Innovative Ways To Raise Capital For A New Business

In my quest to get out from being a corporate monkey for the rest of my life, I have gone about starting my own business.  The get the required training that I need, and business promotion from seo mississauga, I had to raise capital from time to time.  I am currently working at a full time job.  I don’t mind the work that I do, but I will never make me wealthy.  You can never get wealthy working for someone else.  That is a universal rule.  Here is a rundown of some of the things that I have done to raise money

Pawn and Sell

There should be no embarrassment or shame in getting rid of stuff or taking out a loan on some of the things that you own.  You are tying to make a better future for yourself and your family.  Once successful, you may even be able to help your friends and give money to charity.  I have sold and pawned a Swiss watch and other jewellery, electronics, books, etc.  I am on the path to freedom and I have no shame in pawning or selling things so that I can have a better life.

Raid your retirement fund

I’m sure your standard financial planner will always say that raiding the retirement fund is never a good idea.  I feel that working for companies for 40 years and getting nothing in return is a bad idea.  I’ll take the tax hit now and fund my business and pay for the requisite training and mentorship so that I can get ahead.

Bank loan or line of credit

If your credit is good, why not take out a bank loan or line of credit to help you achieve your dream?  It is for something purposeful and your not going out and buying a depleting asset like a TV or a car.

Hit up your rich father as a last resort

This would be my last resort if I was in a real bind.  I had to do this once when a rental property I have got into some financial trouble.  My father helped me out and I was able to pay him back in a few months.

Always remember, you will always need capital to start a business.  It might be your funds, or someone else’s funds.  Never be ashamed to do anything morally, ethically, or legally correct to get the funds you need to start your business.

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