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Trying to Raise Money Without Loaning

    • 23 posts
    November 4, 2006 1:15 AM EST
    Hey how`re you guys?

    I`m a 19yr. old aspiring entrepreneur from the Philippines and I`m planning to start my business. I`ve got everything in place, all I`m lacking now is funding.

    I`ve been trying to find ways to raise money without loaning from anyone. I need about Php100,000 which roughly converts to about $20,000 for my primary business. So far what I`ve been trying to do is to set-up a smaller business, whose cost is small and within my current means, which I will use to pay for my bigger business.

    Is this advisable or not? And if you have alternatives in mind, I`d very much like to hear it.

    Thanks!
    youdontknowme2006-11-4 8:16:54

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    Dimitri Roleda, dimitriroleda@gmail.com

    • 66 posts
    October 11, 2007 2:42 AM EDT

    Youdontknowme,

    You strategy is a smart one... plus by generating your own cash, you will have a discipline and respect for money.  I just encourage you to have your first "feeder" business be in a similar line of work to what your new "bigger" business is going to be.  Good luck with your LAUNCH!

    -Ifyoudontknowmebynow

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    Mike Michalowicz
    Author of The Toilet Paper Entrepreneur

    • 1 posts
    June 18, 2013 3:40 PM EDT

    The best way to do business is to do it with your own funds.  Loaning may cause more stress but how does one become equipped with money saving strategies.  I learned this the hard way - I had to stumble here and there since there is really no absolute road to saving.

    It would help if you are exposed to resources like this forum blogs like The Dime. http://www.thedimecolorado.com   Though this is specific for Colorado based people, the tips and saving suggestions may help you.

    youdontknowme,

    Try this.  It should work.  You are young and have a lot of opportunities ahead.







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    Save money now!