Sahel Rafael Tamayo

Whether you like it or not, there will always come a time when you have to say goodbye to your business. But, how will you know if selling your business is the best decision? Here are some telltale signs that you have finally reached the point of no return.

There’s a Lucrative Opportunity Waiting for You

Selling a business can be the result of a positive cause. There are times when an exit strategy is required since there is already a lucrative offer lurking in the corner.  When the market gets frothy and there is a profitable opportunity thanks to the hype that surrounds your industry, you can decide to sell your business.

For instance, if you are running a budding innovative social media site that still find it hard to generate profit and a giant like Facebook knocks at your door, this is an offer that you should seriously consider. Here, a strong sense of humility and realism is required. If your company is not yet worth a billion dollars but you already received a multi-million offer, this is something you cannot just turn away.

Trends are Moving Against Your Business Model

When you notice an up and coming megatrend that can make your business marginal or irrelevant, it might be time to consider making an exit plan. It might seem obvious yet this is a bitter pill you need to swallow. Considering the existing technological trajectory that the society is currently moving along, all businesses are practically at risk. If you have a personal speed dating service, the existence of Tinder is a real threat. If you run a boutique hotel, your ears might perk up at the mention of Airbnb. You have to keep an eye out for such trends. While you can instantly recognize a change coming, chances are you have limited time to prepare for it.

The Business Has Already Outgrown Your Skill Set

There are times when, as the principal or founder, you feel that you are no longer an asset to the business as it starts to grow. It is another bitter truth you need to accept yet the best entrepreneurs are outright honest to themselves about this.

Many successful entrepreneurs are excellent salespeople. The moment a business goes beyond $5 or $10 million in yearly revenues, depending on your business model, it also needs leadership in various areas. It is best if you have a good vision of recognizing it during the lifecycle of the business together with the humility of accepting and doing something about it. However, you also have to take note that there are entrepreneurs who managed to learn and grow together with their business.

You’re No Longer Happy

The last, but definitely not the least sign that it’s time to sell your business is when you no longer find the enjoyment in running it. There are instances when this unhappiness results from personnel concerns. Compared to the problems when you were still a startup, the issues you are dealing with have become less challenging and fun. If you no longer enjoy it, there’s no more reason to hold onto it.

Kickstarter is a funding platform made for all creative projects. Everything from games, films, technology, design, and music to art, Kickstarter is actually full of imaginative, innovative, and ambitious ideas that are brought to life through the support of other people. Everything on this platform should be a project with clear goals like making a book, album or any kind of work of art. Projects will be completed and something would be produced by this. However, before you create your own Kickstarter account, you should read their rules first and you have to know some basics.

The Basics

• Generally, a project is a work with a clear goal that you would like to bring to life. Think films, books or albums.
• Funding goals are the amount of money that the creator has to complete their project.
• In Kickstarter, funding all or nothing. Nobody will be charged for the pledge to any project unless it reaches the funding goal. Through this, the creators will have the budget they’ve scoped out before they move forward.
• Creator is the team or person behind the project idea, working to bring this to life.
• The backers are the ones who pledge money to join the creators to bring projects to life.
• The rewards are the chance of the creators to share a project with their backer community. Usually, such are one-of-a-kind limited editions, experiences, and copies of a creative work that is being produced.

If you like to know more how Kickstarter works, try browsing and looking at several projects on the site.

How to Create Your Kickstarter Account?

A kickstarter account will help you with your campaign. However, make sure to set it up properly to avoid some problems in the long run.

To create a Kickstarter account, here are some of the steps you should follow:

1. Click the Start link.
2. You may play the introductory video to know how a Kickstarter account works.
3. After watching the introductory video, you may proceed to starting your project and verify if you meet the Kickstarter’s eligibility requirements, which are listed on the page. Once done, you will be required to set up your password and username or if you have your Kickstarter account, proceed to login.
4. You can also log in using your Facebook account. When setting up your campaign through the use of Facebook Connect, it will help you save some steps. You’d also be better off making your own unique account and login on Kickstarter. You’ll have the chance to link your campaign to your Facebook, so you could link it there if you prefer to use Facebook in promoting your campaign. After that, proceed to the page of guidelines.
5. Kickstarter will direct you to your own project dashboard that shows some steps to get your profile up and running. The guidelines section will provide you a quick access to Kickstarter guidelines anytime. The Preview option will let you see how your campaign would look to your targeted backers.

