Tuesday, February 12, 2008

Debt For Dollars

Have you ever heard the saying "You've got to spend money to make money?" Maybe you've heard it, but do you understand it?

The basic, and simple notion is that in order to create something that is able to garner revenue, one has to spend money on whatever that something is. If you want to build a website, you have to buy software, pay for a domain name, etc etc. A lot of us don't have enough cash off hand to start our own businesses.

Ever heard of a small business loan? Furthermore, ever heard of a credit card?

It's a dangerous tactic. Credit cards can have high interest rates, and if one has a high enough balance, high minimum paymets. As for the former, many credit cards will offer you one year of 0% interest. Others will offer you low interest rates for the first year or so. TAKE ADVANTAGE OF THESE DEALS! They are truly good deals. They are free loans.
And loans can be quite expensive.

Now, I'm sure all of you reading this are thinking "Isn't debt a bad thing?" The answer is, of course it is. Starting any business is risky. But in todays world of youtubes and myspaces, and even much lesser known software companies and popular blogs, anyone can start a successful online business. Obviously not everybody will be as successful as Tom Anderson of Myspace, or Mark Zuckerburg of Facebook, but there are varying degrees of success.

Developing high traffic is a simple as good marketing. There are thousands of young professionals out there dying for a job in their chosen field. Consider hiring one of them to market your business for you.

Maintaing high traffic is dependent on offering good, entertaining or informative content. With user based content at an all time high, this can be particularly inexpensive.

Considering the former: DON'T GET INTO UNMANAGABLE DEBT! It's a quality of life issue, and you will not want to deal with the repruccusions. Make sure you are ready to make the payments on whatever debt you acquire, and make sure you aren't in danger of losing your house or car.

That said, you should be able to get your idea for a web page up and going for somewhere in the lower thousands. Do you know anybody who is into web page design? See if you can get a good rate with them. Shop around for the best deals. The more time you spend working out the logistics of starting your own business, the more efficient you will spend your money. Take your time, but start now!

And keep in mind, this post is to get your mind working positively. To let it know that there is oppurtunity out there for anyone who is willing to take it. I'm not advising putting your entire life at risk, but am advising that you consider taking some risk. The greater the risk, the greater the return. No pain no gain. You've got to give to receive. Etc. Etc.


----t h rive---- said...

It's true, and especially in business start-ups.

Even making more dough career-wise is an initial investment. Training, diplomas, more schooling - all things that cost some to start - but overall will increase your value to your employers. Lotsa lotsa more value. OR if your department is paying for your schooling, AWESOME - but that's even at an opportunity cost of missed business back at the office.

----t h rive---- said...

P.s - how does one email you? that email given (.edu) is a bouncer...