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.