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3 Ways to Find the Necessary Funds to Start Your New Business

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So, you’ve decided to start a business. Congratulations! You’ve got a great idea and a plan, but now comes the hard part: finding the funds to turn your idea into a viable business. Fortunately, there are lots of ways to obtain the funds you need to get your business off the ground — and also quite fortunate, starting a business on the internet is actually much more cost-effective than if you were to start an offline / franchise type of business.

Before jumping into a few different ways you can gain access to money to fund your project or business idea, let’s first list some of the cost considerations you should have in mind when starting a new business.

  • Domain, website, hosting and design
  • Paying staff and employees
  • Company registration (Inc, LLC)
  • Office supplies, desks, computers
  • Legal counsel, outside consulting services
  • Insurance for yourself and employees
  • Rental, mortgages and franchising fees
  • Equipment, inventory, and products

As you can see, before we even get started with the investment and funding options available, there are already plenty of things you will need to map out and consider when starting a new business. As exciting as it is to go live with your new site or business, the more time you spend on the foundation and pre-planning process, the less headaches and more success you will potentially have in the future.

Once all of this is in place, you can then start exploring your options with the following business funding and investment options.

Self financing

Of course, the easiest and most straightforward way to finance your business is to pony up the cash yourself, making this an attractive option for many people. However, even if you can afford to go this route, there’s one big caveat that needs to thrown up: If your business flops, you are on the hook for all of the funds you have invested into it.

If you do want to go this route, there are several ways you can do it. First, you could simply tap into your “rainy day” fund for the start-up capital you’ll need. This could be in the form of your savings account, inherited funds, etc. One of the biggest advantages of investing your own money in your business is that it sends a powerful message to future investors that you are fully committed to your venture. Investors may be more likely to invest in your company if they see that you have something on the line, too.

You can also liquidate some assets to pay for the start-up of your business. If you have real estate, stocks or bonds, or something else of value that you can (and are willing to) part with, this can be a quick way to get the funds you need for your business. Remember, however, that there can be some consequences of liquidation some assets, such as real estate, in terms of taxes.

If your credit limit allows, you could also use your credit card to finance your business start up. This is a convenient way to order supplies, for example — while also allowing for the opportunity to rack up a bunch of rewards or bonus cash in the process. However, always be aware that because credit cards carry with them hefty interest rates, so your purchases could end up costing you much more than it would originally seem.

A home equity loan is another possibility for personally financing your business. If you own a home, you can borrow against the equity in it in the form of a line of credit. However, there are some restrictions that may make this a less-than-desirable option for some people.

Taking out a loan

If personally financing your business start-up endeavor isn’t the best option for you, there are other things you can do. If you don’t own a home, for example, you can approach a bank or another type of lender for a personal loan. Personal loans from banks typically come with lower interest rates than do credit cards. If your credit is quite low, you may struggle to find a bank willing to lend you money. In those cases, it may be best to go to an alternative type of lender for a personal loan. Click to find out more about your borrowing options if you find yourself in that scenario.

Finally, you can always borrow money from family or friends if none of these other options are viable for you. People who know and trust you may be able to help you out, and you can repay the loan when your business starts bringing in money.

Paypal Working Capital

For anyone that already have a business online and might be simply looking for money to put back into their company, there are many ways to borrow money from banks and lenders, but these often come with a lot of verification, history reports, and high interest rates. Paypal has not only changed the way customers and business make financial transactions in the world today, they’ve also changed how businesses can borrow and access lump sums of money as well.

Through the use of Paypal Working Capital, Paypal customers can borrow up to $100,000, while not having to go through a credit history check in the process. The decision on how much money can be borrowed and by whom, ultimately comes down to the account history and how much volume is currently being pushed through the account. What also makes PPYC unique is that the borrow money is paid back through the use of incoming payments to the account, and you get to select how fast the loan is paid back (usually in 15%, 20% or 30% increments). There is also a flat percentage fee that is owed on each borrow amount as well.

Money is Simply Waiting There for You

These are just a few of the ways that you can find the money necessary to start your business. There are lots of others, depending on your current financial situation and business goals, but these are some of the quickest and most convenient ways to get the cash flow you need to get your business off the ground.

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Entrepreneurship

Must-Have Business Tools and Resources to Grow Your Startup Online

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Have a business of your own, or currently working towards starting one of your own? Great work!

