How I Started 3 Businesses Without a Loan or a Dime of My Own Money

In our recent SCORE webinar - Funding Your Business Without a Loan, Alternative Funding Options - I shared a lot of creative ways to get the money you need to start or grow a business even if you have bad credit, no savings, or don’t want to take on additional debt.

Today, I want to share a couple of personal stories with you because I have been there and I want you to see just how possible it really is.

1. Strauss Law Firm

When I got fired from my first job as a lawyer, I was thrilled because I was finally going to somehow start my own business, my own law firm.

Problem was, I had bad credit at the time (I was not long out of law school and my debt was quite high) and so I didn’t know what to do.

That was when I discovered the magic of OPM - Other People’s Money. 

We have an old family friend, a very successful attorney, and I went to him to get his advice (and maybe some financial help!) In fact he did offer to give me enough money to get started.

It wasn’t a lot, but it was enough to change my life.

2. Real Estate Rental

A few years later, I found a house that had been on the market for a long time. I wanted to buy it and rent it out.

While my credit was better, I didn’t have enough for a down payment. But again, I got creative and OPM came to the rescue. I worked out a deal with the owner where she carried the loan herself.

I paid her directly. No bank. No credit check. Just creativity and a win-win deal.

I’ve since learned you can buy businesses the same way, with no money down.

3. TheSelfEmployed.com (Sold to Mark Cuban / Zen Business)

I started this business too without any of my own money or a bank loan.

How? I partnered with someone who believed in the idea and funded it. My team and I did the work, and we split the equity.

Simple. Smart. Scrappy.

And this one changed my life too.

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If you would like my help changing your life this way, tomorrow I’ll share something I’ve been working on for people like us.

If you’ve been told no, if you are ready to get the money you deserve to start or grow your business, I think you’ll be glad you hear what I have in store for us.

Stay tuned!

Steve

P.S. Founding members get something special.