Are you trying to start a business, but you think you don’t have enough capital yet? Here are some tips to get you started. This may be your first step to wealth.
Find Transfer of Ownership Opportunities
Find a business whose proprietor, for one reason or another, is in dire need to sell out the business. Possibly because of disinterest or inadequate management factors it isn’t earning revenues. An example of such situation is with an inherited family business wherein the heir is not capable of managing the company operation. When an opportunity arises, offer to pay the book value from aportion of the profits. The owner may consider this proposition instead of seeing the business completely go down the drain. Get a lawyer to write the transfer of ownership documents and the other terms of the agreement.
You should, of course, only consider a business with a good earning potential based on your ability and projected endeavors. Should you need to expand your business later, you may seek the aid of a financing source to help you with your funds.
Use Other People’s Money
How often, after learning of a business venture success story, have you told yourself, I wish I got into that. What stopped you? If lack of money was the primary problem, it should not have been. Most financially rich individuals acquired wealth by utilizing others’ money to finance their businessventure. Surprisingly, money is not impossible to acquire. For risky endeavors, venture capital companies are open to proposals with a viable revenue potential, even with its risk factor.
Make Money From Your Collections
With the online store trends now, it is easier to sell your items that have been lying around untouched for years. There are investors and collectors who are looking for items that they believe may multiply in monetary value in years to come. Some of the items that have risen in value through the years are treasures such as stamps, coins, old magazines and comic books, dolls and toys, baseball trading cards, rare books, art objects, sculptures, paintings, autographs, phonograph records, guns, antique furniture, etc. Be sure to check their current values and trends before finalizing. So, don t throw out everything your spouse, your mother, or grandmother considers trash. Your junk may just be someone else’s treasure.
You can be rich–if you really seek for wealth. You should take a positive step towards that goal. The earlier you start, the sooner you’ll be able to gain the financial rewards you desire for.
© 3/15/2011 Athena Goodlight on Factoidz