Funding is one of the primary concerns when launching any startup, as oftentimes a business needs capital to facilitate initial investments and continue operating while momentum and clientele are being built. Although crowdfunding, pitching to investors, applying for loans, and utilizing credit are all options to consider, it’s best to be financially stable and equipped to deal with challenges without having to put yourself head over heels in debt in the process. The responsibilities of managing a company are burdensome enough without the stress of worrying about where funding is going to come from. With that said, here are three career options that are great for raising startup capital in the long-term:
A good job for an entrepreneur is one with flexible work hours and plenty of time off. Most nurses work long shifts but only work four days per week. That leaves you with three free days to devote to your own endeavors, and with high starting wages and overtime pay you’ll have big paychecks to invest in whatever your startup needs. Plus, online nursing programs like the one at the University of Cincinnati allow you to study for your degree remotely anywhere there’s an internet connection. Furthermore, you can use a nursing degree to get a job in just about any major city, so regardless of where you plan on launching your startup, having a masters degree in nursing will put you in a position to earn a decent income wherever you go.
2. Sales Management
Every type of business can benefit from making more sales, and since the average sales manager makes more than $100,000 per year, you’ll not only have plenty of money to spend you’ll also have the experience needed to boost your own company’s sales. Eventually you can transition into only managing and spearheading your own businesses, but in the beginning, you can use your position as a sales manager to your advantage by investing your income and knowledge into endeavors. With the expertise needed to facilitate a high conversion rate and the funds needed to keep a business well-equipped, a job as a sales manager is another perfect fit for any aspiring entrepreneur.
3. Real Estate
Becoming a real estate agent or investing in a small rental property is a great way to leisurely support yourself and pay for startup expenses using your commissions and/or rent money. The great thing about real estate is that it provides that opportunity to earn both residual income and large lump sums at once, so with enough work ethic you’ll be on your way to making significant investments and covering operating expenses without having to work laboriously every day. Commercial real estate is particularly profitable and can generate the type of funds needed to really make a competitive entry into most industries.
Keeping Your Long-Term Goals in Mind
In closing, it can be easy to let your journey to earning startup capital distract you from the real goal of launching a successful business. Try to keep your plan in mind as you advance in your career in order to avoid being caught in a long-term lifestyle commitment that was originally supposed to just be an ends to a means.