Financing Options

Because new businesses usually need to borrow money in order to get off the ground, good financial management is particularly important to start-ups. Let's suppose that you're about to start up a company that you intend to run from your dorm room. You thought of the idea while rummaging through a pile of previously worn clothes to find something that wasn't about to get up and walk to the laundry all by itself. "Wouldn't it be great," you thought, "if there was an on-campus laundry service that would come and pick up my dirty clothes and bring them back to me washed and folded". Because you were also in the habit of running out of cash at inopportune times, you were highly motivated to start some sort of money-making enterprise, and the laundry service seemed to fit the bill (even though washing and folding clothes wasn't among your favorite activities - or skills).