New for 2008: You can be a millionaire in 90 days with no money down and get a free government check to start. Do you want to know how?
If you have been following this series on how to start a business, then I know you wouldn't fall for such baloney. If there's one thing I want to emphasize, it is that starting a business isn't easy.
My intent, however, isn't to discourage you, but rather to arm you with the tools you'll need to launch a business and succeed.
It is important to face the facts when starting a business. You've all seen the television and print ads that promise ''Get Rich Quick,'' ''No Money Down'' or ''Free Government Money.'' You might get rich quick, but you're more likely to get broke quick and wind up wasting not only your money but your time.
Such advertised schemes deny the reality that it takes time to build a business. You must develop your client base and contacts over a period of time. These get-rich-quick programs also deny the planning and research needed to start a business. A one-size- fits-all program will not work everywhere. Even McDonald's has to adapt to the markets in which it operates.
The only folks who get rich quick either win the lottery or receive an inheritance. To be exact, getting rich implies an effort on your part, and winning the lottery or receiving an inheritance requires no effort. Where is the entrepreneurial fun in that?
The programs that promise to get you into business without any money down neglect the fact that you must pay for the program so you can learn how to get into business with no money down. The last time I checked, it did cost money to start a business, even a business that is run from your home.
Your business cards will cost money; your licenses will cost money. I'm sure you get the picture.
The next time someone promises you a no-money-down strategy, ask them to send you the program free of charge and with no shipping costs. Tell them when you start making money, you promise to pay them.
The United States of America is a fantastic country offering not only opportunity but also freedom of speech, assembly and religion. You are also free to open a business, which in many other countries is an unattainable dream for many. Here you are also free to become wildly successful and rich or dirt-poor broke with your business.
You can imagine my surprise when I learned that not only do we have all of the above advantages and rights, but we also have a government that gives away money to start a business to just about anyone with a pulse. Does it sound too good to be true? Of course it does.
The reality is that the U.S. government does have programs that fund some business activities. However, it is naive to think that the money would be given to someone who didn't at least demonstrate the public good their venture would serve or the strategic advantage it would provide for the country. In addition, government funding programs also have strict guidelines and serious reporting rules that must be followed.
Let's leave the grants to the nonprofits and make our money the old-fashioned way by earning it.
Happy New Year, and Success in Business!
Launch Pad Part V: Financing myths