Page 45 - 597 Business Ideas You can Start from Home - doing what you LOVE! (Beginner Internet Marketing Series)

34 Your Idea, I n c.

pockets. Keep in mind that it is possible to build a business on a

shoestring budget. You will find that you need money in stages, but
it's important to get a sense of the total amount you'll need. To begin
getting your mind around how much money you'll need, list all the
things that will cost some money. (See Biz Brainstorm: List Initial
Expenses for Your Budget, on page 36.) Also, consider out-of-the­
box ways to follow your dream in phases-that option may reduce
costs. For example, if you have a product that is inexpensive to
produce and does not require a patent, you will probably not have
to go into deep debt just to sell from a sample or prototype. Many
people attend trade shows with only a few samples of their product.
This is a great way to avoid "scary" debt before getting feedback
from legitimate buyers in your industry.

The G ood News

Though you may feel that you're the only entrepreneur without mil­
lions of dollars in start-up capital (or even thousands of dollars), you
are not in a unique situation-quite the opposite, actually.

The good news about that situation? Business analysts have said
that it doesn't always matter how much money you start with. On

Inc. magazine's 2002 Top 500 list, amount of start-up capital was

not the leading predictor of success. Companies launched with less
than $1 ,000 were as likely to be profitable as those started with
more than $100,000. It's more important that a person have the
ability to manage, run, and grow a business.

Dealing with Debt

Unfortunately, for most of us, going into debt is part of the real­
ity of bringing a product to market. But try not to fear debt. Most
people are in debt at some point in their lives-from owning a car
or home or going to college. Here are some ways to come to terms
with your debt.