How to start a business leveraging credit? Did you know or did you think cash was king?
Oh, no, baby. Cash is not king. Credit is king because credit can be turned into
cash. That's what I did and I'm going to show you exactly how you can do it too. Let's go.
In this video, I'm going to share with you and tell you how to know if leveraging credit is right
for you and your business. I'm going to share with you 5 easy steps to get this done in less than a
day. And last but not least, I'm going to share with you a dirty little secret on what my students
are doing to start their business and quit their jobs even faster. There are so many benefits to
being an entrepreneur having your own business and being the person that is a business owner,
okay? Not just someone that works in a business but truly someone that owns a business and runs
a business. Now, there's so many different types of entrepreneurs because some of us like to really
work in our businesses, some of us like to build a business and then sell it. But there are so
many benefits because as a entrepreneur, you get to dictate what it is that you are going to make
and what it is that you are going to do. You get to create a business where you sell the service
or the product that you decide. You get to charge as much or as little as you want for your product
or service. Meaning, your income is basically unlimited as an entrepreneur. I make way more
money than I ever did as a working corporate person. When I worked in corporate America and
I had these great jobs, I made 6 figures. I did. I made lots of money. I started off small. You know,
$30,000 a year. And when I stopped working, I was making over $200,000 a year from my job. But when
I quit and I started working in my own business, within one year, I had doubled my income from my
job and now I make millions. So, the bottom line to it is: Yes, jobs can provide you income. Yes,
jobs can provide you money that comes in each week. But a job will limit your income. There is
a limit to how much money you can make working for someone else. When you work for yourself,, there
is no limit. You can make 100,000, you can make $100,000 a month, you can make $100,000 in a day,
okay? I have done these things. There is no limit. But if you have a job, you may have to
ask for a raise or get overtime or maybe go to a different department or ask for a promotion.
There are definitely things that you can do in a job to make more money. But to me, being an
entrepreneur creates way more opportunities for me to have the money that I want and to own my time.
That is so important. And to me, that is the most important thing about being an entrepreneur.
I want to be able to decide when I start working when I stop working,
which clients I take, if I work on the weekends, if I don't work on the weekends.
I dictate when I work because it's my business. When you get your own business, you get to do that
too. So, I love being an entrepreneur. So, let me tell you how you can do this with no money,
just using your credit. So, step 1, to starting a business and using credit to leverage this.
You want to know what your personal credit score is. I know. There's no real way around this. But
it's step 1 is you have to know where you stand credit-wise. How much money can you borrow? So,
that's going to start with your credit report. One of the things that people just fail to do and so
many times they just think, "I have bad credit" or "I don't have good credit" or "I don't have enough
credit". We always think that we have this credit situation that is going to be holding us back.
And even if that's the case where you know for a fact you have bad credit, you can fix
that and you can turn that around. But the step one that you have to have and we all start is
knowing what our credit score is and what our credit situation is. You're going to have to
pull your credit, you're going to have to look at your expenses, and you're going to look at
how much money you make. Those 3 things are going to be the most important things to getting credit
and being able to borrow money for your business. So, let's talk about if you have a decent credit
score. We're not going to talk about those people with us like me with the 800 credit scores now.
Let's talk about the old me that used to have really bad credit and then we'll even talk about
regular me before I was me now who had medium credit because I feel like that's probably where
you are and you can get a lot done with bad or medium credit. You do not need perfect credit.
Obviously, you have perfect credit, you can just skip to the end of this video because you already
have a great credit score and you'll be able to just start your business. But if you have
bad credit or medium credit, keep listening, I'm gonna keep going for you. So, step 2, when you are
leveraging credit to build your business, you are going to have to borrow money when you don't need
it. I know this sounds crazy. I know I was just telling you that you're just going to the first
thing you're going to do is just look at your credit situation. And many of you probably thought
the second thing that I was going to tell you was to fix your credit but that is not what I'm going
to tell you to do. This is not about fixing your credit or trying to get a perfect credit score
and then starting a business. That is the absolute wrong way to do it. So many people (listen to me)
think that they cannot start a business or they cannot be a successful entrepreneur because they
have bad credit. This is not the case. Your credit does not matter about you as an entrepreneur.
Yes, it will probably be an obstacle as you try to borrow money. But you can borrow money with
bad credit or with good credit. The bottom line to it is though you are going to have to borrow
when you don't need it. If you are in dire straits, you're behind on your rent,
and you're losing your car, and all of your things are about to be taken away from you;
then you do need it, okay? You are not someone that they are going to lend to. That's not what
I'm talking about. I'm just saying you don't really need anything. Maybe you have a job and
you don't have great credit. But you do not need money. You just want to have some money so that
you can use it to start your business. You are not in dire straits, okay? If you are in dire straits,
you're not going to be able to borrow money. You need to borrow money when you don't need it, okay?
So, even if you have just for example a decent credit score, maybe you just have a 620. You know,
this is not a great credit score at all but it is enough to get you funded. You're going to
start getting credit cards, you're going to start getting lines of credit, you're going to start
getting loans. Whatever you can get with your credit, however much money they will lend you,
you will apply and get that money. This is important. If they are willing to lend to you
and you have the intention of using that money to start your business, you're going to be okay. I'll
give you some steps to do. But please know you are going to borrow money and owe money even if you
don't need it. And that is the best time to borrow money. Step 3, do not quit your job. Like I said,
I know I'm telling you how to leverage credit while building a business.
