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    1 Reply Latest reply on Feb 27, 2009 6:00 AM by snipperred

    Financing Home Based Business

    snipperred Scout
      Hi there,

      I've got some topics I'd be interested in discussing about financing home-based businesses specifically. One of the major mistakes small businesses make is not asking for enough financing. Certainly, this should involve market research and other business planning. Probably the next big error is not managing what money you get effectively! Anyways, the thought crossed my mind that a lot of home-based business startups don't even consider financing. The great appeal is you can start a business from home with not much more overhead than what you use to live. However, if you opened yourself up to funding, what would you do with it? What should you be thinking about as you develop your financial plan?

      I know there's plenty of content out there. I think general discussion of topics you know of or see out there would make for a great study group. You see a lot of finance requests in this community. A common story is their personal credit is dried up. Just for sake of discussion, let's look at what someone could do with a $20K credit card or so to develop an effective business and finance model that would open the doors of banks or private investors to get much more...and therefore really take your idea and create a substantial business from it. If you want some food for thought, I noticed a new finance planning workbook being promoted on Facebook's Visa Small Business Network. Pretty sure I saw BOA's Small Business Online Community promoted in that area not too long ago too.