How You Can Turn Your Business Idea Into Millions
Crowdfunding is hugely popular today for getting your business off the ground. The only problem is that people on sties like CircleUp or AngelsList have to have a net worth of greater than $1 million or earn more than $200K a year. If you have an idea like Icelandic Yogurt and the expertise to grow the business the sky is the limit. Crowdfunding is only one of the popular ways to raise money to start your business idea.
Successful entrepreneurs often turn to friends and family for start-up funds, but these days those friends and family can include millions of people who chip in via Kickstarter and other crowdfunding sites. Crowdfunding success is also a good way to attract attention from private equity investors, who have their own crowdfunding Web sites and even their own TV show, Shark Tank. Entrepreneurs who want to scale up their businesses also have plenty of options for borrowing, and many boomers looking to work for themselves tap their own home equity or retirement savings.
Three other ways are to borrow from your family, use Kickstarter (which is open to everyone unlike CircleUp), or get a loan. There are many types of loans that you can get. If you are veteran you can acquire special rates or if you qualify for a small business loan from you state you could earn some attractive rates. You just have to search around on the internet for the best deal.
Decide which 4 ideas are best to launch your million dollar idea.
About Shaun Archer Tatum Shaun works in corporate finance in New York City. He has done financial consulting for several start-ups and has worked at several Fortune 500 companies. He has contributed several finance/investing articles on Seeking Alpha which have been published on Yahoo! Finance.