If you have told someone a decade ago that they can start a business with no money, you will probably be a laughingstock and might even be called crazy. But today, the advent of technology made it possible for new businesses to begin their operations with limited or no cash at all.

Here are some ways you can try to jumpstart your business even without any money at all:

Establish a Business Based on Your Existing Skills

Is there something you can do that others are willing to pay for? Can you speak Spanish, program computer, decorate and paint, or make clothes? Do you have a hobby that you can turn into a profitable business? If you think you have a skill that others don’t have or they need to invest money and time to learn it themselves, it will install give you an edge.

Use the Available Resources around You

You can work from your home or at the local library or café where there is a free WiFi. If you have a car, you can also offer a delivery service around your neighborhood. Do you have a well-equipped kitchen? You can provide events catering or make cakes.

Offer Your Buyers with What They Need Instead of What They Want

It must also be something they will understand right away and they will feel comfortable in purchasing with no need to think or consult someone else first. Umbrellas priced at a few bucks are much better compared to hot tubs that can cost them several thousand dollars.

Harness the Power of Free Technology for Business Promotion

You can create your own website for free with the use of online website builders. After that, engage in social networking which is an easy, free, and amazing way to promote your business with no need to spend even a single penny. Create your own page in Facebook, join LinkedIn, post photos of your products on Instagram, and sign up to Twitter.

Encourage Customers to Pay Upfront

You can also stick with half payment upfront and the rest to be paid later on to ensure that your costs are covered all the time. Late payments are among the biggest culprits behind business failure, which is why it is best to have a plan on how to get cash faster right from the start.

Hold on to Your Job if You Have One

Probably the best answer on how to start your business with no money is to just use your spare time for the business. Once it becomes successful, that is the only time to give up your regular job. This way, if your venture fails, you will not be jobless, and if the business does work out, it will be less risky for you to transition into becoming your own boss.

Gone are the days when a starting a business requires lots of upfront capital. Thanks to the modern day changes, you can  be a business owner even if your pockets might be cashless.

It is never easy to start your own business but it can be very manageable when you make the right decisions from the beginning of the process. Your business plan has all been laid out but you still don’t have the necessary funding to kickstart you plan. As much as possible, you want to avoid applying for loans from banks or other loaning entities since interest rates and collaterals can be very risky for the business venture. What can you do then to get the startup capital you need?

Whether you believe it or not, there are many creative ways to source funds for your new business and these include the following:

Venture Capital

Venture capital is a common form of business funding in which the company seeks funds from venture capital firms in exchange for their stake in the business. The venture capital firm will then be interested in the business and have a say in running the business with expected rewards and results.

Equity Raise

The equity raise it the traditional method of funding a business. It needs compliance with the federal securities laws as well as other formalities. This gives several shareholders a stake in the business and allows them to vote on the corporate matters.

Partners

Yet another common funding method for a business is through taking on the so-called co-venturers. This means that there will be partners who will be involved in the daily business operations. Aside from spreading the business workload, it also offers extra sources of financing.

Angel Investor

Angel investors are those who offer quick business funding for a small business, at the start of the business, or during the expansion of a business. In general, these investors know the business owner and they invest for personal reasons instead of business ones. A pure angel investor doesn’t really plan to be involved in daily operations although they might have a stake in the business.

Family and Friends

Traditionally, a lot of people receive funding for their business through raising money from family and friends. This form of business funding is not exempt from state and federal securities laws yet it can take on the form of loans as well as other kinds of contributions.

Personal Money

The use of your personal savings is no doubt among the most traditional ways to get a quick business funding. Depending on the specific type of business you are planning to venture, you might not really need a lot of cash to startup. Those who have substantial personal wealth can also choose to invest all or some of it to fund the business. Most businesses fund themselves with the help of a disciplined approach.

Non-equity Crowdfunding

This is also called alternative business funding since its existence is the result of the advent of the internet. It is a form of business funding done online where no equity stake is given to those who will fund your business. Businesses funding with this method usually trade items or other kinds of gifts in exchange for various business funding levels.