Ideas can often be paralyzing. There are three reasons why people don’t act immediately when they have the desire to create something new. Reasons being they are afraid, don’t think that they can afford the financial ramifications that may arise as a result, or don’t know where to start when it comes to funding their dream.
As a Dreamer myself, I know what it means to be on the brink of a breakthrough. A breakthrough where you’ve finally found the final piece of the puzzle that will help you launch that brand, open that store, or write that book, only to have your bank account tap you on the shoulder and remind you that you ain’t balling like this idea may have you to believe yourself to be.
However, with a little faith paired with some creative thinking/dreaming, we have within us this innate ability to bring our dreams to life. Many people will say that one of the main things holding them back would be money, followed closely by time. Ideas come with a price, and if you’re on a fixed income, or living on a strict budget due to other adult responsibilities funding your next venture may not be at the top of your list. So, while you may not be trying to do it all, you’re probably wondering how in the world can you even do some of it?
Three Steps to take towards Funding Your Dream
First, start by setting a launch date and then breaking your vision down into mentally manageable pieces. While it may cost you $50,000 to open a book store back home in your community, that doesn’t mean you have to only focus on saving $50K immediately. Ask yourself what the process will be for opening this bookstore and make a list of everything that needs to be done.
Next, choose an item from the list to tackle. Some line items won’t cost you a thing, like researching funding, applying for small business grants, networking, brainstorming your design idea, etc., and some will. For the ones associated with a cost determine the dollar amount, it will take to achieve that line item and then create a plan and open a sinking fund for saving up the money. Let’s continue with the book store example. Something like this is a huge undertaking, and there are going to be several moving pieces that need addressing so, let’s start with something simple. To open your book store, you may need to move back to your hometown so that you’re available to make sure everything goes as planned — research and record how much it would cost to relocate. This line item would not online include the cost of moving, but also rent and other living necessities. Plan out how much you want to spend on rent per month and calculate the amount you’ll need for at least six months. You can do this for every expense you foresee incurring while working towards opening your store.
Lastly, hustle to save up those amounts. Once you finish an item, move to the next on your list. Keep in mind that you don’t need to cross every action item off your list before bringing your dream to life.
Smaller, mentally manageable task break your goal of opening a bookstore in your hometown into something doable instead of avoidable. You’re no longer focused on it costing $50,000, and instead, you’re focused on completing each line item on your list. You can apply this practice to other areas of your life, even your debt (as I’ll explain in a later post) to make life just a bit easier to manage.
How have you worked past funding your dream with limited resources or on a strict budget? Comment below or continue the conversation with me on Instagram or Facebook
