To own a business is like having a kid. You want them to have the best life possible and thrive to become a successful person. But for that, there is a lot of preparation that you need to do, similar to raising a kid from the baby stage. Even before the baby is born, the parent already prepares for the room, clothes, diapers, and many other things. For a business, you need to equip yourself with a lot of planning from marketing, sales, product and service, production process, distribution, resources, partner and arguably the most important of all is finance.
You need to know your numbers. How much do you need to produce your product or service, how much do you want to sell it, how many profits can you make, and how many much money do you need to run the business. From all of this you need to figure out the investment plan and how do you want to fund the company. Here are some ways you do it.
Merchant Cash Advance
MCA or Merchant Cash Advance is the perfect way to fund a small business. Because it does not have a complicated process and you can do that quickly. How it works is a cash advance company will give you the cash that you need, and you can pay back later with your sales profit percentage.
Many types of Investors
According to your needs, there are many types of investors that you can approach. From peers to peers where you can ask your friends and families, to venture capitalist where they are only interested in a business that is already running on a bigger scale and will usually request to have a voice in the board of directors.
One of the oldest way to help your business financial is to apply for a loan from banks. Though the interest might be quite high and there are a lot of documents that you have to prepare which is why not everyone wants to choose this way.
The last way that you can start or keep your business running is through personal funding. If you have the money or have saved enough to do so, then this is an option. The good thing is you will own your business alone, and there is no loan that you have to pay. But there is a significant amount of risk where you can lose a lot of money in the process of building your company.…Continue reading »