Investing in your businesses can be a daunting idea–especially in the early stages and ESPECIALLY for folx who are identities that have been historically excluded and undercapitalized.
Here’s the good news, it’s not impossible.
Please do what *best* suits you and your budget. There will be opportunities for you to join programs during another cycle in the future. This is not your only/last chance.
Sometimes a program or service or group is the absolute right thing at the wrong time. That’s ok, trust yourself and honor your financial boundaries.
I’ve gathered up 9 Creative Ways to Seek Funding for Business Development Services (all of which I have tried or used at some point in my entrepreneurial journey).
💸Look for or ask about a payment plan
💸Apply for PayPal credit to cover the cost
💸Apply for/use business credit card or line of credit associated with your EIN (separate from personal credit)
💸Check if there are money mindset blocks getting in your way and work through them with a coach
💸Brainstorm ways you could bring in extra money to cover the cost
💸Some businesses offer services like WizeBank, FundMyContract, or other financing services
💸Check your eligibility for a Personal or Business Loan
💸Do a crowd-funding campaign
💸Apply for business grants
As they say, “It takes money to make money,” and starting, sustaining, and scaling your business all require financial investments.
Sure, there are a lot of learning tools available for free online. And also, some of the most valuable assets that you can invest in are the relationships with coaches, mentors, and colleagues who you can turn to for support, accountability, and training.
The key truth to remember is that when you are making wise investments in your business, there is a rich return on your investment.
- When you invest in hiring staff, the work they do will 1) free you up to stay in your zone of genius and 2) should bring in more revenue because they are working on marketing, lead generation, and outreach systems
- When you invest in software that helps you collect and track lead data that will help you turn those leads into clients, you don’t lose anyone slipping through the cracks
- When you invest in a business coach, you are getting premium access to someone with the training, knowledge and experience to guide you in the next right steps of your business
- When you invest in a mindset coach, you have a guide to help you move through the bullying beliefs that stand in your way of thriving
- When you invest in a money coach, you have an expert in your corner guiding you as you price your products and services, as you allocate reveneue, and as you increase your profits
- When you invest in a business attorney or a set of contracts created by a business attorney that protect your business, your Intellectual Property, and your money, you won’t lose money to unnecessary refunds, or stolen IP
- When you invest in an Accountant and/or Bookkeeper, you will have financial experts who know how to keep your business on track with taxes, and to keep you in the know about everything that is going on with your profits, losses, and flows
Just to be clear, you don’t necessarily need to invest in all of these all at once. Certain investments are valuable at different times in your business building process. And the best news is that sometimes, you can find a 3-in-1 deal like me, who is a mindset, business, and money coach all in one amazing, neurodivergent package!
What comes up for you as you read this blog?
If you’re finding scarcity scars and money mindset issues surfacing and getting in the way of your expansive dreams, let’s talk about it–I’d love to coach you through them into financial liberation!
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