And this is super important. Do not quit your job. If you are building your business and you
already have a job or whatever it is that you do that brings in income, do not just stop that and
start doing this business because you got some credit cards or some lines of credit. You need
to keep working that job or doing whatever it is that you do to bring an income so that you
do have the money to pay the minimum amounts on those loans and credit cards that you have.
Now, I know this is going to be a little bit difficult. But listen, I was going to school,
I was a mom. I had a full-time job, I went to school. I did a lot of things at the same time
and you can too. So, I don't want to hear anything about that you can't you know work your job and
build your business because that's what I did. And I had a ton more going on than you probably do.
But do not quit that job. Know that you're going to need to make the minimum payments on the loans,
the credit cards, and the lines of credit that you get while you're building your business. So,
keep that job. I'll tell you when you can quit. The next step you need to get a business checking
account. This is so important. You want to get a business checking account. So,
you're going to have to actually have a business. So, if you don't know how to set up a business,
I'm not going to be able to go over that in this video. Please check out my links on how to build a
business. I will make sure to put a link in the corner and in the description box for you. So,
you have to actually have a business before you get a business checking account. So,
make sure you have those things set up and then go to your local bank. You can go to
whatever bank that you choose. I'm not sponsored by any. This video is not sponsored by any bank.
But I do like NorthOne bank. For example, they're a bank that is virtual that you can get a business
checking account without leaving your home. And you can get it set up in as little as 3 minutes.
So, business checking account is super important to this whole plan because it will help you get
additional funding. Once you're able to get that business checking account set up and again you can
get a business checking account in one day, you go get the business account set up, you'll make
a deposit when you open the account and then you will periodically make deposits into that account.
You need to have 3 months of showing consistent deposits into your business checking account so
that you can get loans and funds and other things like that in your business's name. Additionally,
by doing this, you will be able to start building business credit and building situation where you
can borrow in your business's name and you do not have to rely on your personal credit. So,
those credit cards that you may have gotten to get this business going, you are eventually going to
transfer those personal credit cards into your business's name when you get business credit
cards. And I tell you exactly how to get that done too. So, just know that you want to get
a business checking account and start making deposits into that business checking account
on a regular basis. Next step is you want to take the money that you got from those lines of credit,
those credit cards or those lines of credit whatever it is that the money that you borrowed
even if it's just a small credit card and you want to start buying products and services either if
you need inventory or you want to use that money for marketing. You want to get you some ads, you
want to get you some letters, you want to get you some business cards, some t-shirts. Whatever it is
that you use to market your business, that is the first thing that you want to do with that money.
I know many people think that they should do other things with the money. But the first and
only thing that you want to do with that money is start drumming up business, okay? Even sometimes I
would say even use that to get advertising and marketing before even buying your inventory.
So, many people buy a bunch of inventory and then they don't have any money to market it.
And marketing and advertising are the key things to your business. They are the most important
thing. If no one knows you exist you don't have a business. You don't even need inventory if no
one knows about it. I literally have been able to sell things I don't even have yet. For example, my
book. I pre-sold thousands of copies of it before it was even published. Okay? I had already written
it and we were waiting for it to be printed from the publishing company and we started selling it
because I had money to market and tell people about it. So, marketing and advertising is the
key to what you want to do with the money that you borrow. Especially if you're leveraging credit.
Because this is money that you have to pay back. So, you want to put it to the best use possible so
that you can start getting an immediate return on your investment. The last step is you need to pay
your bills on time. Now that you have those credit cards, those lines of credits or those loans that
you're using to get advertising or inventory for your business, you want to make sure you are
making every single payment on time. If you cannot make a full payment, call them up and let them
know. Many cases they can defer a payment without it affecting your credit. The last thing that you
want to do and I please, please, please listen to me. I've seen so many people make this mistake.
You do not want to pay late or default as soon as you start getting those loans. This is very easy
to just make the minimum payment and then be able to get even more money. This will help you grow
your business so much faster. For example, say you get a credit card with just $1,000 on it and you
just maybe run 100 or 200 dollars worth of ads. And you get one or 2 customers. That is okay. That
is a great for a business. All you need to do is make sure you're making those minimum payments on
that 1,000-dollar credit card so that in 6 months, you can call them up and they can increase it.
In most cases,, if you keep your credit together and you call the bank up, the credit card company,
the loan company; they will give you a higher amount. Especially credit cards. You will easily
get your limits increased if you pay on time. So, make sure that you're making at least the minimum
payment. Of course, you want to make more than the minimum payment. That's always suggested,
okay? I have great credit. So, I'm going to tell you the right thing to do. But at the very
minimum, you must make your payment on time and you never ever should skip a payment. If you have
a financial situation, make sure you communicate you call them. And in many cases, they can get
the payment deferred without affecting your credit. So, don't pay late or miss a payment. I
have created an entire training, an entire course that I'm giving away to you absolutely free. Go
to noellesfreetraining.com and check out my brand new course where I am teaching you how to invest
in real estate with little to no money and without a lot of risk. I want to make sure that you can do
this and start to have these same successes that I have. Go to noellesfreetraining.com and make sure
that you get this training before it gets taken down. That's Noelle (n-o-e-l-l-e with an s),
noellesfreetraining.com. I just want to make sure that you have all of the resources, all of the
tools, and all of the knowledge that you need to be successful. This is Noelle. To your success.