How To Get Funding For Your Business

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How to get funding for your business? Are you  ready to take your business to the next level but   you need a little doe to get it done? Well, this  is great news. We have more money historically   speaking than ever for businesses. But you got to  know how to get it done, where to look and what   to say when you get there. I'm going to tell you  the full truth like Noelle always does. Let's go. I'm going to give you a step-by-step process  on how to get funding for your business   now. I'm going to share with you 5 easy things  that you can do to get money for your business in   less than 30 days. And I'm going to share with you  my dirty little secret on how to get about 100k   in weeks, not years. So, as a business owner,  there are some real benefits that you want to   start taking advantage of and one of them is  going to be business credit. But before we get   into that, let's talk about what it is to have  a true business that's going to give you all   of the benefits to unlock all of this funding.  As an entrepreneur, Noelle runs 6 businesses.   I get these great ideas. Some of them have worked  out, some of them don't. But I'm going to tell   you how to have a successful business and get all  the funding so you never have to worry about money   ever again in your business. As a business  owner it is important to take your business   seriously and dedicate your time to it. But if  you're like Noelle, you probably have a job. I'm   not sure if you do or if you don't. But I know  when I started, I was working for someone else   and I had to transition from working for someone  else to start working for myself as a full-time   entrepreneur. And most people will tell you that  this is impossible. That this is hard to do or   this makes it more difficult. But actually, that  is not true. In fact, I find that people that have   a job and that have decent income are able to get  their businesses launched way faster than people   that just quit their job and then try to start  their business. And I'm going to tell you why.   As a business owner, I own my own time. I have my  own business, I set my hours, I pick my clients,   I decide what it is that I want to do in my  business. I no longer have to take assignments   that I don't want to take or work on things that  I don't want to work on. I got to create the   business that I wanted. Additionally, I was able  to write off most of the expenses that employees   are not able to write off. In fact, I always  use the jay-z line. I'm not a businessman, I'm a   business, man. In other words, you become your own  business and pretty much everything that you do in   your life becomes a tax write-off because you're a  business. And with the fact that you can have your   own business, you then get to set your own income.  You're not really capped at your job. Whatever   they pay you, they pay you. Whatever their  bonuses are, their bonuses are. But with your own   business, you get to decide and you get to create  and expand as you choose. You may want to create   a business where you only make 5 or 10 thousand  dollars per month and go surfing and shopping most   of the time. Totally okay. There's been years when  I've done that. Or you can take it to the max and   have a multi-million dollar business with lots of  employees and work in your own business and grow   it to the level where you can just make a big old  corporation like Jeff Bezos or Bill Gates. Again,   you get to decide. And that is the true benefit  and advantage of having your own business. So,   let's talk about how you get it done and get  all the money that you need. So, as I mentioned   before, your business is you. You get to create  whatever business it is that you want to create   whether you're selling products or you're selling  a service. But before you can actually start   getting funding, you have to be clear in your mind  what it is that you are doing. In other words,   you need to write a business plan. I know, i know.  People say, "Oh, this is hard. It takes too long."   But the truth of the matter if you really want to  start unlocking a lot of funding, you need to get   really clear on your vision for your business.  And you're going to have to write it down   or type it up. And so, one of the things with the  business plan that's going to be most important   because it should not take you more than a  couple hours to sit down think about what it   is that you're going to be selling or doing,  who your target clients are, how much are you   going to be charging for your product or service  and what is your plan, okay? How are you paying   for this? How much are you going to spend on  marketing and how much do you expect to make?   Those are the key things that you need  to come up with your business plan.   No. You don't have to do so much market research  and see what other people are doing and find   who all your competitors are and all this other  stuff. Now, trust me. I have two master's degrees.   One in economics from Penn State and I  literally have my MBA from Baylor. And I know   some people can tell you that you need to do these  long-drawn-out business plans and spend hours or   pay companies to do them. And I'm not going to say  whether you should or you shouldn't, but I'm going   to tell you I never have. I think the best person  to do your business plan is you. It's your vision,   you create the business and you do what it is that  you are going to do. I gave you the 5 key areas of   what you need to do and that is pretty much the  basis of it. And doing so will allow you to be   able to show this to other people and unlock  the funding that I'm going to tell you about.   So, step one to getting your business funded  you're going to need a real business. Okay, guys?   You have to name your business. You're going  to have to register the business with your   secretary of state. And what that means is  you're going to need to get either an LLC   or a C corp or an S corp. You're going to have  to register the name and the business. Now again,   I am not an attorney or a tax professional. So,  I'm not going to be able to guide you on that   legally. However, if you have questions please  reach out to your accountant or your lawyer   as to which structure is best for you. But I will  tell you, when I got started, I mostly used LLC's.   I know there are people out there probably some  of them on YouTube and on podcasts and things   like that that will tell you that you do not need  to get your business license in order to do this.   But I'm going to tell you, if you're not serious  enough to go get the business registered with the   state and actually start a business, you're going  to find very few people that want to invest in   you. And essentially, what business funding  is is that is other people's money that's a   bank or a lender or a venture capitalist or  angel investors investing in your business.   