Make a Plan to Start a Business
LevelUp is a product of Magnifi Communities and is affiliated with Magnifi via common ownership. Magnifi Communities has an incentive to promote Magnifi.
About 20% of small businesses fail within their first year (LendingTree). If you’re an aspiring entrepreneur, that’s good news. And it has nothing to do with weeding out the competition.
It’s all about what you get when you don’t get what you want- experience.
You can do it the hard way: start a business, get hit with a ton problems, solve some but get overwhelmed by others, and leave your business with no revenue but a valuable learning experience. Tons of successful entrepreneurs have failed and then succeeded according to this blueprint.
But why learn from your own mistakes when you can save yourself the headache and learn from the failures of others. Here’s what we mean:
According to Investopedia, the #1 reason why small businesses fail is due to a lack of sufficient financing. That’s why financing should be your #1 priority when making a plan for your small business. It’s also why we’ve put together an entire guide on how to use Magnifi to make a small business fund.
How to use Magnifi's Small Business Fund Planner:
In 3 steps, Magnifi will build you a business savings plan so that you don’t have to rely on outside financing to set up shop.
- Answer Magnifi’s Questions
- Review your personalized feedback
- Choose a plan
That’s it. Welcome to the expedited world of AI finance. No holding with an assistant or digging up old documents; Magnifi uses the answers to your questions to develop a custom plan tailor made to your specific goals in seconds.
Click here to generate your own recommendations, or keep reading for a more detailed walkthrough
Answer Magnifi’s Questions
Magnifi just needs answers to 5 questions to build your plan.
- Your age
- How much startup cash you need
- When do you want to open your business
- How much have you already set aside (even if it’s $0)
- How much can you contribute every year?
Whether you’re on track to set up shop tomorrow, or need a substantial plan to reach your goal, Magnifi will give you an honest assessment.
Review Your Feedback
Before you can move forward with a plan, you’ll need a good idea of how close you are to your goal.
The questions in step 1 were specifically chosen to let Magnifi do most of the work for you. Take a moment to review your “progress report” and then you can move on to step 3.
Choose a plan
This is where Magnifi flexes its AI muscles.
In order to give you the best chance of reaching your goal, Magnifi will design an investment plan around a particular return schedule. You can select a specific option based on your risk tolerance.
The key here is Magnifi will give you options with higher returns than typical savings accounts; that’s how you reach your goal faster.
Experiment with more financial journeys
If you don’t want to wait to get started on your business fund, we won’t take up any more of your time. Just hit “Try it Today” above to start your free Magnifi trial.
But we also wanted to make sure you’re not missing out on any additional Magnifi features. Here’s a brief list of just a few of its built in tools. You’ll get access to each one when you sign up, plus anything you can think to ask. Share what you find with us!
Retirement Planning. According to PWC, 25% of US adults have no retirement savings. As a brand committed to independent personal finance, this stat speaks volumes about why we’re promoting Magnifi.
Magnifi’s “Plan your Retirement” journey will take you through a quick review of your current retirement pace. Based on your answers, you’ll get a customized plan on how to proceed.
Identify risks and opportunities within your investment portfolio. Magnifi offers secure plaid integration so that you can link your existing accounts to your profile.
Magnifi can then identify particular points of overexposure or sectors that deserve more attention. If nothing else, consider it a second pair of eyes on your investments- ones with a high degree of technical accuracy.
Fund comparison. Index funds are one of the most powerful tools in any investor’s portfolio. They offer immediate exposure to several different stocks within a given sector which makes diversifying your assets significantly easier.
With the right funds, you can expand your portfolio to include exposure to emerging markets, innovative tech stocks, and income focused assets.
Magnifi will tell you how funds stack up against each other and which ones you can purchase for exposure to a given sector. The graphic on the right demonstrates this process in detail.
Start expanding your personal finance playbook
Unlike other AI platforms, Magnifi has a fiduciary responsibility to provide the best possible financial insights. Ask it any question you can think of and receive immediate financial feedback.
If you’re not happy with the analysis, you can always cancel your free trial. We even have a money back guarantee in case you forget to cancel in time. No holding with customer service or lengthy requests; we’ll process the refund right away. We’re in the business of growing your money after all!
We’d also love to hear about any exciting features you discover as you explore Magnifi. Unlike traditional investment tools, AI research learns and optimizes at an accelerated rate which means there’s a chance you discover a feature we haven’t announced to the public yet! This means the AI is working and providing you with the top available options for optimizations; let us know what you find!
The most impactful feature of any AI has been its ability to automate the inefficient processes in task planning and execution. As personal finance experts, we know just how many of those inefficiencies exist when it comes to managing your own money. Try incorporating the first fiduciary responsible AI into your money process; you’ll be surprised at the impact.
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