If you have a desire burning inside you that will only be satisfied by working for yourself. Or if you have had enough of working for someone else and building something that isn’t yours. And you would rather put in 12 hours for yourself that 8 hours for somebody else. Then you might be an entrepreneur. And you should keep reading.
There is more than one way to own a business for a small investment, here are a few ideas:
Friends or Family- Not the best answer but a possibility. A Friend or Family member may wish to invest in what you are doing or perhaps give you a gift toward the business.
Partnership- A partner may be willing to take a larger portion of the profits if he invests more in the business. An agreement would need to be drawn up and checked over by a lawyer. More duties may be assigned to you if you are investing less capital. Click here to read more about partnerships.
Loans- If you have a great idea or a franchise that is a “sure thing” a bank may be willing to lend you a much higher portion of capital than normal if you have a co-signer or are willing to put your home up as collateral. Yikes!
Reselling items- Don’t chuckle but garage sales and items people are throwing away can become someone else’s treasure. I know of a person who made a good living( in a city) from driving back alleys and picking up BBQ’s, TV’s, or furniture items that other people were throwing out then selling them in an auction for a full profit. We have all seen the up-cycling shows on stations such as HGTV.
Sell your skills- If you are a handyman or a good painter you could hire yourself out to do repairs and gradually build up your tools and supply inventory as the money comes in.
Online Business– Or do as I do. Start an online business where you can take a hobby or special interest you have and create affiliate marketing websites that will generate an income for you and your family. Here is my Wealthy Affiliate review have a look here.
If you have any questions or comments about this, please leave them below. I’d love to hear them.