Video from our FREE Online Business Course
http://www.myownbusiness.org
Session 9 How to Finance Your Business
Question:
"Raising start-up money is one of the great hurdles in starting a business. Would you have any recommendations or some basic do's and don'ts as to how people should go about this great challenge?"
Rod Banks
Executive Vice President, City National Bank
Topics covered in this video:
Starting a business, financing, loans, writing a business plan
Transcript:
First off, before you begin to think about getting your start-up money together, you need to have a business plan. And once you put the business plan together it will help you to determine how much money you need to start your business. Once you determine the amount, then you've got to decide: where is the best place to get it? In today's world it is very difficult to go to a commercial bank--the typical bank you see on the street-- for a start-up business type of loan.
A lot of first time entrepreneurs will start off by using their own personal savings or look to a friend or a relative to see if they can get a friendly partner in with them. Some people will look at putting a lien to some degree on their home. Because of the credit card boom, a lot of people today will take credit card solicitations that come out. And it's perfectly okay to take one of these low interest rate credit card offers if you manage it in a very responsible manner.
Hey cool vid and some cool content, an internet business will allow you to start small and leverage big, not much money to start
robbrightofficial 8 months ago
Hello,
The video is fantastic
keep it up
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bestva1 9 months ago
Start small... If you can make money... EXPAND.
DackIsBack 10 months ago
I am old school, my business expenses are paid for with cash. I just did a video that applies here, it speaks of funding your marketing.
NateWorksFromHome 11 months ago
Getting most common investors is a very good business plan. Free business plan template from
unitedbizbooks. com/business_pro.php . There are many ways to start but be prepared.Best Wishes
MegaBenny65 1 year ago
Raise capital and negotiate secondary trading of equity and debt on UnifiedMarkets.
robrown1 2 years ago
I don't have friends/relatives with money. Its ridiculous I need investment partners for a great start up. I have formulated a plan. I just need the start up money. any better advice.
agenthelios 2 years ago
I want to start a buisness as a freelance artist. How would I write a buisness plan for that?
PeacefulParadox 2 years ago
very good tip
JasonSilvestri 3 years ago