Monday

Lawn Business Tip: Raising Money

I received an email asking about how to raise money for a lawn business.

Although I do go into greater detail about this in my lawn business course, here is a very basic list of ways to finance your business venture.

  • Tap into your savings
  • Ask for money from friends and family
  • Wisely use a credit card (do your due diligence)
  • Sell something
  • Apply for a loan at your local bank
  • Visit the small business administration
  • Have your customers pre-pay you

Speaking to the business owner who emailed me, you mentioned you already had the jobs but needed some advice about the money. Since you have the jobs, option 5, having your customers pre-pay you, looks like it may be one of the better choices for you to look into.

By asking for prepayment, you could smartly cover your costs as you grow your business. You might decide to ask for full or partial payment depending upon what you dare to do. That way you are jump starting your cash flow which sounds like it might just be the ticket you're looking for.

Of course, stopping into the SBA is also a very good idea.

Hope this helps.

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