6 Ways to Get Money Fast for the Broke Entrepreneur

admin — Fri, 05 Dec 2008 19:38:10 +0000

6 Ways to Get Money Fast for the Broke Entrepreneur

internet marketing Articles from Moe Tamani, the SEO Services Consultant.

This is not the sexiest article I have ever wrote but I have seen some really cash strapped entrepreneurs. It is an unfortunate fact that young entrepreneurs and others in the process of starting home-based business may find themselves needing to make money in a hurry. The first reaction to finding oneself in this situation is to panic, rendering it nearly impossible to think clearly and creatively about alternative money-making options. Keep these 6 tips in mind and you’ll be on your way to making some extra cash before the panic even sets in.

1. Sell Stuff. Chances are that you’re surrounded by stuff you simply don’t need anymore. Dig through your clutter, your attic, and the piles off stuff you haven’t looked through in awhile and determine what you can part with. Then hold a garage sale, either alone or with some neighbors. Put up signs around your neighborhood and put an ad in the newspaper.

Likewise, consider selling some of your unwanted stuff on eBay. Buyers on eBay respond more quickly and positively to postings that include images, so post pictures of the things you’re selling. A little research before you post will tell you what similar items have sold for and in which categories they were placed. If you need further help, eBay has an interactive Help application that will be very beneficial.

Craigslist is also a great place to sell stuff. Since listings are displayed by city, you know that anyone who contacts you is most likely local. This cuts down on hassles related to payment and shipping that you might experience on eBay.

All three of these options give you the opportunity to get rid of stuff you don’t need anymore while making some money in the process.

2. Deliver Food. This is definitely not the sexiest way to make money, but if you’re in a hurry for some cash, delivering pizza may be the way to go. You’ll get tips every day that you deliver, which will help out your cash flow.

3. Temp Jobs. Temporary staffing agencies are great places to look for quick work. You’ll have to visit the agency and fill out an application, but chances are that they’ll have work for you in the following few days. You can request jobs in clerical fields, in heavy labor, or anywhere in between. You’ll be paid on a weekly basis, and many temporary jobs turn into more long-term opportunities. Temp agencies are also great because they take care of tax paperwork on your behalf so that you don’t have to.

4. Take Surveys. Many online survey companies will pay you in cash for your trouble. Don’t bother with survey companies that enter you in a sweepstakes. But consider take surveys that offer prizes. Whatever you receive may be worth something if you can resell it.

5. Take Care of Kids. If you’re already staying at home with your own kids, consider offering to take care of a few more. Let people know about your services through word of mouth and by posting your offer on community bulletin boards and at schools. Check your local laws to find out the limit on the number of children you can care for as an unlicensed person, though.

6. Odd Jobs. Look around your neighborhood to see what kinds of services your neighbors might benefit from. Many folks are looking for someone to mow the lawn, shovel the snow, or clean out the attic. Distribute flyers around town to let people know what you’re offering.

It can be a little unsettling to find yourself short on cash, especially if you’re working really hard to start your own business. But don’t panic. There are plenty of ways to make money that will still allow you to work on your business as well. They may not be glamorous, but they’ll help you get by until you find yourself profiting from the business that you’ve always dreamed of.

6 Options for Funding Your Small Business

admin — Fri, 07 Nov 2008 01:30:05 +0000

6 Options for Funding Your Small Business

internet marketing Articles from Moe Tamani, the SEO Services Consultant.

One of the most burning questions entrepreneurs ask is how to go about funding their new businesses. Fortunately, there are as many answers to the question as there are businesses. This is a two-edged sword, however. While there are plenty of ways to fund a new business, the options can be overwhelming. As you ponder how you might go about funding your business, consider these 6 options:

1. Investments and Savings. This is the most logical place to start when finding business funding. If you’re serious about starting your own business, then you should be willing to put your money where your dreams are. The advantage of financing your own endeavors is that you’re not beholden to anyone if your business goes under. The disadvantage, of course, is that you can completely wipe out your savings if your business fails. So consider what percentage of your assets you’re willing to liquidate for the sake of the business.

2. Family and Friends. This is a good option for many business owners, but consider it seriously before you start asking your own friends and family for money. Borrowing money from people with whom you are close can be risky business as it can cause lots of tension. Even if they tell you that they don’t expect you to pay them back, the issue will always be the elephant in the room.

3. Second Mortgage. One option for raising money is to use the equity in your own home. This carries a lot of risk, however. The disadvantage is that the money will have to be paid back whether or not your business is a success. But the advantage is that the interest might be tax deductible on this low-interest source of funds.

4. Credit Cards. This is a very risky option, but one that many business owners opt for anyway. It’s easy to get a line of credit, and many credit card companies will be willing to let you charge great amounts. The interest rates are high, though, and you could end up with hundreds of thousands of dollars of debt if your business fails.

5. Angels. These are individuals who invest in start-up businesses in exchange for part ownership. Angels usually provide the seed money and are typically a business’s first formal investors. Be aware up front that some investors will simply give you the money and leave well enough alone. Others, however, will expect you to gladly accept whatever help or guidance they’d like to give you, so be clear from the very beginning what the role of the angel investor will be in your business.

6. Venture Capital. Venture capitalists are essentially more aggressive angel investors with much higher expectations. While angel investors will often write you a check and hand it to you with a smile, venture capitalists will write you a check and hand it to you along with an enormous pile of legal documents. They will expect to give a great deal of input, and they will probably be quite unhappy if your business isn’t run the way they feel it should be run. Instead of giving help and guidance, they will often give ultimatums and demands.

If you’re seriously considering using a venture capitalist, choose wisely. Don’t jump at the first offer you receive. If your business idea is good enough for one capitalist to be interested, it will interest others as well.

Regardless of how to choose to finance your business, spend your money wisely and follow a specific plan of spending and paying back. Consider your options carefully and choose the one that will allow you to get the job down while retaining the amount of control you’re most comfortable with. In the end, the less you have to borrow, the more you will own.

Moe Tamani's Internet Marketing and SEO Blog, Articles and Search Engine Optimization Tips » finance

6 Ways to Get Money Fast for the Broke Entrepreneur

6 Options for Funding Your Small Business