There are going to be many opportunities in a business where an organization, large or small, may have the opportunity to partner with another one to finalize a deal, secure production, or otherwise chase success. Such opportunities could be that which permanently establish your business, or you could go bankrupt.
Modern technology is both making business partnerships of this kind easier and more successful, or treacherous and more fraudulent. It all depends on the situation. For example, consider crowdsourcing. If you’re unfamiliar, crowdsourcing is a program by which individuals can get donations from others to underwrite their exploits.
This is a multi-billion-dollar industry that is revolutionizing investiture worldwide and made possible precisely because modern technology makes anonymous donation something which is reasonable to the source. Though you must meet a given goal to attain the funding required, such solutions can be helpful.
When you decide to go with a crowdsourced solution, options like Plumfund of PlumFund.com believe: “…no one should pay a fee to give and receive online, so we offer our service 100% free of charge.” You do have to be somewhat careful, however. Sometimes investment comes from a party who may expect something in return.
Anonymous Or Public?
Crowdsourcing isn’t exactly anonymous. The person who funds you may have their name hidden, but there are also incentivized rewards offered for different tiers of donation. So if you get a substantial donation, you can expect the individual may acquire an amount of sway. They may even represent potentially helpful corporate interests.
For crowdsourcing and other areas where large donations, financial assistance, mergers, or deals could be on the table, you want to ensure everything is “on the up-and-up”, as the saying goes. This can require doing an online search for a given business to ensure it is as represented.
If you’ve received crowdfunding assistance, this can help you find the level of seriousness with which you should approach the situation. Sometimes you don’t want to get involved with someone financially because it may mean they own the direction your new company will take. Sometimes the person is “shady.”
Especially in places like New York, you’ve got to be careful who you do business with. When conducting a New York corporation search, SecStates.com provides a service that allows you to search: “…any corporation or business entity in New York or Another State…and there is no charge to use it.”
Property And Business Sales
Something else that’s advisable pertaining to modern technology and business is the property angle. Generally, it’s a lot better to own than it is to rent. When you rent, you’re just throwing money away. When you own, you’re solidifying an investment you can divvy up if things don’t work how you’d like them to.
Build your own property, make it energy sustainable (which can give you tax breaks, cut out your utility bill, and if done correctly, increase property value), and use cost-effective construction techniques. You may be able to sell it if the business doesn’t pan out as expected, giving you a nest egg to invest in another venture later.
For those not familiar with owner-financed notes, they are defined by the site as: “…properties or businesses that have been sold privately, without the use of a traditional bank to lend the borrower/buyer money.” The internet allows you to sell your property or business.
To recap: with the internet today you can underwrite your business, obtain support when it’s necessary, double-check on the pedigree of those with whom you work, and sell operations if they don’t work out accordingly. All in all, the internet today represents an absolutely essential color of the burgeoning entrepreneur’s palate.