Raising Start Up Capital For Your Small Business

You have your business idea, your business plan in tow, your ducks in a row, and you're ready to get your business off the ground except for one problem - you have no start up capital. Unless you were born into wealth and have it at your disposal, then you are like most small businesses and need a helping hand.

How can you raise start up capital? There are a few ways to go about it:
Small Business Bank LoansMany financial institutions provide some type of small business loan program. In order to get funding from a bank for your small business, you will need a solid business plan. You'll have to prove that your business will generate enough cash to make the loan payments. Each bank's requirements are different but if you are able to articulate how you will succeed, have decent credit, and possibly a co-signer, you may be able to secure a small business bank loan.

SBA (Small Business Administration)The SBA is a great resource that provides information on requirements, credit factors, how to apply for loans, etc. The web site is a good starting point before attempting to apply at a bank. The better prepared you are, the easier it will be when you begin the application process.

Family & FriendsA lot of small businesses raise start up capital this way. Family and friends usually want you to succeed and believe in your business. It is wise to treat these relationships as real business relationships. Plan how you will repay their loans, the time frame, and at what interest rate.

Angel Investors & Venture Capital FirmsPrivate angel investors and venture capital firms work primarily in the same way. They invest in the equity of your business and expect a return in the form of an acquisition, IPO, or stock buy back in the future.

The key to any of the above methods is to have a well written business plan. A good business plan will prove that you are serious about your business and that you can demonstrate the way you plan on making it successful.
Eartha Haines is the author for http://www.selfemployedblog.com. Self Employed Blog is a web site which shares ideas, services, products, and opportunities that may help others move closer to their dream of becoming their own boss.

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Top 7 Tips for the Small Business Who Is Looking to Hire a Marketing Firm

Marketing is what 99% of businesses fail to do correctly. Many small business owners recognize this deficiency and hire marketing firm. Yet, the results are not what are promised after these small business owners have spent their limited resources of time, money and energy. From my experiences as a business coach to help my clients with their process improvement plans to their strategic plans, I have identified these 7 marketing tips to help any business increase sales.

What are the clients' results from their marketing solutions?

The first question you should ask: “What are the results that your marketing firm has delivered to your clients within my industry? All marketing efforts should be directly tied to specific results and measured on a regular basis. If the marketing firm cannot answer this question, quickly and positively, then you may be talking with the wrong marketing firm.

Talk to at least 2 to 5 of the potential marketing firm’s clients

By talking to existing or past clients will help you determine if this marketing firm is the right fit for you. This is much like asking and checking references on a potential employee.

Determine if you want branding, name recognition or actual clients

Before you meet with the firm, you need to determine if you want name recognition, name branding or actual clients. Each of these determinations will deliver a different marketing strategy. For example, name recognition can be delivered by television, radio, print or billboard advertising. Name branding may require more expenditures using this media or from other marketing strategies such as article writing or speaking. Actual clients is really want you want and may involve trade shows where you have greater access to potential clients.

Set a time frame for the marketing firm's performance

Establish a time frame for the marketing campaign. A marketing campaign is very similar to a goal. All goals should include a target date or time frame as should your marketing.

Measure all results of the marketing firm's efforts

Marketing needs to deliver results. Let me repeat this: These results which should have already been identified can be increased marketing awareness through surveys to actual increase in number of incoming phone calls, Internet visitors, etc

Ask about the percentage of direct mail versus television, print, or other media?

Marketing employs various delivery vehicle. Television, radio, print and billboard deliver impressions. Direct marketing focuses on ctual contacts. Marketing research still supports that direct mail is the most successful form as it secures the most consistent measurable outcomes. For example, 1000 piece direct professional mail campaign will deliver 1% to 2% rate.

Look for a call to action in current marketing samples

The existing marketing samples should show a call to action. Many marketing firms fail to include this simple action that will generate you more sales.
After working with numerous small business clients, I have personally witnessed a lot of poor marketing campaigns being delivered with very expensive price tags. Taking the time to review these marketing tips in your selection of a marketing firm should truly help you increase sales by uniting your marketing plan to your sales plan.
Are you where you want to be? Are you experiencing repetitive marketing challenges? If you could overcome those challenges, what would that mean to your bottom line, your daily productivity or sense of personal achievement?
Leanne Hoagland-Smith, M.S., an Indianapolis business coach and Chicago business coach, helps individuals just like you to turn these challenges into measurable outcomes using results driven executable strategic plans for sustainable transformational change

Then, take a risk and call 219.508.2859 for a FREE telephone consultation.
Visit http://www.processspecialist.com/ and explore everything from free articles to learning the "Secret of Success."
P.S. Looking for a motivational speaker for a keynote or full day workshop? Give Leanne a call at 219.508.2859 to schedule for that important event.