Whether you’ve already started or just in the pre-planning process, you will likely have noticed that the world of online and offline business has changed a lot over the years. Not only is it now easier to get started with a business of your own, it’s also more saturated and flooded than ever before — which also mean more competition, headaches, day to day tasks, and overall management of your business to get that upper edge.

In short, if you want to survive and compete against the best, you will need a little help from some of the top tools, services, solutions, and guides on the internet today. To help with this process, today we are going to take a look at some of my favorite tools and resources that I use and recommend for every business owner.

Web Hosting and Site Development

I first started created websites back in the mid-90s, and everything was straight HTML back then. I even had one site that was made up of more than 10,000+ pages of HTML — all done by hand (no programming at all, and also powered by 16 dedicated Dell servers). This would all seem like a nightmare today, as WordPress and shared hosting has made the process of creating a website or blog extremely easy and affordable. There are NO technical skills required to start a website these days — all it takes is a click of a button and walking through a few simple steps. Best of all, WordPress makes it possible to have a great looking site without ever needing to touch a line of code or be a graphic designer.

When it comes to web hosting, you have more than enough to choose from. In short, if you want to go live with your first website or blog and need to grab a domain name, it’s best to go with a shared hosting plan — usually under $5 to $10 per month. I personally recommend Bluehost, as they are one of the largest and most trusted hosting brands in the world today. They are also the #1 hosting solution, as recommended by WordPress.

As a reader of ZacJohnson.com, all new sign-ups to Bluehost through this blog will receive a free domain name, 60% off hosting plans and also have SSL and WordPress set up on their new site for free.

Email Lead Generation, Mailing and Call to Actions

No matter what type of business or brand you are running, email and content marketing are key. If you have a website or blog, it’s crucial to have a website loaded with great content, but also call to actions to get your audience to take action and engage.

At the same time, you also need to make sure your content is working for you 24/ — specifically bu getting new subscribers to your mailing list daily. Here are two of (my favorite and) best ways to implement these strategies into your business right now.

  1. OptinMonster – You’ve likely seen popup subscribe and call to action forms online. They’re also likely to have been created and running through the power of OptinMonster (created by Syed Balkhi). This tool not only provides the best popup and newsletter subscription forms online, they also have full integration with WordPress to create call to actions and split testing throughout all different areas of your site.
  2. AfterOffers – If you are looking for a solution to increase your mailing list, while not having to sign a long-term contract, AfterOffers is probably a great option for you. This platform has a network of hand-selected sites that promote your newsletter list to their audience and provide only 100% opt-in subscribers delivered in realtime right to your list. Check out their site and see how you can start building your mailing list immediately.
  3. Constant Contact – Every business will need to have the ability to manage their email lists, send out to subscribers, and also have the necessary tracking features and tools to scale in the process. That is exactly what you will find with Constant Contact. You can sign up for a free trial at their site and see what email marketing and list management opportunities they have for your business.

Once you have the power of email marketing working for your business, you can scale it virtually forever. For this to work best, you will need to have solid call to actions through your site, a sales funnel, an autoresponder series, and also putting in the time and effort to set up new email campaigns and traffic sources.

Everyday Business Tools and Email Usage

Of all the tools and resources that business owners use daily, email is probably the most common. A lot of people like to spend hours per day on social media, but if you were to track my time, I think I spend most of it within Gmail — and making all of the new business connections and deals happen!

Gmail out of the box is great in itself, but there are many great tools and applications that can be added in as well. For example, I get a TON of emails daily about advertising and guest blogging on various sites. Thanks to the use of ‘Canned Responses‘, I only need to write a response email once, then click a couple of buttons to have that same template email sent in response to each request.

I’m also a huge fan of using custom email signatures. Right now I’m using Wisestamp, which instantly adds my profile photo, contact info, social profiles and site information to all of the emails I send out daily. This easily adds up to thousands of new people getting a better first impression of myself monthly through email, versus just seeing an email with the signature of “Zac Johnson”.

Lastly, Gmail and Google are great for all of the “suite” tools they have to offer such as Google Docs and Sheets. I use both of these applications daily, and best of all, not only are they free, they are also all stored in the cloud and accessible right within your account.

All in One Maintenance Software

As an entrepreneur or site owner, you are likely running many different aspects of your business. Whether it’s emails, invoicing, revenue reports or tracking your latest ad campaign, you likely have a lot of files all over the place and not many ways to connect each of them together. This might not seem like a huge problem now, but over the course of a year it could add up to hundreds of hours of wasted time.