And if you won't invest the time and the effort  to actually make your business a true entity,   you're going to have a very very difficult time  finding anyone to do that for you. So, get the   business register with the state. The next step,  very easy. Get an EIN number, get a professional   email, get a professional website, okay? And  a professional phone number. So, those are the   steps that you're going to need. You're going to  need to name your business, you're going to need   to register with the state, professional phone  number, professional email, professional website,   EIN number. Sorry, 6 things that you need right  there. The EIN number is completely free. It   stands for employer identification number. And  this is what you're going to need in order to   write these things off and have a business that is  recognizable by the IRS. So, don't skip that step   because that's going to be important for how  you double or triple the amount of money that   you can get. Let me tell you. So, let's talk  about how you build business credit quickly.   So, I'll quickly explain to you that there is  a thing called business credit. Alright? If you   don't already know, we have personal credit and  we also have business credit. And the two things   do not have to intersect if you don't want them  to. If you create a legal business, you can start   to build business credit and you can do it very,  very quickly. In fact, I made an entire video that   breaks down business credit, how to get it, how to  understand it. And I'm going to put a link below   so that you can watch that entire video so you  have a full understanding of business credit.   But I'll quickly give you an overview. So, you can  build business credit very fast. In fact, once you   do those things that are outlined, you can build  business credit in 3 ways. Because there's 3   types of business funding. There's vendor credit,  there's store credit and then there's cash credit.   Now, if you have bad credit, you can go through  those steps and start to build business credit   pretty quickly and never use your social security  and never ever rely on your personal credit. If   you have decent personal credit and you want  to leverage that to get business credit,   that is an idea that you can do as well again. I  have a whole video that teaches you all about it.   I'll make sure to put a link below. But the key to  doing this is you will literally start to be able   to get funding for your business quickly. In many  cases, you can go to vendors like Uline, Quill and   Granger and start to build your credit profiles.  Before you do that, you will need to get your Dun   and Bradstreet number. This is also free. You go  to dnb, which stands again for Dun and Bradstreet.   Again, you have to have your full business, you go  through it, you get your Dun and Bradstreet number   and they will create a business credit profile.  This is just like your personal credit only is   for your business and they're going to be looking  at something totally different than is looked at   on the personal credit side. So, that's a great  benefit for you. Now, you have a situation where   you can unlock lots of funding for your business  in your business's name without being on your   personal credit. So, regardless to whether you  have good personal credit or bad personal credit,   you can have excellent business credit with  millions of dollars in your business's name   in just a matter of months. Again, if you have  bad personal credit you're going to have to   start with vendor credit, build that profile then  move to store credit which will be like gasoline.   You know, like Shell station and Chevron station.  They will give you credit cards for your business   and then wait a couple of months and then you can  move up to cash credits such as American Express,   Chase business, Capital one business and those  type of credit cards and those lines of credit.   It's amazing. Okay. Now, here's a big  secret that I'm going to share because I   am what they call a business credit  guru. And I love business credit now.   So, let me tell you some secret stuff that's  new that's kind of just coming out that will   help you build your business credit fast and  get you funding again in weeks, not months.   After you have set up your business, make sure  you get a business checking account. Like I said,   we are in historic times. There is more money  out there for businesses than ever before.   So, if you get a business checking account, I  have students that are getting offers in their   businesses name on day 1. Literally they get their  business checking account and they're getting   offers for business credit cards right from the  same bank that gave them the business checking   account. I had a student that got $24,000 from  Bank of America and that business was not even   2 years old. So, don't think that that's going to  be the requirement because it really does depend.   Additionally, we have PayPal business and square  business so you must have your business set up and   you must have an EIN and then make sure you set up  a free PayPal and square business account, okay?   After a few months of doing some transactions,  PayPal is starting to offer people 10-20 thousand   and working capital for their business. This can  get you off to a really great start. And as a   bonus, because this is Noelle and this is what I  do and you stay with me to the end and those of   those that clicked off the video, they're going to  miss this. I'm going to tell you about another one   that's new. It's called five-star processing.  You can check it out. I'll put a link below.   They are offering business credit to people  with even scores as low as 300 personal   credit scores. You can get merchant processing  from them and they are offering business lines   of credit. It's amazing. Click the link below.  It's absolutely free to get set up. And I have   a student that already has $30,000 right from  them. And his business is not even a year old.   So again, you can do it too. Okay, guys. I have  sheared all the beans but I have even more for   you. If you want more information and you want  a full training, I have created a full course.   Just go to noellesfreetraining.com. Make sure  you click that little like button. Make sure   you subscribe to my channel. I'm growing like  crazy. Please subscribe. Make sure you click   the little notification bell so you don't miss any  of this training. This is Noelle. To your success.
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Channel: Noelle Randall
Views: 97,937
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Keywords: Noelle Randall, Noelle Randall Coaching, Real Estate, Airbnb, How To Get Funding For Your Business
Id: WOeBZGmxeZs
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Length: 12min 49sec (769 seconds)
Published: Fri Oct 16 2020
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