One of the most difficult tasks in starting a new business is obtaining necessary start-up capital. There are so many costs associated with starting a business and many people feel overwhelmed at just the thought of striking out on their entrepreneurial pursuits.
I know numerous talented, creative and hard-working individuals who have come up with an innovative product or idea and/or who can offer services that nobody has ever implemented, but lack the funding and confidence to pursue them alone. Though lack of funding and investors may serve as the biggest hindrance in the edification of such ideas, products and businesses, there are ways to grow a business without actually needing the assistance of outside investors.
Develop a product or service that is so high in quality, you are able to ask for “bolder price points to match the quality” of what you are offering. It is about believing in your product and service and making others believe in it as well.
2) Forgo Loans and Investors
Years ago I talked a client out of giving up a piece of her business in order to fund several projects she had in the pipeline. I simply believed she could get through the tough time by herself and also that the potential investor lacked the passion to really push the company to the next level. Though bringing investors on board appears to work for those on “Shark Tank,” if you aren’t certain your investment partner will have the same goals and philosophies as you, then it is not worth the headache.
3) Don’t Bite Off More Than You Can Chew
Start off with small orders, projects and sales. Small deals can be more profitable than larger ones and they are great stepping stones to eliminate some unnecessary risks while getting your name, products and services to the masses. The more confidence you build in yourself and your products and services, the more you are likely to make better decisions for the future of your company.
4) Accept The Fact That It Is All On You
You will undoubtedly have to take on all of the risks. If you need money to produce your widgets, you will have to invest your own, even if it is at a slow pace. By investing in yourself, you prove to others that you actually believe in and support your own product. Never expect others to do for you and your new business what you are not willing to do for yourself.
1. Me & the homie @jaleelwhite #RujohnFoundation Happy to be in Jamaica! Good times
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5. Good Morning. Early day in Detroit! Making press rounds for @thebossnetwork's Ladies That Lead Tour. Thank you @traycemadre and @colourbynumbr for my glam.
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6. POWER the best show on TV @djenvy, Queens we so big out here. #EFFENVODKA #FRIGO
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7. They said u lost a step, wasn't explosive as once was, the best days was in the real view, questioned your drive, your leadership, your commitment, you don't have killer instinct, going back home is the worst mistake in your career, he got the coach fired, players traded, won't work between him and Kyrie, Him and Kev won't work, love your teammates to much, there's no way he can deliver a championship in his hometown, etc etc etc.... But guess what THATS NONE OF MY BUSINESS #StriveForGreatness #ThisOneIsForTheLand #PutSomeRespeckOnMyName Hahahaha!!! Yes sir
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8. Oooooh weeee this man right here is responsible for at least three of our four babies!! #JOE ❤❤❤🎤 #rnb #king #voicelikebutter #ForPeetesSake
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9. Hanging with my @abcnetwork family! @abcunclebuck tonite y'all check us out ! @anthonyanderson @traceeellisross
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10. My broski ( @sayeedshahidi ) and I are on Top 5 Live on @go90 at 5 (which is super duper close)! Make sure to tune in :) #UncleBuck #Blackish
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11. Lights out💤 #GoodNight
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12. Late nights mornings
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13. Ran into the lovely talented @siedahgarrett on this brutiful favvuz deh!
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14. #halal #love #thedargans #kattwilliamsSHOW #mashallah when that Jennah piece HIT!! @sweetjennahcollection glasses by @baddieglamaccessories LIZ 😍 @dynamiteko top @dazzledmv and jeans @thevision414 and shoes: @louboutinworld
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15. Big Hair and Optical Illusions #OceanDrive #MiamiLiving #coverparty
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16. MAMA and THE SAVAGES ... ⚓️ #supportyourlocalgirlgang
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17. From the bottom of my ❤️, thank you new followers & old! & hello fellow night owls! #grateful #racheltrue #naturalhair #curlyhair #curlygirl #healthyhair
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18. I feel so grateful because I met these amazing young minds, visiting from Houston TX, during their college tour stop today at #usc.These students are ALL extraordinary and embody academic excellence so I'm humbled to have shared a few moments with them to applaud and celebrate their bright futures ahead! Thank you @EmergeFellows for inviting me to speak and blessing me with your love and attention this afternoon!
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19. Happy Fathers Day Pops. U taught me how to be a man. Lessons of love, hard work & gratefulness. Sorry the fishing didn't stick. LOL. I Love U!
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20. Sky Zone and Ice Cream! Best Fathers Day Ever!! Photo credit @mariahcarey
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21. Look what finally came in the mail 😎 #mtvmovieawards2016 💥+🌽! #straightouttacompton
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22. Claudia Jordan: ....
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23. 'Member that time I almost knocked a bajillion dollar camera off the car? Really? Yeah, me neither! #Greenleaf Episode 2 comin atcha!
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24. Full of love. #birthday #Cabo
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25. Oh hey! Look who just joined Snapchat
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