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Where to Get Money – Fast

Written by: Bonny Albo

Article Overview: In a financial crunch this month? Read these five creative quick tips on where to find money, quickly, to get your business back on track.

Where to Get Money – Fast

It happens to even the most experienced of entrepreneurs: a cash crunch. Perhaps you failed to work out your break-even analysis, or maybe oil prices took a huge jump again. No matter what the reason, you need money, and now. Here are five quick tips to get you what you need right away, without too much hassle.

* Use the equity in your home or business temporarily.
* Sell extra equipment on eBay, or use a consignment shop. Look around your home and office space. I'll bet that you've got more than a couple of things you or your business no longer find useful. No matter how big or small, someone else will most likely want them. Plus, collectibles are huge deal on eBay and other auction sites, so any items that you've kept locked away for years in the attic (or collecting dust on the wall) can easily be recycled into someone else's treasure - for a fee. Within a week you could have anywhere from $20 to several thousand dollars in your bank account.
* Take a peek at your jewelry box - gold is worth a lot more than it used to be. Did one of your parents, ex-lovers or friends give you a bauble that you no longer wear? Go to your local jewelry shop and have it appraised. The value may make you richer than you thought you were! I remember several years back I had a financial crunch, and took a diamond promise band into a reputable shop to see if I could get anything for it - something I hadn't worn in over 15 years. Surprisingly, it was worth ten times more than what I thought it was.
* Explore with your creditors ways of extending the terms just a bit longer until the next big check comes in - and then pay them promptly as soon as it does. By keeping those who you owe money to informed, and then following through with your promises, you will build not only better credit, but a much better business reputation as well.
* The next time you send out invoices, add a small piece of paper to every bill. Make it a reminder of sorts that all bills paid within a certain time period (say, 7 days) will get a 1-5% refund or credit of the purchase price. Not only will you get a bunch of payments all at once when you need them most, you'll make your customers happy they could save a couple of bucks in the process.

Did these tips help you? Do you have other suggestions or real-world advice to help other cash-strapped entrepreneurs? Share with us in our discussion group, or send me an email with your results. Once you are back on track, make sure to take a peek at our record keeping and financial management sections of Entrepreneurs to make sure business-related financial crises are a thing of the past.

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Related Forum Posts
Re: Which would you start: a Blog or Online Community? - It is a difficult decision to make. Lets start it this way - What are you more interested in? Money? or Friends? or Both? If its purely Money, then Blog might be an appropriate answer. But consider this - It will be people (visitors) that will bring traffic to your blog and then Money will follow. This will be possible after a time and during this time it will be your friends who will be the starters. If you are looking for friends only, then its true that not many will be interested in knowing how you have beaten them in the game or the other way round. So it will be preferable to have a Forum where they can share ideas with you and others. But you can share your insider knowledge with them and invite comments from your Blog. You can also put up information on what others (including your friends) don't know about Tennis. The blog you create can provide News, Inside Information and also Techniques that can be used by the new entrants in the world of Tennis.
Making Money in 2011 - Hello forum members! As we draw closer to the new year I thought it would be appropriate to change the title of our forum category "Making Money in 2010" to "Making Money in 2011" - I'm looking forward to some interesting discussions and wish everyone a prosperous New Year!
QuickBooks vs. Microsoft Money vs....? - I have always used Microsoft Money to run my business - accounting, invoicing, etc. It came with my computer when I got it and integrated well with my online banking system so everything is a breeze. It only takes 30-60 minutes every quarter to do the bookkeeping (keep in mind that I have a very simple business - no inventory, very little invoicing, I do all my payments by credit card, etc). Is QuickBooks or Money the best accounting tool for small business owners? Or is there something even better?
Business magazines - Fast Company is pretty good if you're into technology although it can be very on the edge. Entrepreneur has become one giant advertisement and I cancelled my subscription. Selling Power also has some useful content if you're looking at improving your sales skills / presentations.
Re: What or Who Sparks Your Business Interest - It's interesting to see what the different motivations are by Age Category. I've noticed this around me: 20 to 29yr olds: Motivator: Money 30 to 39yr olds: Motivator: Success/Ambition 40 to 49yr olds: Motivator: Family comes first 50 to 59yr olds: Motivator: Leaving a legacy i've only gone that far in my analysis. Of course this is a braid generalization but I find that it helps direct my marketing to individuals in different age brackets. The product/service can be the same but the Marketing message (Benefit Statement) to a 20 year will revolve around "Money" vs. a 30-something would be on their "Self Image"


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