Blog Posts

How To Start A Business With No Money Is it possible to How To Get The Money You Need To Start Your Business? I get this question a lot. The answer to this question is yes,  but . . . It takes money to start a business. But it does not have to be your money. There are a couple of key things to keep in mind. First, regardless of whether you are starting with none of your own money, it is critical to determine how much money you will need to start your business successfully. Second, and this is the SECRET SAUCE, you will have to figure out what funding sources are available to you and STACK them to

Hofstadter’s Law and The Facts

Before getting into the details of how much it costs to start a business, I want to bring your attention to Hofstadter’s Law. Hofstadter’s Law states: “It always takes longer [and costs more] than you expect, even when you take into account Hofstadter’s Law.” From my experience, Hofstadter’s Law is absolutely true. 

As a business owner, if you come up short of the amount of cash it takes to start, the consequences can be very painful. This is why it is so important not to engage in wishful thinking (believing your own BS) and always deal in facts! 

Startup Business Loan: Overcoming the Challenges Introduction The biggest hurdle in obtaining a startup business loan is convincing lenders that your business, without an operating history, is worth the risk. Most banks want to see three to five years of proven operational success before they consider lending money. This requirement puts startups in a challenging position since they lack the very experience lenders rely on to assess risk. However, the good news is that you can still get a startup business loan—if you approach it strategically. Unlike businesses with an established history, your financing will likely involve “stacking” multiple funding sources to arrive at the amount you need. This means combining bank financing with other sources like vendor trade credit,

The Entrepreneurial Emotional Journey: Pushing Through The Valley Of Despair Starting a business is an exciting entrepreneurial journey. It’s filled with visions of success, freedom, and personal fulfillment. You might imagine becoming your own boss, achieving financial independence, and changing the world with your idea. For many startup entrepreneurs, the initial enthusiasm is electrifying. However, the path to success is not always easy. It’s a journey that follows a predictable emotional pattern—a curve that almost every entrepreneur experiences when starting something new. Understanding this curve can help you anticipate the emotional highs and lows so you can push through the tough times and achieve your goals. This curve is often referred to as the emotional journey of creating something great.

Mastering Your Startup’s Burn Rate: Why It Matters and How to Control It Introduction Understanding your business startup burn rate is critical for managing your company’s financial health and ensuring a sustainable path to growth. Burn rate represents the amount of cash a business spends each month before turning a profit, a crucial metric for any startup navigating the path to profitability. For early-stage companies, tracking the burn rate can help gauge how quickly funds are being used and how long the business can operate before requiring additional funding—this is known as the financial runway. In this post, we’ll explore the essentials of managing your startup’s burn rate, from calculating it to maintaining cash flow stability and recognizing when spending

Startup Business Loans for Bad Credit: How to Secure Funding and Launch Introduction: Financing Your Business, Even With Bad Credit For entrepreneurs with poor credit, securing financing to launch a business can be a challenging. But with the right strategy, it’s entirely achievable. With careful planning and informed decisions, you can find the funds needed to bring your vision to life. In this post, I’ll explore startup business loans for bad credit, alternative lenders, and creative funding solutions. With insights from my course, “How to Start and Finance a Business Even If You Don’t Have Any Money,” you can navigate the funding journey and make a compelling case for securing capital. Step 1: Accurately Calculate Startup Costs to Avoid Underestimation

Introduction Creating a business plan is crucial for any entrepreneur aiming to turn their vision into a successful, profitable business. If you’ve wondered how to write a business plan or felt unsure about the details to include, you’re not alone. A well-crafted business plan is more than paperwork—it’s a strategic roadmap guiding you through every phase, from launching to scaling. This guide breaks down essential elements, including a pro forma income statement, cash flow statement, and financial projections. With a solid plan, you can attract investors, secure loans, and stay on track toward profitability. Based on How to Start and Finance a Business Even If You Don’t Have Any Money, this post offers tips on market analysis, crafting a marketing

Introduction “Entrepreneurs are not ordinary, but most are not extraordinary either. Most people who can put in a day’s work without a boss telling them what to do can develop the mindset and skills to be a successful entrepreneur.” — Neil C. Saucier. Becoming an entrepreneur doesn’t require being extraordinary—it requires seeing an opportunity, setting a goal, and working toward it. Entrepreneurship is both exciting and challenging, but it’s also achievable for anyone willing to put in the effort. In this post, I’ll explore what it means to be an entrepreneur, the mindset you need, and the steps to start your journey. Whether you’re already considering starting a business or just curious, this will help you understand the process and

6 Lesson From A Self-Made Millionaire Every Aspiring Entrepreneur Needs To Know Background Throughout my journey as an entrepreneur, I have done what I call selective mentoring. It basically involves finding someone who is doing what you want to do and copying them. In some cases, it simply involves watching and learning from someone without them knowing they are mentoring you.In other cases, it’s where you ask them to be a business mentor. You would be surprised how many people you want to emulate are willing to help you. The only proviso is that the people you ask to mentor you are not going to stay with you if you are all talk. The key to getting the most out