Chapter 5
Tapping into Personal Funding Options
IN THIS CHAPTER
Using personal savings, credit, and assets as funding sources
Knowing the benefits and risks of using personal finances for your startup
Keeping your personal finances and credit in order
After the euphoria of your business idea wears off, the next question you’re probably asking is more sobering: “Where can I find the money to make it happen?”
Although the road ahead provides a plethora of opportunities for obtaining financing for your startup, one source of capital that is frequently ignored is one’s own pockets. In this chapter, we will discuss the power of personal finance choices and how you may make the most of your own financial resources to transform your vision of entrepreneurship into a reality.
Using Personal Savings, Credit, and Assets as Funding Sources
Starting a business requires a leap of faith, and for many would-be business owners, that leap of faith begins with their own personal wealth.
There is a common misconception among entrepreneurs regarding the significance of personal funding. After all, your funds, investments, and assets can serve as a solid foundation for your new venture. What’s more, ...