Funding an Issue?
So you’ve had your “AHA” moment creating your idea that you want to make into a reality. Congratulations! You’ve researched the product and found yours is unique in all the world, and have even gotten up the courage to contact us for a consultation. We love your idea; the conversation is flowing…until the age old question comes up, “how are you going to be paying for this?” Funding is probably the biggest hurdle that we come across in the initial stages of development. We don’t give out money, unfortunately, but we do want to support great inventors in their endeavors. We have outlined a quick comprehensive guide in how to lead you towards a sustainable process financially.
Pay as you go program (Payment plans)
We don’t expect every person who calls in to have thousands of dollars upfront. Many times, we can break up the process into easy to digest payments that better suit your lifestyle. We recognize that your money and time is valuable, so we don’t want to strip you of your investments completely, if that’s not what you want to do. We work with each person individually on a personalized plan that best suits both parties.
Home Equity
Own a home? Taking out equity on your home is a great way to get that advancement to get your baby off the ground.
Things to sell
Have a boat that’s sitting in the garage that you haven’t used in years? Own an old bike that needs fixing? How about an old collection or memorabilia you’ve been meaning to clear out of that back room? Now’s the perfect opportunity to purge the stuff out of your life to make room for a new (and possibly lucrative) investment – you!
Private Investors
Take your idea to a private investor who believes in your idea. There are resources out there to pitch your ideas to, especially if they can get a percentage or cut of the sales.
Credit Cards
Obviously if used responsibly, credit cards are a great resource. You can pay them off as you go, with little interest, and some have a really high limit. Shop around to find the best deal.
Small business or personal loans
This is what banks are for. Getting a small personal loan or business loan could give you that extra boost you need to start your project.
Ask friends/family to lend or invest in you
When all else fails, family and friends are there for a reason. Tell them your idea, and your plans to repay (or thank) them for their support. If they believe in you as a person, they just might love your idea and work ethic that goes along with it! Give it a shot, what’s the worst that can happen? They say no?
Live in California, Florida, Georgia, Illinois, Michigan, New York, Ohio, Pennsylvania, or Texas?
There’s a website that connects entrepreneurs with potential investors available for those who live in one of the above states. To access the appropriate site for your state, type in (STATE)investmentnetwork.com/home
These are the ways that we suggest moving forward if you’re strapped for cash. Of course, there are other ways as well, just don’t go robbing banks….