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Where to get Money to Finance your Business


This article is motivated by one of my female readers who text me that she want to start a business but don’t know what to do and don’t have money.
The first step involved in starting a business is your desire to start, which is the fuel of success. Desire when natured can become an instrument of achievement.
Secondly, believe that what you desire will surely come to be. It may not be within one year or two not even three but as far as you are alive, it will be fulfilled.
Thirdly, identify the kind of business you want to start and why (your purpose). You have to know the purpose why you are going into business. Is it financial gains, to be your boss or what?
The next thing is, you have to love what you are doing. Don’t just go into a business because your friends want you to or you see people rushing into it. If you don’t love what you do, the business will become a burden to you.
Have the knowledge of how the business is run or operated.  Many people make the mistake of rushing into a business without having the knowledge of how the business is operated.  Just because they see Mr. A making it, they dabble into it without knowing the secret.
Imagine somebody setting up a business centre without even knowing how to put on a computer.  How will you monitor your staffs? Whatever they tell you is what you will believe, because you don’t know.
The fourth thing is carried out a feasibility report to know how much you will need to start and whether the business you are starting is viable.
A Feasibility Report gives you a clear picture of what your business would looks like in terms of financial requirements, cost of equipment, running expenses, repayment schedule (if you are going to borrow), sources of income etc.
Now to the main thing, to get money to finance your business, you must be saving at least 20% of your salary every month to form your business capital.  And if you are not working, the alternative will be the other ways I am going to suggest in this article.
Another way to get money to finance your business is to get an idea of the business you want to start then, how much is required to start-up, how to run it, then, call some of your friends to contribute money together to form a joint partnership. Be sure to write a partnership agreement that is mutually agreed by all of you (partners) on how the business should be run, and how profit and loss should be shared. Signed and each of you should keep a copy in case of any dispute.
Prepare a feasibility report, with that, approach any of your rich relative, show him/her the report and explain it to him in vivid terms how you will run the business and make profit and ask him to invest in the business or borrow you the money for a period of time.
With your feasibility report, approach your bank and give a presentation of your idea and seek for a loan from the bank.  If your idea and presentation is satisfactory, the bank will invest in your business by giving you a loan. The banks also are looking for ways of making money, so if you have a very good business idea that has a short turnover, the bank can take the risk - no doubt!
Our people say “you have something to help you in time of need”. So, if you have anything valuable that you can sale to raise your business capital, do it. When you succeed in business, you can buy ten of what you sold. There is no need having a fridge in the house when you need small money to start a business that will make you a millionaire tomorrow. Success is not easy to achieve. If you are not willing to sacrifice, then stop day dreaming, because you will never achieve anything worthwhile in life.
For you to succeed, you must take risk – sacrifice! For you to get to your promise land, you must pass through the wilderness. Even Jesus Christ, immediately after His baptism, He was taken to the wilderness to be tempted for forty days and night. His victory over the temptation is what has established His name forever. So if you think, you can get to your promise land without passing through the wilderness then, you are in for a big disappointment.

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