Funding a business

Hawk Teflon

Hawk Teflon

Veteran
My apologies if this is in the wrong section, but I was curious as to how some of you guys started up your businesses. Did you save up over 5 years to start out? Did you take out a loan? What kind? Did you apply for government grant money? How so? I've been looking online at some government grant stuff, but I don't understand if it's legit or not. I doubt everything. I didn't even believe FAFSA was real until my second semester at college.

What did you do? Did you find out a better way later? Sorry I have so many questions (this and other threads), but I just don't want to make rash decisions from no experience thinking it MIGHT be the best way. Thank you to all who are currently helping!
 
When I went out on my own I was lucky enough to stumble onto a production company that ley me lease an oddice and pay out an Avid suite over the period of a year. While the payments were stressful (over 7k a month) I was able to avoid taking out a loan, writing a bogus business plan, ect.
My busniess plan is to evolve with the changing tides, man and banks dont wana hear that.
lol
In today's economy, I promise you'll find plenty who would love to unload an Avid suite on you. It's a matter of shaking trees and seeing what you can find.
Do not go into debt. Honestly with gear prices so low, there is just no need to anymore.
 
Look at it as percentages. Low overhead allows you to bill less an hour...or less hours. With a high overhead (had to pay off 75k in one year or the system would be repoed, no matter how much I had paid on it) I had to bill at least 40 hours a week at 175 per hour. It was a hard, stressful year but it's what got me going. I was able to move from the slumlord the nect year and open a sweeet boutique at a higher hourly rate as the year prior... on a paid-for Avid.
That feels good. Then your system becomes obsolete and ya do it again.
 
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