Secret To My Financing
Entrepreneurs share how they got their start-up funds
For most people, one of the most challenging parts of starting a business is funding it. Chances are, you'll demonstrate some of your best creativity and perseverance as you assemble your start-up capital. But remember, you won't be the first--or the last--person to struggle with this issue. Take heart and ideas from successful business owners who've been where you are.
Have good credit. In 1993, Eric J. Ruff, 42, started PowerQuest Corp. in Orem, Utah, with a few thousand dollars in personal savings and a $50,000 consulting contract. But because it took the young software developer two years to get his first product out, those start-up resources didn't last long. With no product, and therefore no income to repay a loan, he wasn't a prime candidate to commercial lenders.
Continue reading this article - and everything on Entrepreneur!
We make some of our best content available to Entrepreneur subscribers only. Become a subscriber for just $5 to get an ad-free experience, exclusive access to premium content like this, and unlock special discounts.
Entrepreneur Editors' Picks
Crypto Doesn't Have to Be Serious. Just Ask This Comedian Who Organized a Conference About Failure in the Industry.
Want to Succeed? Turn Your Fixed Mindset Into a Growth Mindset.
Google's CEO Is Asking Employees 3 Simple Questions to Boost Productivity
'Greatest Storyteller Wins.' Katy Perry on the Surprising Link Between Pop Stardom and Entrepreneurship.
The 5 Personalities You Meet in a Coworking Space
'Man's Best Friend' — and Investment: The Thriving Industry of Pet-Related Franchising