Free Grant Money

Every year, Congress allocates billions of dollars in the form of free grant money to aid major projects that would ultimately benefit communities. Allotment for education grants alone reached an estimated $67 billion annually.

Free grant money can be availed of from various government agencies. But this free grant money does not come without a price tag. This may sound ironic but free grant money is not exactly for free in the truest sense of the word. With free grant money come obligations, responsibilities and consequences. These are legally binding too because the use of free grant money entails use of public funds which must be properly accounted for. Free grant money is actually your compensation for accomplishing certain obligations. Free grant money is something you have to work for to attain. Free grant money does not just fall on your lap with a minimum effort. In short, free grant money does NOT come for free.

There are various resources to be able to acquire free grant money from the government. President George Bush recently launched GovBenefits.com website which contains information on where can avail of free grant money. GovBenefits.com can give you valuable info the free grant money to avail.

If you are an entrepreneur and would like to open a new business or improve an existing one, the government has free grant money program for you too. Economic development agencies that extend free grant money exist in the different states. Free grant money information can be found in Kansas, Nebraska, New Hampshire, New Mexico and Utah websites. The rest of the states do not have free small business grants but do offer financing and technical training services to individuals who want to go into small business through the U.S. government’s Small Business Administration (SBA) program.

The Catalog of Federal Domestic Assistance (CFDA) also offers info on how to avail of free grant money. Their website http://www.cfda.gov/ gives valuable info on how to avail of free grant money from the Congress’ approved funds. But CFDA is useful only to people who have insight into the grant application processes. Otherwise, it would be hard for you to understand the CFDA entries on each program. And you’re grant application might be rejected because of that.
For students, free grant money information could also be found on Free Application for Federal Student Aid (FAFSA) website http://www.fafsa.ed.gov/. The FAFSA is a seven-step guide that inquires about your personal details, financial status, school plans and many others. In 2002 alone, 6 million students have availed of free grant money through the FAFSA.

Free grant money under the discretionary programs by the government such as those listed in CFDA requires going through a lengthy often grueling process. A formal application must be prepared and submitted. After that the concerned agency will consider and approve or disapprove the application. Then the implementation will be subjected to a lot of further requirements like accounting, disclosure and auditing of expenses to the last cent.

organizations would even hire full-time staffs just to take care of the application and implementation processes. “Grantsmanship” is the term used to refer to the art and science of applying for grants. The government can be pretty meticulous on how it spends its money. The Grantsmanship to apply for free grant money takes a lot skills indeed!

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Establishing Good Personal Credit

When your credit is good, you will have no difficulties applying for loans or credit cards. In some instances, the personal credit history of a person is scrutinized when applying for jobs too. Basically, being financially desirable is certainly an advantage. Companies and lending institutions will be the one clamoring to have you as a client and you can avail of certain privileges that come from be having a sound financial life. There are many ways you can easily establish good personal credit. Simply follow the following advices.

Pay on Time

Whether you are paying credit card bills, car loans or mortgages, you should make sure that you pay on time. Aside from incurring additional charges such as late payment fees and other penalties, you are at risk of losing personal credit points each time you miss a single payment. For housing loans, lenders immediately provide the Credit Bureau with a negative report even just after one missed payment. At the beginning of each month, set aside the money for your personal credit obligations.

Limit the Number of Credit Cards

Many people do not realize that having a lot of credit card, which they could not even pay, reflects poor spending habits and lack of financial management skills. On the average, an American is said to own at least seven kinds of credit cards. Do not make your personal credit life complicated with so many credit cards to manage. Have a maximum of three personal credit cards that you can easily manage. It is also good for your personal credit to use these cards once in a while. Good credit card activity will gain you points and increase your credit score.

Prioritize

The most common mistakes that people make with regard to managing their finances and personal credit is not learning how to prioritize. Bills and other payments for credit obligations always come first and luxuries come last. If you are having problems with keeping track of your finances and personal credit, lean to list down things. You can even use your personal computer for convenience. There are software programs that could help you manage your finances with just a few clicks. Always separate items that you do not need and if you come into some extra money, then it is the only time when you can buy these things.
Taking care of your personal credit is very important as it is the only way you can enjoy financial freedom. Although it looks a lot of sacrifice and discipline, you will certainly avoid a life filled with letters and calls from your creditors.
On the other hand, not seriously thinking of the state of your personal credit history and continually spending like there is no tomorrow, then you might yourself losing everything you have such as your home, cars and other personal assets in order to pay off all your creditors. Sadly, you will even suffer from the embarrassment of being denied everytime you apply for something that requires a good personal credit score.

To get boatloads of unique credit tips and unusual resources such as Credit Tip Videos, Credit Dispute Software, E-Books, Articles, Blog, Etc. to help dramatically improve your credit report and raise your credit scores up to 250+ points please go to: http://www.CrediTips.com/blog/index.php

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