Everywhere we turn, we see ads for free money, bad credit loans, business startup loans, and many other forms of money that are said to be available. When it comes down to it, is it as easy to receive this money as they say on the ads?
We all dream of money just being handed to us. People are easily lured into lotteries and the potential to receive money at very little expense. Some of us hope for this moment so the need to work is no longer a necessity and living on the beach and travelling the world is how we finish out our lives. Though, I can't say that even myself would do a little bit of this myself. There are others like me that would like to really use the money. Entrepreneurs with dreams to provide goods and services to the rest of the world, as well as contribute to society and helping the needy. Having said all this, the number one question is how does one receive this money?
In today's world, it is hard to know who you can trust. There are hundreds of lottery scams and more popping up daily. We call have full email inboxes with subjects promising easy money. In addition, there are thousands of places where you can buy the information you need to make huge income. These include real estate as well as many other ventures. This also includes the claims of books full of available government grants. These scams are even on our television. Yes, grants exist, but I promise you it is not as easy as they say.
So, how do we get income to start our business? Well, the odds aren't great with the lottery. It is possible, but I wouldn't put all your cards in that basket. We all hope for that long lost great uncle to show up and slide a briefcase full of cash in front of us. Ok, lets think more realistically. We need one of these grants and some loans. Well, after doing the research, we find out that grants are generally not granted to individuals directly from the government, and pretty much all of them are for minorities and established organizations. Even if we fit into one of those categories, the process is percise and tedious. To persue this path, you really need an expert. Someone you meet in person, not something that should be done through email to some stranger in Singapore.
Well, now that I have shot down your "easiest" sounding options, where do we go? Well, we need loans. Once again, for a startup business, not much chance. Yes, you can prepare very sound financial forecasts, but you better hope they are VERY precise and realistic. To be honest, think about it, would you loan a stranger twenty bucks if they promised to pay you pay six dollars each week for the next four weeks? Not only would that little bit of profit not be much use to you, but there would be extremely high risk that you would not ever see a penny.
Are you wondering what my point is? Yes, I guess I am shooting down your dreams of riches and the easy life. Without a personal investment it is very hard to get that loan. If you are poor and have dreams of owning a business, you better save as much of that minimum wage income as possible and maybe you can start your business in ten years.
I am an entrepreneur. I have a bachelor's degree. I have dreams, and I have intelligents. What I don't have is money. It was easier for me to get student loans before graduation then it has been for me to receive anything now. Let me tell you, while a student, I was a liability with my partying daily and crazy college lifestyle. The potential for me to drop out could have been considered very high. Now, I am ready for responsibility and I have the drive. So, why doesn't anyone want to give me money?
Well, it is back to the drawing board. Fine tuning my business plan, adding up my current assets and documenting them, and working on raising my credit score are my only options. As for the rest of you, I hope that you have better luck in your ventures than I have had up until now