7 Creative Ways to Fund Your Startup

One of the biggest reasons people hesitate to start their own business is due to a lack of finances. Sometimes you need capital in order to get your idea off the ground, but most banks and traditional lenders will only fund moneycompanies that are already in existence and have proof they’re profitable or those with solid marketing plan or business plan. However, if you have dreams of entrepreneurship, you don’t have to let finances get in the way of building your dream. Check out these seven creative ways to fund your startup and reap the benefits of entrepreneurship without any hesitation.

  1. Sell your belongings.

Chances are you have a few items throughout your home you don’t use, as these items can generate a decent amount of money for you to put toward your business. For instance, you can use online sales sites to purge items like clothes, household goods, and furniture. You can also put an old car up for sale or even sell a junk car at a local junk yard to get some good cash. Just be sure whatever you sell, you put this money toward your startup, so you can get your business off the ground.

  1. Rent your home.

Many travelers today are looking for cheaper ways to see new places and renting a home or a room in a home is a great way for you to give these people what they want and earn some extra cash. Check out sites like Airbnb to see what you need to qualify as a renter, and then put your home or your room up for rent. This will generate a decent amount of income if you live in a well-traveled city. You can then use this money to fund your business.

  1. Refurbish items.

Opting to refurbish items or upsell items can help you earn some extra cash. For instance, if you found a great dining set for $5 at a local garage sale, take great pictures and sell this dining set for $50 online. You’ve just made yourself $45 for doing absolutely nothing, and you can put that money toward your newfound company.

  1. Sell your skills.

Everyone has a skill or two that allows you to provide a service. If you’re good with a computer, with crafting, or with animals or kids, consider selling your services for a profit you put toward your business. Maybe you can freelance write, graphic design, or photograph to earn some extra money. Maybe you can babysit or dog walk. There are a lot of options out there to help you get more money you can use for your business.

  1. Consider crowdfunding.

Even if you can’t get a traditional loan from a traditional lender, you can always reach out to those who want to back your company or product. Using crowdfunding sites like GoFundMe allows you to generate income from investors by offering them something in return, such as your product, a percentage of the company, or whatever else you feel is necessary and enticing. You may just find that you earn way more you were asking for initially because people want to see you succeed, and you don’t even need good credit or a reputable business to do this.

  1. Do odd jobs.

Thanks to the internet, there are a lot of companies out there willing to pay you for doing odd jobs, whether from the comfort of your home or through your neighborhood. For instance, Field Agent will pay you for doing small tasks around your town, such as taking pictures at a local store or checking prices. Rent a Friend allows you to make up to $50 just for hanging out with someone around town, and Eat With allows you to host dinner at your home and get paid for it. There are so many of these experiences, and while the starting pay may be small, it can add up over time. Plus, when you factor in how little and easy the jobs are, you can generate a decent income for only an hour of your time every day.

  1. Use a round up app.

There are different apps out there that allow you to round up your purchases and put that extra money into a separate account. This way, you can save money by making your regular purchases, and you’ll be able to use this money to invest in your dream.

If you want to save money for a company, any of these ways will allow you to do that. Plus, it lets you start your business with your own hard work without having to pay back someone else for a loan.

About Nate Goodman

Nathan Goodman is a freelance fiction writer and the bestselling author of The Special Agent Jana Baker Spy-Thriller Series. "A terrorist on the loose, a country in panic, and time is running out..." For a free copy visit the author's website.