If you have something you want to accomplish but don’t have the funds to make it happen, it’s time to start getting creative.
People often believe that you need money to make money, but this isn’t always the case. Take equity release, for example; this is something that allows homeowners to tap into the value tied up in their home as a lump sum or steady income stream. There are various types of plans available so make sure you do your research if this is something you’re considering.
I want to share with you some ways to raise money without doing a Kickstarter or Indiegogo campaign. It’s this little strategy that involves using OPM – other peoples money.
My girlfriend Samantha and I are getting ready for our huge trip in 2018 where we will be living in a different city every month for a year. For 12 months we will be filming a reality TV show to document the experience.
I’ll be honest… a trip like this ain’t cheap!
Filming the show itself will be over $300,000. Then, you have to also figure in travel costs and living expenses as well.
Let me share with you how we’re going to be funding this whole awesome experience.
Once you figure out what you want to do, whether that’s filming a reality TV show, starting a business, or taking a dream trip, you need to determine how much it’s going to cost.
You have to know your budget so that you don’t go into something with unrealistic expectations and get completely blindsided.
Through creating a solid budget you can start to build a strategic plan.
Now, you need to ask yourself these simple questions…
- Who are you helping?
- What will the end results be?
- What value is going to come from it?
Think about who can benefit from the value you’ll be providing and how they can be a part of it. If you’re going out to get investors, they obviously want to know what they’ll be getting in return for helping fund your project.
To give an example, sponsors of our 2018 trip will be getting tons of promotion throughout the filming, so it ends up being a win-win situation.
Yes, you can put all of your own hard-earned money toward what you want to accomplish, but there are other ways for you to make things happen.
Many entrepreneurs become successful by figuring out new ways to add value to people and by bartering with them.
There are plenty of ways to offer someone something other than money, including your time, reach, or resources in return for them helping with project costs.
Essentially, you’re using someone else’s money to fund your needs, but they’re getting something valuable and worth their while in return. Then, you make money in the process.
That’s what smart entrepreneurs do!
Be creative. Think about what you’re good at and what you can offer people that will help them. What value can you bring to the table that will make someone want to invest in you?
I’m projected to reach about half a million dollars in costs to cover the creation of our reality TV show. Unfortunately, I don’t have half a million in cash just laying around.
I’m providing value to investors through offers ranging from advertising and promotion of their brand or business, mentorship programs, and influencer features as well as executive producer roles in the show.
There are plenty of other ways for you to create revenue as you move through a project or goal. Just keep in mind that the money in your pocket isn’t all you have to work with.
With the right mindset and drive, you will be able to create a kick-ass network of people willing to invest in you.
Stop putting off goals because you don’t have enough money to get started.
You will FIND the money to make your business ventures come to life. It’s all about the work and creativity you put into your strategy.