The first thing that comes to every “would-be” entrepreneur’s mind after coming up with a business idea is how to fund it. Is proper to think about money because having money or lack of it will play a key role in weather you fail or survive. Entrepreneurship is tough on its own for those that are heavily funded, what will now happen to the lean and short of cash. How will they get to fund their company and stand a chance of success?
While it is okay for the adrenaline rush of a brilliant idea to keep pushing you to start your own business; to look for funds in all nooks and creeks to finance it, however, the best way to fund your business is not to start it at all. Good businesses fund themselves. As the individual driving your potential company, you must know when to hold on and when it is time to formally announce to the world that you are in the business status.
What is it that you want to do, find a way to do it professionally and then use the income from the outcome to fund your business. – Oscar Josiah
I started designing websites professionally in 2009. When I started, I did not rush to start a company. I knew I wanted a business out of it but I bid my time and freelanced. I was able to combine a lot of other jobs to keep going. Taking part time jobs often in order to keep paying the bills. When I finally started geeksvillage in 2013, I have accumulated enough clients that it was impossible to fail. We can even decide not to work for a year and we will keep making money. Our customers are on recurring and geeksvillage is benefiting from me taking my time to build client base before officially launching. To put it in other words, our clients started geeksvillage for us.
What is it that you want to do, find a way to do it professionally and then use the income from the outcome to fund your business. Do you want to start a pizza hut, make and sell pizza from your home. Do home delivery and accumulate customers. Is only when you have enough customers buying from you in a week, is only then you are to start your business. No need to ask for funding. No need to disturb your innocent rich uncle for loan. Do it using this method and you can grow steadily while sleeping nights.
While the tag business owner and entrepreneur might be tempting and you will love to hasten the process; wait. Nothing is cool about a failure. Take your time, build your client base. Let them be the ones urging you to start your business. Don’t worry entrepreneurship will still be here when you are ready.
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