Successful entrepreneur and CEO, Jay Adelson, demystifies the process of launching a company by answering aspiring entrepreneur’s questions. Today he discusses what the initial steps are after coming up with an idea for a new company. Have a question about launching a business that you want answered? Comment or add a video response! Jay’s Twitter: www.twitter.com EMail Your Questions: askjay@revision3.com Never Miss An Episode! Subscribe Here: www.youtube.com More AskJay Episodes: www.revision3.com ABOUT ASK JAY: Entrepreneur, CEO, and business owner Jay Adelson (Equinix, Digg, Revision3, SimpleGeo) demystifies the start-up process by providing advice, tips, and answering questions. Submit questions to learn how to turn any business idea into reality and maybe even change the world

www.Nabers.com Poor economic times are not dampening the desire for entrepreneurs to start their own business. A study recently showed that there’s little change in the number of US business start-ups in good or bad times. With more people out of work, many are deciding to start their own company, instead of seek employment. They’re following their passion and ideas to create their own wealth and, when they run into obstacles, they’re finding creative ways to finance their business. With traditional funding sources drying up, watch the video to find out how one successful entrepreneur, who launched his company during the recession, received funding and used his own retirement account, Solo 401(k), to help him through difficult times. In just one year his business is booming. To learn more about the Solo 401(k) and how it can help you, visit Nabers.com or call Nabers Group (877) 903-2220.

To get the best business funding option, you ought to have a business proposal, you need to give details of what you need to utilize the cash for, you need to provide supporting paperwork, and you need to provide defensible financial reports. Bankers requirement for this info since it’s the only way they can determine whether you qualify for funding. Another way of guaranteeing that you get the best financing option is hiring a business specialist, an accountant, or a cash flow broker. Hiring a professional is advantageous in that these pros have the obligatory tools, experience, and unproven knowhow to pinpoint the best option.

There are a few issues that you need to make if you are to get the finest business funding option. The most vital consideration is your individual wishes. You need to determine precisely what you need and your ability to pay back since borrowing more than you need or failing to repay in time could lead to financial ruin. You must consider the rates charged. You need to consider as many options as practical to boost your chances of getting low interest and good particulars of repayment. These funding options are in competition and they have to offer low rates to remain competitive. The internet also provides anonymity and unparalleled convenience. You might also get info on good funding options from independent reviews on mags and suggestions from friends, relations, and colleagues.

It is really important that you know the numerous business funding options available and their pros and cons if you’d like the very best. Banks are a good option since they are everywhere, but they are detrimental in the sense that they usually have high rates and they look at your credit score. One of the best options is factoring. This is the best option if you are paid in invoices that mature after a few months. The factor will give you up to 90% of the value of the invoice and this cash will be recovered after the invoices have been reclaimed, and a pre-determined share of the invoice amount as the fee. One more option is getting the cash from a micro-lending establishment. This is a particularly good option if you happen to have a small company. With this option, you get very low rates and your credit score is not an enormous issue. Another preferred business funding option is getting cash from investors. This is a nice option as the cash does not have to be paid back. You might also get ‘cheap ‘ cash from family members and from your friends.

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To draw in the absolute best little business funding option, develop a top quality business plan, provide details on what you intend to do with the funds, provide the supporting paperwork, and produce a defensible money statement. You need to consider enlisting the services of finance advisors, money flow brokers, or accountants in order that you can understand how different financiers analyse these elements. There are several points to consider that you need to make when picking your little business funding option. You must consider your particular wants don’t borrow more than you want. You must consider your capability to pay back the money and you need to consider the interest levied.

You might get your little business funding through factoring. Factoring is all about a third party, or a factoring company, purchasing and coughing up for a pre-set number of your invoices for a pre-determined sum of money ( which is mostly a percentage of the total invoice value ). The company then collects the full invoice amount from the patrons on the day the invoice is due.

An alternative choice is getting funding from a non-profit lending establishment, also called micro-lending establishments. There are many such establishments, particularly in the third world. This option is advantageous in that you’ll get very low interest rates and they do not pay much attention to your credit history. However, this option is detrimental in that limited amounts of money are available and there are usually several conditions that have to be fulfilled.

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Video from our FREE Online Business Course www.myownbusiness.org Session 9 How to Finance Your Business Question “Raising start-up money is one of the great hurdles in starting a business. Would you have any recommendations or some basic do’s and don’ts as to how people should go about this great challenge?” Rod Banks Executive Vice President, City National Bank Topics covered in this video: Starting a business, financing, loans, writing a business plan Transcript: First off, before you begin to think about getting your start-up money together, you need to have a business plan. And once you put the business plan together it will help you to determine how much money you need to start your business. Once you determine the amount, then you’ve got to decide: where is the best place to get it? In today’s world it is very difficult to go to a commercial bank–the typical bank you see on the street– for a start-up business type of loan. A lot of first time entrepreneurs will start off by using their own personal savings or look to a friend or a relative to see if they can get a friendly partner in with them. Some people will look at putting a lien to some degree on their home. Because of the credit card boom, a lot of people today will take credit card solicitations that come out. And it’s perfectly okay to take one of these low interest rate credit card offers if you manage it in a very responsible manner.

3 common funding sources for small business startups. Friends & family are the #1 source. 40billion.com is the #1 resource for entrepreneurs raising money through friends & family.

Nabers Group www.Nabers.com Looking to fund a new franchise or personal business venture with your retirement funds? Authors Jeff Nabers and Phoebe Chongchua (Five Steps to Freedom How to Cut Your Dependence on Institutions and Escape Financial Slavery) suggest that using an investment structure known as Rollovers As Business Startups (ROBS) to fund a business startup or franchise is a prohibited transaction. Jeff Nabers is CEO of Nabers Group, an unconventional planning company in Denver, Colorado. His research and personal dealings with the Department of Labor compel him to recommend against the ROBS strategy. Nabers Group can be reached at (877) 903-2220.