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4 Great Ways to Finance Your New Business Venture

1 44 4
11.08.2021

While in college, I wanted to start a book-publishing company representing historically underrepresented populations within the publishing industry. At the time, I thought bank loans or coming from a wealthy family were the only two ways to finance a business venture. As a student saddled with debt and nonexistent credit history, I walked into the bank to apply for a loan. I was laughed out of the bank.

I researched other financing options and decided my best option was to bootstrap my dream publishing company. I found free resources on the internet: blogs and articles that estimated the cost of starting a new business, financial-planning resources to help me create a budget to obtain that money and lists of side hustles for college students. Since high school, I had been a freelance copywriter, so I continued freelancing to save for my dream business.

I pushed myself into a state of near-burnout: working over 60 hours per week while maintaining high marks in graduate school and planning my future business. I was doing the work of five people and working for more clients than I could independently manage and retain the high-quality copywriting and editing services upon which I pride myself.

Relevant: How I Transitioned From a Solo Entrepreneur to a Team Leader

I recognized my freelance work could become its own business, but lacked the capital to make it one.........

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