It is easier to attract small investment from familiar sources than to attract large investments from unfamiliar sources. Consider what can be done, to get started, with the following amounts.
- $200
- $500
- $750
- $1,000
- $1,500
- $2,000
These amounts are much easier to obtain than are amounts like $40,000, $135,000, $250,000 and $3,000,000. Get your new enterprise started with small investment amounts, THEN go for a $10,000 or $15,000 loan for expansion. Take sure small steps. Demonstrate to lenders that you can earn profits. Demonstrate that you have a good track record. Demonstrate that you are dependable.
Most new business fail! Why? Not enough capital to operate (so, start smaller) and not enough research ahead of time to determine if there is a profitable market for the goods or service. Don’t rent a nice store and purchase $5,000 of stock! Start by selling out of your backpack with $50 stock. Grow step by step.
Do your research, and start small! Remind yourself of this often.
