Business Information for Entrepreneurs by an Entrepreneur

One of the most daunting tasks a prospective business owner faces is finding the funds to actually get started. I faced the same problems as all of you, and here's a short list of what helped me in my quest for the cash.

SBA- Source for a Business Loan

A great resource for financial help to start your own business, is the Small Business Association, or the SBA. This government organization provides loans for various business purposes. If you go to the website of the SBA (http://www.sba.gov), you can get a lot of information about the availability of loans.

Bank Loans

Another institution to approach for funds to start a new business would be a bank. You should make inquiries and visit different banks and identify one that is prepared to finance your proposal on terms that are viable. A great place to start is the bank where you have your personal account, because you already have a relationship with them. If you are able to secure a bank loan, you must be prepared and committed to making timely repayments.

Find an Angel Investor to Help You

Another option to generate funds would be to find an angel investor. Angel investors are individuals who intend to invest their money in a business run by others, for financial returns. However, you should be aware that the investors are in fact, part owners. They may be able to compel you to make changes in your business that you may not consider wise or profitable.

Easy Help

Your near and dear ones are always your immediate support and are easily approachable. Your family and friends can become a source of funds for your business, since they are aware of your capabilities and sincerity about the potential business. Before you decide to use this option, be aware that many friendships are often lost over the issue of money, so be sure that you approach this in the same way that you would any other loan.

There are many ways to secure money for your business venture. The decision to approach the SBA, a bank, an angel investor, your family or friends is dependent ultimately on your assessment of your needs and the ability of the business to repay.

If you have a home-based business like I do, your biggest job is probably promoting it — without spending a small fortune. Fortunately, it can be done, and here are my favorite 3 ways to do it!

Through a press release: - To make people come running to you, one way that is cost effective is by writing a press release. Most people, even if they do realize that this is a good way, are unable to take advantage of this because they do not know how to go about it. Press releases are written in a particular format. You can get an idea about how to write one from the Internet. You'll be able to find information on proper format and distribution channels. Fortunately, writing a press release is fairly easy and there are a number of services that can do the writing and distribution for you for a small fee.

Create a website: - Even if you do not know how to create a website, there are many websites that give you free step-by-step instructions on how to set up a website. You should be able to do it yourself if you possess basic computer skills.

Write a newsletter: - A newsletter is an excellent marketing tool and will allow you to promote your new home-based business and increase your profits. The newsletter should contain the details of the services and what they are going to cost the customer. It should include your personal details as well. Keep updating the newsletter with advertisements for savings, new product or services offered and offering some sort of a discount, say a coupon for a 10 percent discount.

There are many ways to promote your home-based business. Using the 3 outlined above is a good (and free!) start.

OK, so we all probably know that having a website is a great way to have customers find your business. But how will customers find your website? This is where web marketing comes in, and whether its online or offline marketing, or you're selling apples or zinfandel, the process if pretty much the same!

Marketing your website online

One of the best ways to popularize your website is to register it with the various search engines available on the Internet. Scout for organizations similar to yours on the web, in order to see which site links to them. You can send an email to the webmaster of the websites you think should also link to your organization. Make sure that you mention your URL address whenever you send e-mail to someone. Announce your website on Internet newsgroups and lists that relate to your organization. Participate in discussion groups online and build the reputation of your website as a valuable resource. Whenever you update your website, send out email newsletters to promote it.

Marketing your website offline

Along with your organization's phone number and address, mention your website address in printed publications. If you launch your site or make any major changes to it, send out printed newsletters informing people about it. Add your website address to your voice mail message, press releases and every item given to the public through your organization. Do not forget to refer to your site address when talking to the press.

Marketing your website will make it easier for customers all over the world to find your business, something that I found next to impossible with traditional advertising. So don't be intimidated by the 'Net' — use it to your advantage.