How to Make Extra Money When You’re Starting Your Own Business

Making the decision to become an entrepreneur and start your own business is exciting. But when you’re just starting out, a struggling cash flow can shut your fledgling company down before you even get a chance to get started.

That’s why many savvy business owners find ways to make money on the side while they are growing their dream. If you’re ready to kick off your goals and jumpstart your business but are worried about your income, try one of these ways to make some extra money while you get started.

3 Ways to Make Some Extra Cash and Still Run Your Business 

1. Get funding. If you don’t want (or can’t get) a small business loan to get you started, there are other options to fund your business. A popular way for many entrepreneurs to raise money and a following is through crowdfunding. Some of the most innovative products and companies have been launched to success specifically because they sought help through crowdfunding.

Instead of bank loans, you may qualify for a peer-to-peer loan. These lending options take you straight to the investor. You may have to sign on for a higher interest rate, but you’re more likely to be approved.

Some business owners go the angel investor route. If you know someone with money to invest, they could be persuaded to lend you what you need to get started. Or you could create a co-op in which your supporters become partial owners of your business in exchange for a small buy-in fee.

2. Maximize what you have. If you need to go beyond the funding route, take a look around you and see what potential you currently have to boost your funds. Maybe you have a spare room that you can rent out to help you with your bills. Or you can reduce the clutter in your home by selling your unwanted goods. There are many online apps that you can use to get rid of things that are just sitting around and make some money at the same time.

Most entrepreneurs don’t have the time to sit around and play games on their phone, but if you have a few spare minutes, you can sign up to earn a few dollars in your spare time doing this. There are cash back apps that will reward you for the groceries you purchase, and so much more that you can do from your phone. Money Done Right shares over 100 ways to make money that may work for you here.

3. Land a side job. You can still focus 40+ hours a week working from home to build your business and take on a side job part-time to fund it. There’s no rule against it, you’re not sacrificing your principles, and you’re not throwing in the towel. You’re doing what you need to do to help your business be successful.

Whether it’s delivering groceries, working at a fast food restaurant, or waiting tables, you do what you have to do to get your dream started successfully. Money is money, and you need it.

Your Successful Business is Right Around the Corner

Don’t let funding be the killer of your dream. There are many ways to earn your living while you’re building your business. Soon enough, your company will pay for itself because you were smart and invested your time and energy into ensuring you didn’t go broke along the way.