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If you are a new entrepreneur looking for sources of raising funds for your own new small business, then you have probably already faced the grind in finding some funding. You may have heard inspiring stories of budding entrepreneurs starting up their small business from their dingy basements to old rickety trucks, as offices. You have probably also heard of some of them taking up huge credit card loans just to get their ventures started. Their stories from rags to riches, and their lifestyle amidst rains of money may have fuelled many a small business aspirations. However, just inspiration with no backing of firm groundwork can result in extreme disappointments. This article will discuss some strategies that new small businesses can employ to find capital at a shoe-string budget.

* Finding your true passion in entrepreneurship

Some entrepreneurs find themselves transitioning through positions of lifelong serial entrepreneurship. They go from one business to another with time and age. Here, each business is in such a drastically different field than the other, or each business is so different in nature from another that the process can virtually be termed as transitioning across different careers. Many a times, across such careers, they experience failures, or are forced to drastically modify their plans to save that career. This is before giving up and moving on to starting another business, until such time that they find their true calling. This is where they display the gut and gumption to follow their true passion in that field to its very end, that is to say, till it meets with success.

Some strategies that will help you keep an edge over your competitors, and retain the long life of your business are to:

- Retain your monopoly over any innovativeness across any of your businesses for the sake of track record.

- Lay the firm conditions for owning the intellectual property rights on all the projects you build.

- Keep in mind, well in advance, to avoid any nasty surprises in future, that the plan your scripted in the beginning is never going to map with your final outcome.

- Know that you will get anywhere even remotely close to the plans that you initially set out to achieve, only if you have a great team, than having a great plan.

- Know that, in short, it is any day a better option, to arrange for a good pool of people to work on a mediocre project, than have a mediocre pool of people working on a spectacular plan.

* Accepting compromises to ease the pinch of

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