Getting Started With Crowdfunding
- Author Otha Gollob
- Published May 25, 2015
- Word count 705
Get The Capital You Want In Small Business
In my most recent columns we've covered issues about improving your small business and marketing, but today let's address crowdfunding for small businesses.
You're really getting tired of the lack of available capital for expansion and are thinking about chucking it for crowdfunding.
You keep thinking about it because you know that you'll never be financially where you want to be with a weekly paycheck, but what business would you start?
Before you pack in that weekly paycheck, this is the time to evaluate yourself and your future and it takes some real, down to heart honesty. You want to change your life for the better, so let's start.
Did you know that you have the potential to do and be anything you want? People have different perceptions of the ideal life, and it ranges from obtaining financial freedom to as simple as owning a new pair of sneakers. Unfortunately, many fail to reach their aspirations because they can't get a solid, clear picture in their mind of what they want.
Having available capital using crowdfunding could make it possible for you to expand your business. Brenda Hamilton, a securities and going public attorney stated that, "crowdfunding will open doors not only for private companies going public but for private small businesses who choose not to go public."
Get a pad and pencil and start with this first step:
STEP 1 - KNOW EXACTLY WHAT YOU WANT - Be specific in your goals and decide if crowdfunding is right for you and your business. Then decide if you are ready to take the leap and go public.
Those who always change their minds and those who give up easily when the going gets tough will never get anywhere. If this sounds like you then going public isn't for you.
Write down all your possible options for capital raising and how it will be spent.
When that's done, go back and circle five to seven items that interest you the most. Then evaluate and choose with mind, the one and only thing worthy to spend all your time and resources on and that brings out the best in you.
Now you may wind up with something like, "I want to play quarterback for the RAMS." If you're over 20 I'd say that isn't too viable a choice, but you could do something related to football or sports. How about starting a sports publication? Or perhaps a sporting goods retail business, sports memorabilia business, or even a gym could be the answer. You can always read books and surf the net to help you in your search.
The most important thing to remember, no matter how "pie in the sky" it seems, is to USE YOUR HEAD AND HIRE THE RIGHT PROFESSIONALS. Others may disagree with you, but you should be firm with what you really want. Others may offer comments or advice, but the final decision is always yours to make. You should concentrate on what you want, not what others want.
Remember you only get one shot at living your life. There are no replays and you don't get to do it over. You may not do it right, but at least you're doing it. Too many lives have been lived in quiet desperation waiting until - until they had saved a nest egg, until the children are out of school, until I retire, and they depart this life before "until" ever arrives.
Don't go to sleep tonight without making a decision on WHAT YOU REALLY WANT IN LIFE MORE THAN ANYTHING ELSE.
Then spend a few days evaluating how to make it possible and make a living at it. Begin living every day as if it were the last day you had - never leaving anything to be done next week, next month, or next year.
There will always be bills, things will always break down eventually and need replacing, there may be storms and earthquakes and repairs - but there will only be one life for you to live. It can't be put on "hold"!
The final outcome of your efforts may be in the future, but you're living each day by taking steps toward that outcome.
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