Business Q&A: I want to start my own business, any tips?
Question by Miss Ella: I want to start my own business, any tips?
I have been working on a business plan for the past few years and I’m finally getting close to having the perfect plan to open my own clothing store, and I know it will be huge in my city because there’s nothing like it and it also benefits the art community as well.
Here’s the catch. I have no real savings to put in it, and don’t want to take out a loan. Where can I find the right investors, and how do you pitch your business plan to them so they see the greatness of your idea?
ANY suggestions would be helpful.
Best answer:
Answer by lynnbodoni
Investors won’t invest unless you put in a substantial amount of your own money, so that you will have an incentive to do your best to make the business work.
Neither will banks. You’re going to need to be able to put in a lot of your own money into any business venture, or take out a large personal loan secured by your own assets.
Know better? Leave your own answer in the comments!
