This is it; you have the most amazing idea for a new business that is going to take the world by storm and generate life-changing amounts of money. If you can get it off the ground, that is. Starting a business takes capital, but where do you find extra cash, even just $500? It's time to dig deep and learn what it really means to be an entrepreneur.
1. Max Out Your Credit Cards. Sure, this bit of advice might make a financial planner gasp in horror, but plenty of the greats have used this strategy to start their businesses.
2. Grab a Payday Loan. If you are using a payday-style loan to pay your electric bill, it's probably not the best lifestyle choice. If, however, you are strategically using the money to launch your start-up and have factored in the cost of borrowing these funds into your business plan, go for it. It's part of the cost of doing business, right?!
3. List Your Stuff on eBay. Not thrilled with the idea of going into debt? Try scraping up as much cash as possible by selling anything and everything that you haven't used in six months or more. Experts state that if you haven't used an item in that time frame, chances are you do not need it.
4. Sell Your Gold Jewelry. Do the same thing with your gold jewelry. It's not 1978 anymore. That gold chain hasn't seen the light of day in decades. Dig it out of your jewelry box and try selling your gold jewelry for some quick cash to build the business of your dreams.
5. Try the 'Ramen Diet'. While everyone jokes that startups live on cheap boxes of ramen noodles, it's probably not the wisest choice for your health. You can, however, raid your grocery budget. Cut out every luxury, from dinner out to $4 lattes. Buy 'off' brands., use coupons, eat meat that is on sale; you can do this. Besides, it is only temporary.
6. Get a Second Job (or a Third). No one said this was going to be easy. If your first job barely pays the regular bills, get a second to bankroll the business. You may not have much of a social life, but if you stay focused on your ultimate goal, it will all be worth it.
7. Beg Your Parents. While never a fun prospect, you can hit up family and friends for a loan. Heck - Barbara Corcoran used a $1,000 loan from an ex-boyfriend and grew it into a (gulp) 66 million dollar business!
Remember that you've got this!
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