by BusinessMoney, Window Shopper
- Created: January 26, 2014, 6:51 am
I want to see if we can get a list of ideas together about how to bootstrap a small business. Many times (most of the time actually) new businesses or even struggling business have no other option but to bootstrap their companies as they just do not qualify for other, more traditional financing options. In a nut shell, bootstrapping encompasses any and all methods of getting capital (or even trade) for your business. Typically, bootstrapping could mean using personal resources like savings or personal loans or it could be loans or investments from friends and family or even using retirement funds to start or grow a business. Other times, and it is here that we want to focus, entrepreneurs find unique ways that get them to their financing goals. I recently read a story about a business owner who rented out here apartment for a little extra money to finance her business. Or, the person that sold off a lot of her personal stuff (stuff she did not need currently and would not need in the near future) to get some capital to start her business. The goal is to try to get a list of what other techniques people have used – non-traditional ways – to fund their businesses. Because, there should be as many unique ways to funds a business as there are businesses. And, these tips can help others in finding way to finance their companies or at the least help lead them down a path where they can find their own unique way to bootstrap their new or growing companies.
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