Funding your business
In order to be able to feed your business with the money it needs to live, you need to raise funding for at least the largest negative number on your cash flow forecast. It’s actually much wiser to raise a fair bit more than this to be prepared for unexpected events.
I go into much more detail on this complex subject in my book How to Fund Your Business, but here I’ll give a brief overview.
Funding can come from one, or more, of the following sources:
Your customers. This is nearly always overlooked – but it’s absolutely the best way to fund a start-up! Your customers want your service, so can you use your entrepreneurial charm to persuade them to pay you for it in advance?
You. Do you and your business partners have savings ...