ways you can easily raise up capital for your next start up business. You need to know also that this means of raising and sourcing for your small start up capital have been tested and proven to be the beset means to get start up capital. I encourage you never to apply for a loan to raise capital because there is a hidden play behind raising a start up capital through loan which I shall discus later here in this blog.
1. SAVE FROM YOUR PERSONAL EARNINGS
You can easily raise up a start up capital for your next small scale business by learning how to save part of you earnings. If for instant, you are earning N10000 per a month, you may decide to save N5000 for your future business prospect. Once you keep doing this for some thing, you will find out that sooner or latter, you must have gotten your start up capital. Lets do small math here, if for instant now that you are earning N10000 per a month and you have decide within you that you will be saving out N5000 each month for your start up business capital and you stick to it by 6 month time you must have save 30000 by one year you must have save 60000 while in two year you have save N120000.
2. KEEP A TRACK PROGRESS OF YOUR INCOME
Since I am an entrepreneur, I have come to understand that if you don't keep a track record of both your expenses and profit at the end of the month, you may be running out of deficit in the near future. If you are a computer operator and you have a system, you can use MS Excel to draft both your earning and monthly expenses to find out if you are progressing or running in deficit.
3. LEARN HOW TO CONTROL YOUR SPENDING HABIT
One of the greatest eater and destroyer of income is expenses, if for instant, you are seriously planning to start up your own business by the end of this year, you need to control how you spend money, you can read more on how to control your expenses by clicking here.
4. LEARN TO BE FOCUS
Being focus have to do with you trying to look up and have the spirit that you must start up a business. Once you have this zeal, it will go a long way in making you to stick to the plan of you lunching your dream business, this will create the disciplinarian behavior in you and it will make you have the mind set to do everything possible to make sure you realize and achieve your start up business goal.
5. MAP OUT THE YEAR
It is also a good practice that you map out the year it will take you to start the business, take for instant, if you decide to start let say a restaurant business as a Nursing Mummy, you can decide to raise capital let say from now being 2015 to 2016 this will give you the needed focus and vigor to pursuit the business to see it happen.
If you can follow this five Tips, you can easily get your start up capital before hand.
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