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/biz/ - Business & Finance

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714601 No.714601 [Reply] [Original]

I don't know anything about starting my own business but I'm trying to learn. I know what kind of business I want and I believe it will be successful in my market area.... the problem is that I know shit about getting financial help to start said business. It's going to be over $300,000. Is this a pipe dream for me?

>> No.714604

>>714601
I forgot to mention that I have pretty much zero capital and no one to invest.... sign.

>> No.714625

offer someone who trusts you a share of your future profits (for a set time) in exchange for a loan now.

>> No.714631

>>714625
I don't really know anyone like that. I have several people I would definitely partner with but they don't really have any capital either.

>> No.714638

No chance for a regular loan from a bank or other institution then? Does the government of your country offer some kind of financial aid for starting up small businesses?

>> No.714643

>>714638
I briefly looked into government aid... but nothing because I'm a white male =/
I don't have bad credit... but whats the likelihood of a bank giving a guy in his 20s that kind of money?

>> No.714645

>>714643
What are you talking about, unless you live in Zimbabwe that's not a factor.

It might not be as EASY to get, but look a little harder. If you give up at the first hurdle then there's a reason nobody wants to invest in you.

Get hungry for it.

>> No.714651

At least you have an idea of the cost(s). Look up and learn as much as you can about putting together a solid business plan. Put together some future projections based on a number of contingencies that are most possible. You'll at least want to know what you are talking about when proposing to potential investors.

>> No.714653

>>714651
Not sure how that got so chopped up. Damn new fangled future phpnes , can't use them while drinking.

>> No.714677

>>714651
I actually have made a business plan already. I have plans all the way 15-20 years out. Divided up into different phases of the business.

>> No.714990

>>714677
Business plans that go that far out are just pipe dreams. What's important is focusing on the short to medium term, realistic expectations of break-even point, providing trust in terms of showing that you have a good team, reliable track record etc.

$300,000 for a business that is basically in the ideas phase is very high. What's the business concept? Is there no way that you can build a minimal business for less money / bootstrap it? It will be hard to find early-stage investors for that amount, unless you have a track record of success with similar businesses, you already have prospective clients lined up, or you have an amazing team.

>> No.715857

>>714601
Yeah. No ones going to give you $300 grand.