I recently started a small media company with the focus of selling adds space on my online channel. I have already spent my initial start up from my family members. How do I go about securing the rest of the capital for more equipment I require?
Hello:
Sounds like you have some pieces in place, which is good. To get the rest secured, consider the following:
* Develop a financing plan that encompasses how the money you raise will drive your business' growth as well as how much you need - it sounds like your initial approach fell a bit short.
* Explore borrowing options through community banks, credit unions, microlenders or other places that help earlier stage businesses and usually offer lower interest rates than credit cards.
* On the investment side, really think through your needs - weigh buying vs. leasing and new vs. used, in addition to prioritizing your equipment from must-have to nice-to-have.
If you wish to discuss, send me a PM through Clarity for 15 free minutes.
Cheers,
Kerby
Answered 5 years ago
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