4 answers
Johann KYLIANE Israël
Student
Bronxville, New York
1
Question
Asked
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Why to launch a business need so much money?
Why you need so much money to launch business and tools online cause now everything is almost in ai and to launch a business you need a lot why ?
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4 answers
Paul Goetzinger MPA
Academic and Career Consultant and Freelance Writer
745
Answers
Seattle, Washington
Updated
Paul’s Answer
Inflation
The price of doing business has increased substantially. Start-up costs, resources, supplies, transportation, employee costs, have all gone up in the past two years.
As a result, it takes much more capital and financing for business related operations.
The price of doing business has increased substantially. Start-up costs, resources, supplies, transportation, employee costs, have all gone up in the past two years.
As a result, it takes much more capital and financing for business related operations.
Brian Richardson
Cook
3
Answers
Hatch, UT
Updated
Brian’s Answer
Indeed, the age-old adage holds true: you need money to generate more money! Engage in short-term side jobs and save diligently for your grand vision. For instance, if your goal is to accumulate $10k and you're starting from scratch, it's essential to save and establish clear objectives. Gradually build your savings from small amounts to larger sums - that's the essence of financial growth and progress.
Thank you for giving me advice.
Johann KYLIANE Israël
Cristina Moreno
Americas Commercial Excellence Specialist
4
Answers
Vancouver, British Columbia, Canada
Updated
Cristina’s Answer
Hola Brian!
I would challenge you to think that you actually don't. Launching a business first asset, is an idea (ie. product that will solve a problem, need or want), then scalability... This might or not need investment, start small, use online free tools, test your idea, then as income comes you (re)invest.
It is a valid question, as this is the common understanding and knowledge we have been shared that we need lots of $$ to start, but reality is not. To expand, yes and maybe (it will vary with your product/idea/solution)
Think of a speaker / psychologist/ tshirt printing business/ food delivery / catering, the cost will vary per idea. But starting small and expanding might bring you great learnings firsts and then expand! Good luck!
I would challenge you to think that you actually don't. Launching a business first asset, is an idea (ie. product that will solve a problem, need or want), then scalability... This might or not need investment, start small, use online free tools, test your idea, then as income comes you (re)invest.
It is a valid question, as this is the common understanding and knowledge we have been shared that we need lots of $$ to start, but reality is not. To expand, yes and maybe (it will vary with your product/idea/solution)
Think of a speaker / psychologist/ tshirt printing business/ food delivery / catering, the cost will vary per idea. But starting small and expanding might bring you great learnings firsts and then expand! Good luck!
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
350
Answers
Spanish Fork, Utah
Updated
Katherine’s Answer
Depending on what your business is, you don't need capital to get started.
For helping you with continued polishing and planning for your own business, I recommend reading this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng) and also checking out Dave Ramsey's book EntreLeadership.
For helping you with continued polishing and planning for your own business, I recommend reading this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng) and also checking out Dave Ramsey's book EntreLeadership.