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10 Ways to Finance Your Business | Brian Tracy
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10 Ways to Finance Your Business | Brian Tracy

Introduction

Brian Tracy shares insights on financing new businesses and discusses various methods to secure funding.

Ways to Finance Your Business

  • 68% of startup financing comes from the business owner's pocket.
  • Angel investors provide capital in exchange for high returns, industry knowledge, and guidance.
  • Pros of angel investors include quick decisions, cons involve giving up a part of the business or control.
  • Friends and family can offer financial support out of love but may become demanding; clear agreements are crucial.

Raising Money for Small Businesses

This section discusses various methods small businesses can use to raise money, including collateral requirements, micro loans, social lending, trade credit, and financing from customers.

Collateral Requirements and Micro Loans

  • Collateral requirements are minimal for business operations with a personal guarantee.
  • Micro loans are small short-term loans provided by the Small Business Administration (SBA).

Applying for Micro Loans

  • To apply for a micro loan, one must be within the local lending area of nonprofit intermediaries processing micro loans.
  • Most micro lenders require borrowers to complete business training and planning seminars before receiving the loan.

Social Lending and Trade Credit

  • Social lending involves individuals applying for loans from others through online platforms where funds are pooled.
  • Lenders focus on repayment timelines and potential returns when lending money.
  • Trade credit is based on trust and can be crucial for starting a business without significant initial capital.

Financing from Customers

  • Businesses can ask customers for deposits or full payments in advance to fund operations.
Video description

Where do you get money to finance a business? 68% of startup financing comes directly from the owner's pocket, but there are many other ways to earn money for your new business. If you are creative you can start a business with very little money down. Watch this video to find out how. https://bit.ly/30vgWVW If you're looking for an entrepreneur's guide to building a profitable business you've come to the right place. Click the link above to download my Way to Wealth guide and start applying these techniques to your business today. 0:27- How do I finance a business? 0:53- Make money by selling high priced items 1:10- Work with Angel Investors 2:30- Obtain love money from friends and family 3:33- Get large amounts of capital quickly by using a credit card 4:28- Banks are in the business of making good loans 7:21- Take advantage of social lending or crowdfunding ___________________ Learn more: Give me a follow on Clubhouse! @briantracy — see you there! Subscribe to my channel for free offers, tips and more! YouTube: http://ow.ly/ScHSb Facebook: http://www.facebook.com/BrianTracyPage Twitter: http://www.twitter.com/BrianTracy Google+: +BrianTracyOfficialPage Pinterest: http://www.pinterest.com/BrianTracy Instagram: @TheBrianTracy Blog: http://bit.ly/1rc4hlg how to make money, fund a business, start a business, raising money, finance and start a business