It’s a bit of a knee-jerk reaction for many entrepreneurs to automatically think they need investment when they’re attempting to launch a new business, but it isn’t necessarily the case.

There are many ventures that don’t need outside funding at all, and to seek it out, can be expensive in either cash or equity loss. Having said that, there are circumstances where there is no alternative but to seek funding. For example

1.  If you need a prototype – where you have created something new. Having samples made, testing and modelling can be expensive.

2.  If you need specialist equipment – This will be particularly relevant in high-tech and engineering. Computer technology and bespoke tooling  doesn’t come cheap.

3. Where you have a run away success. This is something a lot of people don’t think about. Strong sales can create a problem if you don’t have the funds to finance production and distribution.

If none of the above apply, think very carefully about whether you really need outside funds. It’s always best if you can retain full control of your venture and aren’t weighed down by heavy interest repayments. 

Motivational Quote Of The Day

“A sense of humour is a major defence against minor troubles.”  

Mignon McLaughlin

Alternative  Quote Of The Day

“A friend is the guy who will bail you out of prison, but your best friend is the guy sitting in jail with you.”                                              

Joey Diaz

Tow And Go Service

It doesn’t take a great deal of ingenuity to set up as a taxi driver, but even with a simple service like this, it’s possible to add a twist and set yourself apart from the crowd.

Jackie Robinson Jr, a taxi driver from Kentucky, set up what he calls a ‘Tow and Go’ service….although strictly speaking, there’s no towing involved. The idea is quite simple. When you call for the service, Robinson takes along a colleague who will drive both you and your car to it’s destination. Needless to say, this is potentially life and livelihood saving for someone who’s had a few drinks more than intended and doesn’t wish to leave their car in a vulnerable place.

There are obviously insurance implications to a service like this, but it’s definitely something you could change a premium price for. I can see a high demand for this is any urban area – particularly at weekends.

Today’s National Day   

NATIONAL SAY SOMETHING NICE DAY!  

PUBLISHERS NOTICE

Important Notice:

How To Get Weekly Compensation
From The “Get-Rich-Quick-Gurus”

I’m receiving £938 a week straight out of their pockets! To find out how YOU could do the same visit…

www.streetwisenews.com/fortune

Wilson Greatbatch died in September this year, but there are many who owe their lives to him. He invented the heart pacemaker, and what’s particularly interesting is that he did it by accident.

In 1956, Greatbatch was building a heart rhythm recording device, when he mistakenly inserted a resistor that was the wrong size. He noted that the circuit it produced emitted intermittent electrical impulses which seemed to mirror those of a human heartbeat. This single observation led to the development of the modern pacemaker, half a million of which are implanted every year.

He was just lucky then? Well not quite. You see, when he ‘got lucky’ he was working hard and he was taking action with something. And then when he had the lucky break, he invested his own time, effort and $2,000 savings into converting the chance discovery into something useable and marketable. During the development phase, he was forced to feed his family from his vegetable garden.

You see, that’s the thing about luck-you’re more likely to stumble across a piece of it if you’re taking action (any action!) with something. And if you do, it will usually only benefit you if you take hold of it, and use it as a stepping stone to something tangible. The people you hear about getting rich through a lucky break were usually working hard when they got it, and then worked even harder to turn it into money and a better life. Luck, on its own, is rarely enough.

Motivational Quote Of The Day

“Creativity is allowing yourself to make mistakes. Art is knowing which ones to keep.”     

Scott Adams

Alternative Quote Of The Day

I won’t say ours was a tough school, but we had our own coroner. We used to write essays like ‘What I’m going to be if I grow up.”  

Lenny Bruce

Another Invention By Accident

While working for Eastman Kodak in 1942, Harry Coover, attempted to create some material to make a transparent gun sight. It wasn’t a success. The resulting compound was simply too sticky. The same thing happened again when Kodak scientists were working on polymers for aeroplane canopies, and it was then that Coover – soon to be Sir Harry Coover – realised they might have discovered something useful after all.

Superglue went on sale for the first time in 1958. Aside from being responsible for more than its fair share of visits to hospital casualty departments, it’s made a big contribution to modern life. And it all came about by accident.

History is littered with examples of people who set out trying to do one thing and failed, but somehow managed to end up doing something better. What did they have in common? They were all trying to do something!

Today’s National Day   

NATIONAL TELL A LIE DAY!  

PUBLISHERS NOTICE

Important Notice:

How To Get Weekly Compensation
From The “Get-Rich-Quick-Gurus”

I’m receiving £938 a week straight out of their pockets! To find out how YOU could do the same visit…

www.streetwisenews.com/fortune