How To Budget For Success
Funding Options
Did you fund your start-up with a traditional business loan?
Probably not. Typically, home businesses seek smaller start-up
loans than are profitable for financial institutions. Simply put,
lenders can't make enough money from a $5,000 or $10,000 loan
to make the risk worth their while. Home business start-ups also
have difficulty securing traditional small-business loans due to
their lack of significant tangible assets, such as equipment, real
estate and receivables, to use as collateral. The SBA offers a
MicroLoan Program primarily for start-ups owned by women and
minorities in inner cities and rural areas. But most homebased
business owners fund their own start-ups using their savings,
personal loans and lines of credit, loans from family and friends,
and credit cards. If you've started your business using your own funds, you
may be tempted to cover the cost of your equipment and overlook
other critical components to success, including sales and marketing
programs. Businesses that use bank financing to cover their
start-up costs rarely make this mistake, because to obtain a bank
loan you must have an effective business plan that details
important information such as who you'll market to, why
they'll want to buy from you, your sales and marketing
strategies and marketing budget.
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What makes a good client gift?
What guidelines do you follow when buying gifts for your clients? Have you ever received an unusual or inappropriate gift?
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