Money Money Money
That's the stuff that seems to vanish into thin air when starting a business. From talking to thousands of small business owners over the years, that's the one thing that's in short supply. Every time you turn around, somebody wants money for something.
A little tip – when hiring a company for certain services, ask if they offer payment plans. Any service company that caters to the small business owner should understand the financial burden starting a business entails & well, it never hurts to ask. TradeMark Express started a payment plan option years ago and while it requires a bit more effort in the bookkeeping department, the benefit it provides to our clients is more than worth it.
Business loans are a viable option for many folks and, like anything I talk about here, research this process fully before you embroil yourself into something like this.
To get started, I suggest contacting the Small Business Administration (SBA). Entrepreneur also offers a great site dedicated to money & finance.
Research, research, research – this cannot be stressed enough. Read as much as you can about the process. Here are some book titles that are relevant:
* How to Get a Small Business Loan: A Banker Shows You Exactly What to Do to Get a Loan (Small Business Series, No 1) by Bryan E. Milling
* The SBA Loan Book: Get A Small Business Loan--even With Poor Credit, Weak Collateral, And No Experience by Charles H. Green
* Secrets Lenders Never Told You: Get Your Business Loan Approved by Patricia H. Wesson
There are plenty of free informational resources out there:
• Get Yourself Started with Small Business Loans by Tim Kelly
• Small Business Lenders by Matt Bacak
• Small Business Loans for Small Business Owners by David Gass
• Small Business Loan Basics by Joseph Kenny
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A VIS (Very Important Step) for your New Business