Instead of having to open and create individual files within Excel and Word, sending out emails through Gmail, and then managing and tracking progress through phone calls and writing notes down on paper… it can actually all be done and tracked seamlessly through the power of CMMS. The ultimate dream of bloggers, affiliate marketers, and business owners is to be able to run their business and day to day operations from anywhere. Having access to an application that brings all of your daily tools and applications together is one of the best ways to move towards that goal

With more people using their mobile devices to run their business and check for updates, a mobile-powered CMMS can help anyone get more work done.

The Treasure Chest of an Entrepreneur is Always Growing!

As you can imagine, every entrepreneur and site/business owner likely has their own preferred set of tools and methods for running their own business. Today I’ve listed just a few of my favorite tools and methods for improving your day to day operations. While I’ve only scratched the surface, I’ll keep updating this article and resource as I find more time.

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Entrepreneurship

Why Online and Offline Real Estate are Always Great Investments

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No matter what profession you’ve chosen to go into, investing in real estate (both online and offline) is one of the best ways to safeguard your future financial security. You may be thinking, but I don’t know anything about investing. The good news is you don’t have to be a hotshot Wall Street professional to get started. Just like pretty much any type of investing or necessary further education requirements, you can learn all of the basics online.

The great thing about investing in real estate is that even making small investments can later provide big returns. While offline real estate and properties will likely cost thousands of dollars to start investing in, online properties (in the form of domain names) can cost as little as $10 to get started. In either case, there is plenty of time, work, and research required for each. Yes, people are making good money, but it would also be a huge mistake to think it’s easy.

To help with the thought process behind investing in offline and online properties, let’s take a look at some of the different investment options out there, and why it continues to be one of the best ROI business models out there.

It’s Reliable, and Property is Always in Demand

Since the dawn of the Great American Dream, real estate has been considered one of smartest long-term investments available. It’s also one of the biggest reasons young couples have long been advised to purchase a small starter home at the beginning of their marriage with the promise that after a few years they could sell at a profit and pad those retirement accounts. So while you may have never felt compelled to have that front yard and white picket fence, you might want to reconsider. Also be sure to consider your home locations, as you never know when the unexpected might happen!

Economic tides will continue to ebb and flow, but property values tend to almost always increase over time, regardless of the market. Why? Because people will always need shelter, so why not kill two birds with one stone? Shelter wrapped up in an investment is pretty much a win-win.  Additionally, while new companies and brands come and go, housing will always remain a necessity, even if there are slight dips in the market.

Taking all of these perspectives and focusing them towards online real estate and domain names, you have even more limitations and value in what you may own. Think of .com, .net, and .org domains as the premium houses of the world. When you get a generic one-word domain, think of it as the most expensive and valuable house in the state! Some domain names will go on to sell for millions of dollars, but it’s extremely rare and unlikely.

You Don’t Need Trade Floor Skills

It’s true that understanding stock market investments can take years of knowledge and practice, but real estate isn’t nearly as complex. Yes, it will require some research, and you’ll have to do a considerable amount of evaluation, but there’s not nearly as much guesswork and volatility with property compared to investing in the latest and greatest trends, like cryptocurrency. Really, it all boils down to figuring out what the real estate market looks like in your area as well as what’s available and it’s quality. Start by visiting open houses and auctions. Connect with others who’ve made property investments and read as much as you can on the topic.

When buying or selling a home, you can go through a realtor. The same holds true for buying and selling domain names online — except it’s often done through a domain broker. Just like realtors, a domain broker is going to do most of the work for you, as they likely have many connections and potential buyers or sellers in place. At the same time, you will also have to pay a percentage (usually 10-30%) for their efforts and success rates.

Go Big, or Go Small — All Options are Available

If you’re interested in buying a home, considering buying a rental property instead. And don’t worry, if do decide to invest in a rental it doesn’t mean you have to actually manage the property yourself.  You may decide to hire a property management company to oversee the daily operations. A manager can screen tenants, collect rent payments and show the property to interested parties. Or you may decide to manage the property yourself and function as a landlord. However, if the latter is the case and you don’t have any property management experience, you may want to seek out some advice and tips for new landlords.

This same concept is happening daily in the world of domain names as well. With domain brokers like GreatDomains, NameJet, Pool, and others, sometimes domain names can sell for five, six, or even seven figures. In most cases, these domains will be purchased outright and paid in advance. However, there are times when it makes sense to sell domains at a faster rate and offer a payment plan, which allows for more buyers to take action.

