We often hear the excuse, “I can't start a business, I don't have any money.” In today's post, we're going to show you some ways to build capital so you can build your business one step at a time.
Ways to Build Capital For Your Business
- Barter: Trade services for someone in exchange for inventory they may have
- Offer Services: Do a few extra jobs to earn money for your business – babysitting, house cleaning, baking, cooking, errands, shopping, skilled trades, painting, carpooling, bookkeeping, computer repair
- Examine Your Monthly Bills: There is often room for improvement in your monthly bills. Call the companies and ask for bundling discounts, higher deductibles or lower interest rates to get your monthly costs down. Use the new found savings to invest in your business.
- Credit or Loans: Although we advise proceeding with extreme caution, if you have a great credit rating, sometimes a loan or credit card is all you need to begin funding your business. Aim to pay it off each month while building up inventory.
- Be Willing to Sacrifice: All business start-ups take money. What are you willing to give up in the beginning in order to fund your future? Maybe it is a trip or two to Starbucks or skipping the drive thru one extra time but it all adds up in the end.
- Have a Garage Sale: Everyone has unwanted items in their how just collecting dust. Have a yard sale and use the proceeds to fund your business. Bad weather? List items on Craigslist or Facebook swap and sale sites.
- Sell Items Online: Sell items not worthy of your Amazon store on eBay or apps like offer up or let go.
If you're struggling to find cash to start your dream business. Pick one of the above ideas and take the necessary steps to make it happen.
Stay tuned for Part 2 of Jump Start Your Amazon FBA Business where we give you ideas to find free and low-cost inventory for your Amazon business.