How to raise capital for the business?
The most important thing for a business is money. If you have no capital, don't dream about starting a business. Without seeds there is no agriculture, and without money there is no business. Seed capital is usually raised through personal savings, family financing, job balance. Remember, don't start a business with borrowed money or loan money. There is a faith behind it, but there is more to the craft.
We used to do a trick to collect Holi wood in the school age. No one in the village wanted to lump the timber, so everyone brought a timber from his house. Then we would do the same thing in front of all the houses, and we would humbly tell the landlord that, like everyone else, you should give some wood to Holi. Everyone thought that if a neighbor provided wood, we should pay. That is how our purpose was achieved.
A similar tactic comes in the business. Start investing your money first. There are many incentive schemes, concessions for the new industry. They should be taken advantage of. Indirect loans were withdrawn from banks or certified financial institutions, indicating that sales and incoming had started, that their records and no loans had been taken before. However, the discipline of his repayment was strictly observed. Because of this, it can be difficult to ask for a new loan. As you start to make a profit, the capital you invest in becomes free. The next game is played on Ganguly and new loans.
When we invest hard money in a business, it should always be kept in two parts. The first should be reserved as capital and the second in case of emergency. When we started the shop, we made a mistake. All of the father's job stock ran out of shop space and shoplifting. We did not assume or reserve the potential risk. As a result, in the first year, we had to pay for the loss of all jewelry, including mangalsutra.
If the new business is operated for 3 days, then it should be done automatically. Money from sales should not be wasted in chains. Only if any transaction is profitable. Once in a while, I was always aware of profits. At the time of purchase, the goods have been slashed and lowered by the price. I was initially skeptical about debt, but banks taught me the importance of extending a loan. That's why I learned about one shop in a shop, learning the skill of borrowing - timely payments, investing money and refinancing. 'My mind, my money is thirteen,' I quote from my talk. This is the configuration behind it.
Take two precautions when making a loan. Don't fall into the trap of private lenders that charge interest rates at all, and don't use the loan amount for any other reason than the business. Recognize the importance of the phrase 'money attracts money'.