Ways To Fund Your Inspiration & Make It A Reality
There is inspiration around us constantly. Whether it is being inspired by your instagram feed, browsing Pinterest, reading magazines or even just walking past someone in the street or talking to friends and family, there are plenty of ways to stay motivated and inspired. However, how often do we act on that inspiration?
I
for one feel inspired on a daily basis, however I am really guilty for not
always acting on my inspiration. This is especially true when it comes to
travel. I follow so many amazing travel bloggers on Instagram and frequently
read their blog posts, wishing that I could do what they do.
I
think that it is so easy to dismiss our inspiration and turn it into a
daydream. To push it to one side and blame things like money and time, as a
reason for not acting on what inspires us.
Keep
reading to find out a few different ways to fund whatever it is that has
inspired you lately. Whether it is a new travel adventure, a business idea or
to help you get that dream home.
Dig into your emergency savings
Whether
it’s a savings account that has plenty of money, a secret stash of bank notes
that you’ve kept under the bed or even access to poor credit homeowner
loans, dig into your savings if you’ve inspired
yourself to think of an idea that no one has done before. You might think that
loans are questionable because you’re borrowing money you can’t own, but there
is such a thing as good and bad debt.
Good
debt is when you invest your money and potentially fall into debt for the sake
of growing something. For example, taking out a loan to start a business is fairly
normal, and the return you get is often enough to pay back the loan you took
within a few shorts months. Of course, the business idea you develop plays a
huge role in the success of your project, but there’s a fairly high chance that
you will be able to recuperate losses and claw out of debt quickly if you plan
ahead.
Bad debt
is characterised by having little to no long-term benefit. For example, taking
out a loan to buy video games is a terrible idea because those games typically
won’t return money to you unless you sell them. Bad debts are often seen as
greedy debts, so it’s best to avoid these and focus on good debts such as
student loans and mortgages—both of which are common in life.
Crowdfunding for your business ideas
If
you’ve decided to put together a business plan, then you need to convince
investors or business partners to help fund your idea. Unfortunately, this can
be difficult especially if the investors are being tough to work with. No
matter how intricate or detailed your plan is, there’s always going to be
problems that remain undetected,
A
far better solution to fund an inspired business
idea is to use crowdfunding. Crowdfunding
allows you to connect directly with your intended audience over internet-based
platforms. You’ll need to present a sample or prototype before you attract
attention, but the campaign itself can be a huge help in getting you the right
funding for your business ideas. It’s also common to offer project incentives
that seek to convince your audience.
Keep
in mind that crowdfunding can have some serious drawbacks. For example, if you
don’t deliver on your promises, don’t show continued progress or even leave the
project entirely, then your customers will be incredibly frustrated and will
demand to see your progress.
Work with a partner
Starting
a company or project with partners is becoming increasingly common. However,
you need to trust your partner before you do business with them. If you believe
that you’ve got a fantastic idea in the works and a partner that is capable of
funding you, then you could go on to create something special without feeling
like you’re working for someone else.
Grabbing
yourself a partner can be quite troublesome if their attitude and mood don’t
fit with you, but it’s one of the quickest ways to start a business especially
if they’re able to provide you with the money and other resources required.
If
you’ve inspired yourself with unique ideas, then find a way to fund your
inspiration to create something out of them. Whether you fund it with your own
emergency funds, a loan, a crowdfunding campaign or even by contacting a
business partner, you should never let your good ideas go to waste. Always
explore them and look for ways to refine and improve your charisma.
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