To Borrow or not to Borrow?
Whether you are just at the beginning stages of your new home career or you’ve had a decent amount of success growing your small business and are ready to catapult yourself to the next level, additional capital needs to be considered.
Starting with a larger investment might enable you to grow your business more agressively, but if you don’t happen to have deep pockets you can find ways to fund your business through other areas of value. It’s pretty simple really. You can’t afford to hire a web designer? Spend a few days scouring the internet for free YouTube tutorials and teach yourself how to do it for nothing. What you lack in funding you can make up with time.
The bottom line is you shouldn’t let a great business idea fall by the wayside because you lack capital. If you have a stellar idea, a viable business plan and a whole lot of passion, there are always options for finding a way to launch your business. So tighten up those belts and get ready to ask the right questions about how to get the money you need to get going.
How much do you need to have saved to be able to leave your corporate salary and begin working for yourself full time?
How much should you invest in your business?
How much of your return should you keep for yourself and how much should be invested back into the business?
Do you need an investor? How does that work?
How long should you wait for a return before changing your methods?
How do you create a budget for your business?
What are the basic start-up costs for a new home based business? (Licenses, trademark, website, patents, etc…)
Known as the “Financial Mom” Pam Otten will be answering these questions and more.
Pamela Otten, the Financial Mom, is the CEO of Pamela Otten LLC, a Registered Investment Advisor located in Wisconsin. Pam is a Financial Advisor who loves to help women understand the “mysteries” of the investment world. She firmly believes investing is not rocket science – women instinctively know the investing rules – and we still don’t follow them.
Pam will take you back to financial basics, help you become more confident in your financial future, and teach you how to tell your money where to go (in a very good way). She will talk about almost anything if you can give her a good story about how it relates to your finances!
Pam is an Endorsed Local Provider (ELP) of Investing for Dave Ramsey (www.daveramsey.com), and is a huge supporter of Dave’s Financial Peace University course, coordinating Financial Peace University 3 times already for her church.
Pam’s passive investment approach is based on Modern Portfolio Theory, which includes more than 50 years of academic research and Nobel prize-winning economics. She specializes in working with successful women business owners and entrepreneurs, and women in transition due to job change, death, or divorce.