Step One to your own job: Dream big, plan bigger - Part II

Have you written your objectives? Good. Now that you have decided what area you will work on, I need to remind you that you will need to look at your resources to make things happen. Your plan needs to begin by allocating resources to your objective. Every country has different laws regarding how you can begin a small business, so you will need to look through the local regulations that you have to comply with. Once you do that, begin to look for the resources needed to implement your new creation.

How to fund your initiative

The first step to get funding is to analize your current financial situation.

1. Decide how much funding you need. Remember that your funding will come from different sources, but a part of it (big or small) will come from your own finances. 

2. Look at your savings. Are they enough to fund yourself? Probably not. But you will need to have some of your own money to start working, so you can either sell some goods that you own, or begin saving more to accomplish the amount you decide you need to begin creating your own job.

3. Once you know how much you can allocate from your own funds, take a look at other funding sources. There is what we call "angel capital", which is given to you by people who love you, who believe in you and who are willing to invest in your initiave when you reach out to them. This is the most important group of people in your life. Make sure you present your initiative to them in the right time, at the right place, and with the right approach. Prepare a good speech. Make them see that you are a dependable person who will not let them down.

4. Other possible funds can come from banks, or financial institutions that fund small businesses. Do your homework. Look around, ask, improve your message until you feel acquainted with the answers you will give to bank officers in charge of accepting your credit. 

Always have in mind that there is very little funding for new initiatives, so the best way to go is to start with your own funding, as small as it may be, and when you have at least six months in the market, go to the bank and show them you are doing well enough to pay a debt.

Do not stop working on your project, ever.

Remember that the one who endures, wins.

Love,

Jackie