So, you’ve got money on the brain. There’s this awesome business opportunity that you really want to join but you don’t quite have enough money. Or maybe you want to join at the highest level available to position yourself for the most income. Maybe you’re already in a great business but you don’t have enough money to put into paid advertising and you know that would definitely help you recruit lots of people.
Today I’m going to share with you some clever ideas on how to raise money for a business that you may not have thought about.
Take On A Partner
Before you partner with anyone, you need to make sure your interests are aligned. If it’s a true silent partner, someone who does it for the investment and reward only, it shouldn’t really matter. You may not have the money you need but someone you know and trust might just have some money saved up or stashed away and if you trust them then they probably trust you. At least enough to have a business discussion with them. Explain your situation. Tell them it’s a business investment that you are very serious about. Then offer something like 30% or 35% of your take home profits. Be sure to explain that there probably won’t be any profit for several months because you need to be able to reinvest any earnings into the business to help it grow.
Here’s an example you can use in your discussion. I’m picking these numbers out of a hat, so to speak, so adjust as necessary based on what you actually need. Let’s say you need $3000 and your old college buddy is the person you want to ask. If it takes you one year to build up to a $3000 a month income with your business and your buddy gives you a one-time $3000 cash, then after one year they could have an extra $1000 a month coming in that should continue to grow every month as your business grows.
Take On A Student Or Two
This will probably work best if you only need a small amount of money like a few hundred or maybe $1000. There are 10’s of thousands of people out there who would love to learn how to make money online. Most of which have no idea what to do or how to do it. You could offer to teach or coach some people and charge them a monthly fee or an annual fee. The more students you have the more time it will consume so keep that in mind.
I wouldn’t be too concerned with what you don’t know. Chances are you know a lot more than anyone actively searching for a coach or mentor. And what you don’t know you can always learn and then pass on that information to your students. As an added benefit, you could end up with some very loyal followers.
Sell What You Haven’t Used
You may have already considered selling things but I did too, once upon a time, and then I heard someone shoot off a bunch of ideas that I had never even thought about and the next thing I knew I had this list of items to sell. Think about anything you own that you haven’t touched in 6 months or more. Now some items are seasonal so it would make sense that you haven’t touched them in 6 months. Like skis or golf clubs or a surf board. Take a walk through your home and don’t forget to go through your garage, shed or attic. Look in the closets. Look through desk or kitchen drawers.
As much as you may love whatever you find, if you aren’t using it then maybe it’s time to let someone else pay you to enjoy that item for awhile. Once your business takes off you can always replace that item with a newer or better version.
Half the consumers who purchase a cell phone, tablet or MP3 player keep their old device around to collect dust. Look for a local ecoATM in your area for a quick way to turn old mobile devices in cash and help the environment at the same time.
For a quick sale of any other items you find, you can use Ebay, Craigslist, uSell or Gazelle.
Monetize Your Talents, Skills or Hobbies
There are always people willing to pay someone else for a service or skill that they cannot call their own. Do you like to write? Can you draw or sketch? Are you good at graphic design? Do you have a good singing or speaking voice? Check out Fiverr.com, what they call a Gig site. Although they advertise that everything costs $5, that does not mean you are limited to $5 per gig. Search a topic you are interested in and look at some of the sellers and what they do to get a lot more than $5 per gig. You can also sell your services on freelance sites like Odesk.com.
Love Dogs? Become A Dog Sitter
With sites like DogVacay and Rover that match dog owners with sitters and walkers, making money as a dog sitter is now pretty easy. You can host the dog yourself or you can stay at the owners house. Rates are typically between $20 and $60 a night. If you’re a dog lover then you know how people consider their dog part of the family. Kennels might be cheaper but most owners will gladly pay more so their cherished pup is not caged up the whole time they are gone.
Rent Out A Room
Airbnb isn’t just for people with vacation homes or condo’s to rent out. Check out the sites’ listings and you will see that many of them are for rooms for rent. The more desirable your area, the more you can charge. The website has an example of a somewhat rural town in Virginia that costs $725 a week to rent a room. The site also helps you estimate how much you can make.
It’s free to create a listing. There is a 3% service fee only after a reservation is made. Airbnb releases payment to the host 24 hours after the guests check in.
Become A Rideshare Driver
You’ve no doubt heard about Uber and Lyft by now. You may have even used the services yourself and have one or both of their apps installed on your cell phone. Taxi’s are very expensive so I for one am not surprised that both of these services have gotten as popular as they are.
Since you do have to pay for your own gas, it would be wise to do this only if you have an economical vehicle. Otherwise you may not have much in the way of profits. Uber and Lyft drivers normally make $10-15 per trip. It could be more in some areas. If your evenings and weekends are open, this could generate some nice cash for you.
Loans Especially For Veterans
Ok, I saved this idea for last because it’s much more specialized and won’t apply to everyone but since I’m a Disabled USAF Veteran, I wanted to make sure other veterans were aware of this because it’s a really good deal and wasn’t available back when I first started online.
The U.S. Small Business Administration (SBA) has always offered small business loans but it wasn’t until mid 2014 that they started offering extremely low interest loans as part of their new Veteran-Owned Businesses program. Specifically for U.S. Military Veterans or Service-Disabled Veterans it’s their way of helping veterans. This does require that you put a business plan together but they help with that, too. You could know nothing about business plans and still come up with exactly what they want. They even offer assistance on preparing business taxes. Even if you are not a U.S. Veteran yourself, if you know someone who is and could use a helping hand to get back on their feet again, so to speak, or if you run into a prospect who happens to be a veteran, now you can guide them to the money.
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