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Investing your own money in your business will make you work harder
When you start off you will likely be using your own money to pay for web design, SEO, marketing, etc. and you will work harder because you're putting your own money into it. A lot of newbie business owners use their family's money, their friends' money, or use a credit line in order to do anything they need to do. I'm telling you that if you use those 3 methods to get off the ground, you won't treat your business the same way, because it won't be your own money that got you started.
You need to sweat before you start your own business, then invest your own profits, and you will see that you invest yourself into your own business more because you see it as something you built from the ground up with no help at all. I know a lot of business owners who prefer bootstrapping over bringing in investors because they don't want unnecessary help giving them money in order to leap from to success. They say that it doesn't feel like your business after you take someone's money to be successful, and that's not something they want in the end when they're making thousands a day.
Below are a few things to think about when you're investing your own money into your business and pushing it towards success.
You're not relying on an investor
Investors have a big bank account that can help you out along the way, and I'm not opposed to them as long as they have a buy out option, but it won't feel like your business until they're gone.
Normally, an investor will ask for a portion of your equity, which means you have to sign over a chunk of your business for some cash, and that means you have to consider their recommendations if you want to keep them pleased.
Just invest your own money now, build something everyone loves, and the money will come to you without having to rely on an investor
You can use cash or credit, as long as it's your own
Whenever I'm starting a new venture, I'll use my own money or credit lines, because it's my own funds that will be used and I'm not relying on anyone else in the long run. Yes, a credit line isn't actually my own money, but I'm paying it back over time and actually helping my own credit scores along the way, which help me with bigger purchases later on
The more you do this, the more you get back, because you don't have to pay back anyone that gave you money to get off the ground. If you're spending money that isn't yours, like on a credit line, you'll have to pay it back but that's normal. If you're accepting thousands of dollars from a family member or friend, you'll have to pay them back and they might even want a part of the company they don't know anything about. So, just use your own money
It will be sweeter in the long run
When you're making hundreds of thousands of dollars in profits each year, you'll be able to look back and see the day you decided to invest $100 or even $5,000+ of your own money and not take on any investors or business partners. Now you're at the top of your game, dominating a niche, and you don't have to write a check to anyone that gave you money at the beginning
Investors do have a lot of money that can certainly help you out along the way, but you'll be signing away a little bit of your soul if you team up with them. You can use your own money or credit lines to fund any digital startup you have in mind because you can hire programmers from overseas and you don't need to spend thousands on something that actually costs $100s. In the end, it will feel much more like your own business and not something you built with the help of others. Think about it, how awesome will it feel if you were to get acquired by Google or another big tech company and you can say "I built this myself!"
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