Where do you come up with the funds for initial expenses?? Do you get a bank loan? Use your own money? Use a CC? Whats the best way to start out moneywise?

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~Missy~Mommy
Meghan9.Samantha8,Cameron6

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We shoe-stringed it. Actually we're still shoe-stringing it. There are a few things that we need to buy (a bigger car) but, when the time, comes, I will be able to rent one for a couple of weeks and then we will just buy one. That is probably our biggest expense and, after my first and only car loan, I have promised myself to NEVER make that mistake again.

I'm actually looking at another business endeavor. For that one ... I'm going to have a yard sale and take the profits from that and apply it to my next idea.

When I started it only cost me $99 plus tax and shipping. PLus I did needed to buy a few other supplies, pens, paper, stamps.. basic office stuff.

So in total it was maybe $200, I used my debt card. And made my money back right away..

I think if you starting your own business using a CC is not a good idea, it it cost more than you can afford. Taking out a loan?? Depending on the business. If you know that the payments can be made quickly without hurting you and your family. I would do that.

I know of a couple, several years ago, that started their movie renting business (this was before Netflex) and they put the entire thing on their credit cards. Ouch! Of course the woman started not ordering movies that she thought were ethically poor choices too -- naturally those were the top selling movies.

They were in business probably about six months.

An inheritance got the "family business" started. I'm sure Grandpa would have been thrilled with the good use his money went to! It was enough to buy the computers & office equipment we needed, and to give a slush fund for that difficult first year of little profit.

My business required buying a piano, that's it. I've gone on to buy additional pianos, got loans, it would be the same starting up. I planned to have my own studio all along, and business use of the home rocks.

I would never use a credit card. Dh and I are going to be buying an embroidery business in two years and we are saving like crazy so we can pay cash for it. We may need a small loan from our bank, but the majority of the funds will be cash.

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When I want your opinion I'll remove the duct tape.......K?