Bootstrap Financing Your Way to Business Success

Do you need to start or grow your business but have
little money? Before you look to banks and similar
sources of financing, why not bootstrap your way to
business success?

A bootstrap is a small loop of leather or other
material that is found on the top rear or sides of a
boot. The purpose of the bootstrap is to help you
pull your boot on.

In business, bootstrapping has come to mean helping
oneself without seeking outside help. It means using
your own resources to finance, promote, and develop
your business.

Here, then, are some ways of financing your own
business by using your own initiative and depending
less on outside bank financing.

  1. Operate a Home-Based Business

Operating your business from home could save you a
fortune. First of all, you eliminate the costs of
expensive commercial rent, commuting, et cetera.

As well, your business use of home expenses would be
deductible for income tax purposes. Since your home
is your base of operations, your travel and automotive
expenses from your home to clients would be deductible.

  1. Accept Credit Cards

Rather than financing receivables and assuming the risk
for bad debts, why not accept credit card payments?

For more information about accepting credit cards, visit:

  1. Drop Ship Products

Rather than financing and stocking inventory yourself,
consider drop shipping.

With drop shipping, when you make a sale you contact
the manufacturer or authorized distributor who ships
the product to the customer with your invoice and
shipping label. Advantages include no warehousing,
shipping, or inventory costs.

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