| Sell Some Assets
This is a classic form of bootstrapping, whereby you dispose of something of value to raise cash for something else - in this case your new small or home business.
It can be easy to do these days, and can (and should) be one of the first places you look to get you that initial capital (or perhaps more than that) needed to get your business up and running.
Most of us have assets in one form or another that have some value, and that could be used in this regard.
You may have some that spring instantly to mind, but here is a short list, which is by no means all-inclusive:
- Stocks, Bonds, CDs or other financial instruments
- Cash value of your life insurance policy
- Cars, trucks, motorcycles, RVs
- Boats, planes
- Timeshares
- Livestock (Don't laugh; I've done this)
- Collectibles
- Computer systems
- Heavy equipment
- Furniture
- Jewelry
- Season tickets
- Musical instruments
The list could go on, but you get the idea. Instead of having that particular asset taking up space in the garage you could move it on and raise some interest-free capital to help you in your startup.
Some of the ways you could liquidate these assets include using sites like Craigslist and Backpage. These online classified ad sites will get you the most eyeballs on your offers by far, and you'll likely get some replies almost instantly.
Do not ignore other avenues, such as your local paper, either; especially if the items need to be sold locally, like vehicles and heavy equipment.
Using your existing assets to help gather funds for your home business startup is both a smart thing to do, and will help clean out the garage! What a concept!
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Financing Alternatives For Your Small Business
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