Going for Broke When Trying to Make it Shark Tank Edition

How often do you see those who cry about being in debt and they are coming up with one business idea after the next? Well there are positive stories that have glorified endings on the Shark Tank but in reality those who go for the gold rarely end up getting it.

At work you may hear the salesmen next to year saying God bless you and coming up with new doggy day care business ideas after he came up with the other 15 business ideas. The problem with the guy is that he is filled with ideas but cannot rub two nickels together. If you want to go for broke that is not the issue. The thing is you need to build up a sound financial standing before trying to attempt these things. If you are stuck with the power off because you haven’t paid your Constellation Energy Bill you can not go around spitting out ideas for business thinking your on to something. Nobody will take you seriously if you haven’t had a proof of concept in life or in business.

There are ways to raise money that can help you to get ahead. If you play scratch offs and the lottery you can sell your winnings off for a lump sum to a company like 123lump sum alternatively these type of companies also give you inheritance loans against your “rich” uncle or personal structured settlement injury annuity that a lot of those in debt tend to have. You can take out a loan against your future paycheck but this is always detrimental and we have never ever heard a success story.

The best solution is sound financial savings, hard work even if that means taking a second job if you need to do that to ensure survival and to build up your savings. To build a business and make a run for a Shark Tank appearance involves willing to go broke and deeply into debt but you need to establish a base to get there.

Leave a Reply

Your email address will not be published.