through her eBooks, seminars and consulting services, she guides budding entrepreneurs through the entire start-up process, providing cost effective solutions to enhance profitability and long term success. Contact her at http://startupbusinesssurvivalguide.com

Small Business Start Up Loan Horror Stories

If you are considering a small business start up loan to finance your dream of owning your own business, proceed with caution! You may be putting your personal assets at risk. It's wiser to consider financing your start up business with free sources of business start up funding. Most small business loans are secured on your home or other high value assets that you own. Such was the case with a business owner named Jim. Just listen to his story.

True Life Horror Story

Jim wanted to open a 24 hour fitness club in suburban Atlanta. After conducting thorough market research, he discovered that a fitness club in his community had great potential to turn a profit in as little as two years. Jim decided to attend a paid business plan workshop at a local university.

After completing the course, he held in his hands one of the most impressive, money winning business plans you could ask for. This plan was sure to have the bank's loan officer salivating. Jim was approved for a small business start up loan with no problem. After all, he was unmarried, employed full time and owned two properties. His high credit rating, savings account balance and experience in the field as an award winning body-builder, made him a "shoe in" for loan approval.

Seven months after Jim's grand opening, he got word that a mega fitness center franchise was opening a location right down the road from his gym. This new fitness center boasted of an Olympic sized swimming pool, fitness classes, child care and a staff of buffed and bronzed personal trainers. What’s even worse? The monthly membership fee was far less than what Jim's fitness gym charged!

I can tell you that Jim spent many sleepless nights worrying about the future of his business, and the mountain of debt that he was sitting on.

How Does the Story End?

Jim has had to lower his monthly membership fees to compete with the new fitness franchise, sacrificing the profitability numbers from his business plan. He also had to increase his advertising budget and offer members greater incentives for joining – another blow to the profitability numbers. Jim is still keeping his head above water. He decided to hire a start up business efficiency expert to help him lower his operating costs.

Don't allow what happened to Jim happen to you. Do thorough research on any small business start up loan package you are considering. Also, consider how to avoid taking out a loan altogether, by investigating free sources of start up business financing.

The Start Up Business Survival Guide is an excellent resource for anyone wanting to start a business with little or no money. You can make your dreams of owning your own business without bank loans a reality - even if you have little or no money. I'm living proof!

About the Author:

Kimberly Kelly teaches new entrepreneurs the secrets for finding free sources of business start up funding through her ebooks, seminars and coaching services. She is the author of the popular selling ebook: The Start-Up Business Survival Guide: 101 FREE Products and Services to Help Finance Your Dream of Successful Business Ownership. Visit her website at http://www.StartUpBusinessSurvivalGuide.com

Monday, May 11, 2009

Is a Minority Small Business Loan Right for You?

If you are considering a minority small business loan, you may want to explore other creative financing options as well. Have you looked into the possibility of forgoing traditional bank loans and government backed financing?

If you are a starting a business for the first time, or have been in business for less than two years, you may want to consider the option of bootstrapping. Bootstrapping your new venture can provide you with the start up business financing you need – without big bank loans.

Can Bootstrapping Really Help Me Raise the Money I Need?

The answer is yes. Bootstrapping can help you to reduce or eliminate start up costs and operating expenses. In some cases, utilizing this financing strategy may make the need for a minority small business loan unnecessary. The key is knowing what resources are available to you.

I recently showed a client how to save over $230 a month on business telephone service. She owns a hair salon and her telephone lines are the lifeline of her business. Not only do her regular customers phone to make repeat appointments, but her credit card machine operates through her telephone service provider. Reducing this expense has now enabled her to divert an extra $2,700 a year to her advertising budget.

What Businesses Work Best With This Financing Strategy?

Any service business or home based business presents the ideal match for a bootstrapped business. These types of businesses tend to have lower initial start up costs and usually cost less to operate. You can even start these kinds of businesses with little or no money of your own. Some examples are consultants, graphic designers, photographers, a personal chef service or a virtual assistant.

Having said that, any type of business can benefit from reduced start up costs and overheads. A clothing store, for example, will benefit greatly from reduced credit card transaction fees.

Where Do I Find Free Sources of Start Up Business Financing?

Finding free sources of start up business financing requires creativity and research. Begin by making a list of your estimated start up expenses and operating costs. Go over this list carefully; brainstorming areas where you feel you may be able to save money.

Do some online research for sources of free business start up funding. When doing so, keep in mind that government grants are not a very likely option. This source of free business start up funding is usually only made available for research, biotechnology and education.

The success of your new business relies heavily upon your ability to successfully manage cash flow. With that in mind, you owe it to yourself to save as much money as you can at the start up phase.

Deciding whether a minority small business loan program is right for you requires research and planning. You can make your dreams of owning your own without bank loans business a reality – even if you have little or no money. I’m living proof!

About the Author:

Kimberly Kelly teaches new entrepreneurs the secrets for finding free sources of business start up funding through her ebooks, seminars and coaching services. She is the author of the popular selling ebook: the Start-Up Business Survival Guide: 101 FREE Products and Services to Help Finance Your Dream of Successful Business Ownership.

How to Start a Business With No Money: 3 Expert Tips For Start Up Success

Find the Business Start Up Money You Need

Is it really possible to learn how to start a business with no money? The answer is a resounding yes! As a Start Up Business Consultant, I cannot recount the number of times that I’ve been asked this very same question. The good news is that starting a business with no money, it not only possible – but extremely smart.

I mean, why would anyone want to incur major debt from a mountain of small business start up loans if they didn’t need to -- or rack up high interest credit card debt as a means of cash flow management. There is a better way – and it’s called bootstrapping.

Let’s take a look at three ways in which you can learn how to start a new business without big bank loans.

Expert Tip #1:
Start a Business from Home


When searching for the best small business you can start on a shoestring, a home based business wins hands down. By choosing this option you are eliminating roughly 32% of a traditional businesses’ overhead costs. Some of these costs represent office lease payments, utilities, fuels costs for commuting to work, increased car insurance rates and possibly child care expenses.

According to a recent study, American companies could add more than $260 Billion to their bottom line profits if their employees worked from home. There is simply no question that working from home is the smartest option for starting a business with limited resources.

Now that we’ve discussed where to start a business with no money, let’s examine what kind of business you can start on a shoestring.

Expert Tip #2:
Find Business Ideas Which Require Little or No Money to Start


Choosing the right business opportunity is the key ingredient to learning how to start a business with no money. Afterall, not all businesses can be started without money.

For example, is is near impossible to start a retail store with no money. It is however possible to start a janitorial business with no money. Finding the best business to start without money will require some internet market research. Do your homework and be on the lookout for “too-good-to-be-true” claims of instant wealth.

Expert Tip #3:
Find Free Sources of Business Start Up Funding


The third and final factor for shoestring start up success is saving money on initial business start up expenses and daily operating costs. Reducing these costs at the business planning stage is essential for the long term profitability and success of any small business.

What many budding entrepreneurs don’t realize is that there are many creative strategies for starting a business without a heavy debt load from small business loans or borrowing from family and friends.

Make your dreams of small business ownership a reality. You can learn how to start a business with no money by greatly reducing business start up costs and operating expenses. Eliminate or reduce these start up business costs and you’ll discover the secret to starting up on a shoestring.

About the Author:

Kimberly Kelly teaches new entrepreneurs the secrets for finding free sources of business start up funding through her ebooks, seminars and coaching services. She is the author of the popular selling ebook: the Start-Up Business Survival Guide: 101 FREE Products and Services to Help Finance Your Dream of Successful Business Ownership.

Find Money to Start a Business