How can you fund your business as a new entrepreneur? There are resources available to you if you are willing to create a road map for your business upfront.

If you don't have money to start the business of your dreams, there are financial resources available to help you fund your business. One of the most common objections to hiring a business coach is money. People often say things like "I need more clients first", "I can't afford it yet", "I have to talk to my husband", and the list goes on. But oftentimes, it isn't a lack of money it is a lack of being resourceful. When people are resourceful and come up with the money it shows great trust in themselves and the process, and that they are ready and willing to do what it takes to build the business and respond to their calling.

The difference between men and women and how they tap into financial resources to fund their businesses

No one needs to take extraordinary measures as there are options that may be a little uncomfortable, but not dramatic. Men, in general, are bigger risk-takers. They are willing to have a half-baked idea and jump right in. On the other hand, women like to be prepared upfront. Completely set and know for sure that the business is going to work.

The question becomes, how much risk are you willing to take. A lot of the discomfort from the financial side is not having enough information. The information you need is the specific details of the products and services you will be offering. Conceptual details like how the product or service will be delivered, what the product or service looks like, what they feel like, how is the supplier, who is the target audience, etc.

Likewise, you need to develop financial projections. It doesn't matter if this is service-based with little upfront investment or something more complex. Without the financial projections, your idea seems even scarier. It is important to know how much it will take to launch your business. Similarly, you need to know how long it will take to generate revenue. And, it is important to have an expectation of what the early months in your business will look like in terms of money going out versus money coming in.

We don't know what we don't know when starting a business

When you are starting a business, the best thing you can do is take advantage of the knowledge that consultants and coaches offer. They can help you plan ahead and ensure you have all of your plans in place.

We don't know what we don't know. Having someone to guide you and help you build processes saves time and money throughout the course of your business.

Diane shared a quote from a documentary, The Biggest Little Farm, "There's never enough time to do it right, but there's always enough time to do it over." In the end, if you don't do it right the first time, you are going to have to spend the money anyway. It makes more sense to pay it upfront and do things right instead of losing precious time in your business.

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