The Internet is Your Ally

Another reason there’s no better time to invest in real estate is the sole factor of technology.  Whether it’s the topic of buying, selling or managing real estate the sheer amount of resources you have at your disposal is mind-blowing. With just the click of a button, you can research and make an appointment with experts, realtors, property management companies, and home inspectors (a must before making any purchases). There are also hundreds if not thousands of threads on what you should know before investing, not to mention the added benefit of social media. Gone are the days of taking out a newspaper ad. So if you’re looking to strategically buy and sell to see returns, platforms such as Facebook, and even Craigslist, can provide additional marketing support to get your real estate listings seen.

When it comes to buying and selling domain names, the internet is your bread and butter — in fact, it’s kind of your only option! The good news is that there is a whole world of resources out there, domain expiration services, auction marketplaces to buy and sell domains, and much more. Take advantage of everything the internet has to offer in reference to learning more about buying and selling domain names or site properties, then get ready to make your first move!

It Can Be Tax Deductible

While tax codes allow for a range of deductions, including everything from the interest on your mortgage and money spent on renovation to a range of upkeep and maintenance costs, they do vary by state. You’ll want to investigate, or even consult with an accountant in your area, but in general, most rental property expenses can be written off as business expenses.

If you currently have an online business and are investing in domain names, this would definitely fall under the realm of a write-off (investment/cost) for the business. Of course, if you were to sell the domain name for big money, that would also funnel back into the business and eventually be taxed the same as any other incoming revenue.

Investing in the Offline and Online World of Property and Real Estate

No matter what type of property you are looking to invest in, always be sure to put in the time and effort to completely understand what you are getting into. If it seems too good to be true, it probably is. Finding that killer domain name on a GoDaddy or NameCheap search and getting it for $10!… Yea, that’s probably a perfect example of ‘too good to be true‘.

At the same time, you may feel hesitant about shelling out the dollars, but if you do your research and select carefully, the financial benefits can be great. The more comfortable you get with the idea of planning out your investments and taking action, the more likely you are to find success in the long run.

However, like most great investments it’ll take dedication and work on your end so don’t hesitate to seek support and get your questions answered!

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Entrepreneurship

5 Ways to Make Real Money with Legalized Sports Betting

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With sports betting now on its way to being completely legalized throughout the United States, this is going to be a huge opportunity for anyone looking to make some serious money. Of course, most people are immediately thinking of how they can make money by actually betting on games and putting their sports expertise to use. However, this is still unlikely for the average person to accomplish and there are better ways to make money, such as being an information source or business, versus being a player in the system.

Today we are going to look at five different ways you can actually start making some serious money through the use of legalized sports betting. These methods will consist of everything from starting your own website, putting your expertise to use, and of course everyone’s favorite… affiliate marketing.

Billions of dollars will be generated through the use of legalized sports betting in the coming years, so make sure you jump into this space as soon as possible so you can get a head start over the coming competition.

Start an Affiliate Rating/Directory Site

Whenever something new and exciting comes into play, the majority of people are going to search Google for information and how to get started. This is something we have already seen in the cryptocurrency space and people wanting to jump invest and make money with Bitcoin. The same will happen with legalized sports betting and how people can start placing bets online.

A quick search on SEMRush for “how to bet on sports” will give you just a taste of the volume and wide range of search option that will soon rapidly expand in size. The only question here is, will these users find your site, or your competition?

For anyone interested in making money through this method, affiliate marketing and creating a rating or directory site of top places to make bets online would be ideal. While it is pretty easy to create a website or blog, the main obstacle here will be getting traffic to your website. Since there is already massive competition in this space and advertisers with a ton of money, you will need to look at other options besides pay-per-click marketing and other methods commonly being used. The more creative and value-driven you can get with your content and marketing, the better.

The benefit of creating an affiliate site is that you don’t have to deal with any of the customers or actually place any orders or bets. Your site will earn a commission every time a new player is referred to another site, and often these commissions are in the $100 plus range. Another benefit of promoting such offers is that there are usually large initial deposit bonuses which can increase your conversions heavily.

Launch Your Own Sports Betting Course

Sticking with the theme of the previous point, many people are going to want to learn how to place sports bets of their own. Unlike in a casino where you just walk up to a table and can place a bet (without having an idea of how to play), in sports betting there are a lot more advanced and different ways to place a bet. The more you know and understand this, the better your odds of winning.

