What Works?
Whatever sources you eventually use to fund your business, it will nevertheless be true that there are some things you can do to ensure that you get fully funded, and make no mistake about it—not having all the money you need seriously damages your ability to successfully execute your plans. Now, is it true that you may not get all the money you want, or when you want it? Of course. In fact, it is probably safe to say that a majority of startups begin with less than optimal funding. Yet even so, the following tips will assist you in getting as close to that magic 100 percent funded figure as possible.
(Note: This book is intended to offer a multitude of funding options for whatever needs a reader may have, be it starting a business, expanding, meeting payroll, or what have you. Accordingly, those options will generally be used interchangeably herein, unless circumstances require otherwise; i.e., a resource is more applicable to startups than growth.)
Understand the difference between debt and equity financing. Historically, there have been two ways to finance a business—debt financing and equity financing. (Note: Today, there are many more options available that don't fall so easily into these broad categories, for example, a new concept called crowdfunding. These too will be discussed thoroughly.)
Debt financing is, as the name suggests, where you take on debt to finance the business. This may be a bank or family loan, for instance, but whatever type it is, the distinguishing ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access