Top Question I get; How I raise the Capital to Start my Business?

Hello my people!!! I hope that everyone is alright and ready for April 15...pain day, hahaha!

I was thinking about this week's blog and again, the same question came from another person starting a buisness, in all the years I've been helping people that want to start their own business, the top question is; How I raise the money to start my business?

You have to be creative and sacrifice a little bit, like when you decide to lose weight, you sacrifice but if you do your abs and eat your vegetables, you will see results. In this next case I'm going to use as an example I'm going to change the name of my customer, to protect his identity.

Charles finished mechanic's school a couple of years ago, and he was working for some of the big companies. He was receivng a great salary and he had nice supervisors, but his dream was to be a car workshop owner someday, the only problem was that he didn't knew where to start. When I met him 8 years ago, he was thinking about making a loan, but since his credit score was a little low the interest rate was going to be high.

I explain to him that a loan was not a good idea in his case and was not the best way to start a business and he could explore other options. The business plan I designed for him was very simple and it's one that I have applied to different business owners I know. Charles needed at least $25,000 to start, so my suggestion was to start plan where the goal was to raise that money in 1 year. Charles was going to work on the weekends at his house reparirng his friends cars, at a lower price because he didn't had the expences that big companies had. The money he was going to make was to be deposited in a commercial account he was going to open for the business with the "Fictitious Name" he received from Sunbiz.org.

In less than 6 months Charles already had $15,000, so we were going at a good pace. His friends were reccomending their friends and his cutomer list was growing. Now people were asking when and where he was going to open his workshop. During this time Charles found out about possible places and rents in the area he wanted to open, he also found out about vendors and suppliers, what kind of permits and other information.

He followed our advise and opened a Facebook, Instagram, Twitter, Google and Linked In page for his business. He started sharing tips and answering questions to his followers on social Media. He also bought his domain name and started working with a company to set up his Website. Social Media has been an excellent tool for Charles because it attracks new customers and let him advertise totally free any new service or promotions he may have.

The reality is that you can get investor to put money for your business start up, but your are giving away part of your company before even starting, my point is that you can be your own investor. Am I saying that you can't borrow money from the bank? Well if you have an order for $20,000 and you need $5,000 to buy inventory to fulfill the order, then I'm all up for financing, because probably in 30 days you'll get the payment and then you go and pay off your debt. But if you are starting with a product that is new, I don't suggest that you borrow, becuse you start with a debt and that is never good. maybe it will take you a little bit moe of time, but you will be more in peace.

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