With so many people looking up this information, it will provide a whole new audience an opportunity for people to make money. If you already know what you are doing in the world of sports betting and have some experience, you could easily create an online course of your own that not only walks the user through how to make the best bets on their favorite sports teams, you could also show them how to sign up for online sights and placing bets on video as well.

To see a few examples of online sports betting courses that are already working pretty well, just head over to Clickbank and search through their affiliate marketplace.

While looking through the different offers on their site, also consider your options with expanding to affiliate marketing as a merchant. Once you have a proven product or service to offer, you could drastically expand your business and reach by paying a commission to affiliates in order to promote your product — much like we covered in the previous point.

In addition to creating your own product and making a higher profit margin on each sale, another benefit here is that you could potentially create your own brand, mailing list, and following in the process.

Monetize an Existing Sports Blog

Sports blogging is one of the most active and competitive spaces on the internet today. There has always been an active discussion on how to best make money with a sports blog, as its one of the hardest things to monetize because of it’s audience type. Most people are visiting these sites to get scores and highlights, not to buy something.

However, with legalized sports betting now coming into play this might be an easier niche market to monetize thanks to global interest in sports, and online betting. Is it only a matter of time before we see a sports betting section added to ESPN and also seeing ‘place your bet’ ads throughout the site?

Again, the benefit here is that you can run a sports website the same as you always intended, but now you can integrate affiliate marketing and promoting relevant content to your audience in the process. Unlike selling individual game tickets, memorabilia, or collectibles, when promoting sports betting ads or affiliate offers on your site, this is something that could potentially relate to all audiences on a global scale, while also offering a much higher revenue in the process.

Create a Sports Betting Focused Agency

As we’ve already pointed out several times through this article, there is going to be a massive amount of money pouring into this space over the next several months and years. With that in mind, you don’t necessarily have to have a sports betting focused business to make money — At least, targeted towards recruiting players and having your own product.

To get your entrepreneur mind and financial dreams moving in the right direction, look no further than the latest figures out of Nevada, and how they’ve just recently surpassed all previous revenue expectations in reference to their sportsbooks earnings. Not only is big money being made/spent, it’s also going to be focused on advertising and reaching new audiences as well.

With an always growing demand for new advertising and leads to be generated, this means there is a larger need for online marketing companies and agencies as well. I’m sure many of my readers already have an expertise in SEO or social media and other creative ways to market a business, which could make this opportunity right up their alley.

Taking these same talents and practices, you could actually start an agency that is focused on just promoting online sports betting and charge a higher premium. Instead of just being a ‘marketing agency’, become a ‘sports betting marketing agency’.

Build Your Own Blog, Brand & Podcast

Combining each of the practices mentioned above, one of the best ways to take advantage of legalized sports betting is to actually build a blog, brand, or even a podcast of your own. The more ownership and authority you have within a niche market, the more opportunity you will have overtime.

We’ve already seen some explosive growth in the world of podcasting over the past several years. With several sports betting podcasts already out there, it’s not a matter of how many are available, but also which are the best and can make a grand following for themselves. If you think the market is already too saturated — it’s not. Thousands of people are listening to podcasts for the first time daily, and this will only increase as legalized sports betting makes its way across the country.

Again, this all goes back to if sports betting is something you are passionate about and have an expertise for. Starting a blog or website is one thing, but a podcast is another. Without the necessary funds to push your brand or service to the masses, these platforms will all take time to grow if you are only focusing on word-of-mouth and organic results.

However, with all of that being said — if you have a proven track record for selecting winning teams while also making a profit consistently, this is something that could definitely help improve your reach, brand, and authority over time.

The Business of Sports Betting is Here to Stay

With the legalization of sports betting now in play, billions of dollars will be generated on an annual basis. It’s not just the casinos and bet takers that are going to be making money, it’s also the professional sports associations, state taxes, and everyone in between. The only real people who are potentially not going to make money in all of this, are the players.

I actually just had the opportunity to visit the Borgata in Atlantic City and place my first legal sports bet in their casino. It was a simple $50 bet for the Lakers to win the 2019 NBA Finals and pays 6-1. It was quite a fun experience and I can see how this industry is just going to explode with new opportunity and revenue growth!

If sports betting is something that you would love to start a business around, you need to take the time to consider each of the options above and create something that will continue to generate revenue for the years to come.

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Hi, I’m Zac Johnson

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