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    4 Replies Latest reply on Nov 3, 2008 3:16 PM by tqcouch

    How hard is it really to get funding for a small business

    bz12008 Newbie
      I would like to establish a sales training/school/staffing for new real estate licensees. I believe that a fully trained licensee ( I mean fully trained) can help the real estate market...
      a 30-day serious training for new licensees and then offer them to exisiting real estate companies.
      The only thing I need is to establish an office, equipment, furniture and marketing materials.

       

      How can I get funding. My credit is not good but my company is in existence for 4 years already.

      start up $50,000.
        • Re: How hard is it really to get funding for a small business
          GrowthCurve Adventurer

          I have a few comments here. You're not going to like them.

          First, I don't know that this is the best time to start a business that caters to the needs of new real estate licensees. The non-renewal rate for existing licensees is pretty high right now, meaning people are leaving the business, not getting into it. I mean, you have to be a special glutton for punishment to decide now, of all times, to get into real estate sales.

           


          Also, don't most real estate companies already offer this kind of training to their new licensees?

           


          Second, I think your start-up costs for this business are way out of line. $50,000 to start this business? No way. You're getting sucked into the same vortex of doom that most small businesses get into. You don't need all of the trappings of a "real" business at this startup stage. Office? Forget it! Equipment? Like what? Furniture? You don't need an office, why do you need furniture? Marketing materials? You obviously already have a computer -- get a good-quality color printer, and you can make your own marketing materials.

          You can and need to bootstrap this business from next to nothing, and prove that there's a market for it. You can make one or two sales to your prospects while bootstrapping, and then -- and only then -- should you consider what you'll need to grow. And you know what? If you already have clients and sales and all that...you'll find the whole thing a lot easier.

          And just out of curiosity...what is this business that's existed for four years? And what's going on with that business such that your personal credit is not so good?

          I know this all sounds pretty harsh, but I think you need some tough love.

          And I'm not saying this is you, but I think there are people out there that create all these roadblocks for themselves when talking about starting a business..."Oh, if only I could get my hands on $50,000..." when they know full well that is just never going to happen. They get to dream about their business and "what it would be like," only they don't ever have to really get in the game and take a chance because there's some roadblock that -- woe is them! -- keeps them from getting ahead.

          More tough love...please take it in the spirit intended, which is to motivate you to remove these roadblocks and start making things happen!
            • Re: How hard is it really to get funding for a small business
              bz12008 Newbie
              Hello, I'm not really surprised with the answer. Yes you're absolutely correct. A lot left (well only until the market comes back again) and these are the people who came into this business for the wrong reason.
              this is why I want to do this. You'll be surprised but there is business out there and the ones that are making it are the ones that have been consistent and have been in the business for a while.

              I just took my broker's exam a week ago and I was surprised of the turn out. The room was completely filled with examinees.

              Let me tell you, all real estate companies will say that they have training. but you know, it just isn't enough. A new licensee, even in a good market, would normally make the first sale after 6 months or sometimes a year because inspite of all the training, they still don't get it.
              I've been there done that. I just got lucky because I've been in sales 18 years prior to being a realtor.
              They don't have the time to really train these agents.

              Realtors have this image of having big ego and small character. They don't know that being a realtor is being a salesman. Many, many, many people in this business have no sales skills.

              I will make arrangements to start my first seminar for new licensees. If you're in los angeles, please do come and you'll know what I mean.

              Thanks for reading my post.
            • Re: How hard is it really to get funding for a small business
              retiredebt Newbie
              There are many online business which doesn't require much money for investment but it only require some time of yours. You can earn good profit from it without taking much risk. So why don't you try such businesses.

              Retirement Savings, Retirement Investments,Home Based Business,Internet Marketing