Raising Capital
February 21, 2014
So you've come up with an idea for a business? Congratulations! Now you need startup financing - that initial infusion of money needed to turn the idea into something tangible. And that's where it becomes tricky.
When you are just starting out, you're not at the point yet where a traditional lender or investor would be interested in you. So that leaves you with selling cherished assets, borrowing against your home, maxing out credit cards, dipping into a 401(k), and asking loved ones for loans. There is a lot of risk involved, including the risk of bankruptcy with your personal finances and soured relationships with friends and family.
This is the hard part behind starting a business -- putting so much at risk. But doing so is the rite of passage to both success and failure. It's what sets entrepreneurs apart from people who collect paychecks.A major key is to ramp up initial operations as quickly as possible to get to the point where outside investors can see and feel the venture, as well as understand that you took some risk getting it to that point.Some businesses can also be bootstrapped.
They can be built up quickly enough to make money without aid from investors who might otherwise come in and start calling the shots.With so much at risk, it is important to have a strong business plan in place, and to seek out advice from experienced entrepreneurs and experts -- people who might also invest in your business someday. Seek out local entrepreneurship advice programs.
One place to start looking is the SBA's website, which has a search engine for finding local Small Business Development Centers, SCORE chapters and other resources What's Next: Once you get over the initial hump, it is possible to seek out funding sources available to more advanced startups and early stage companies.
Read more: http://www.entrepreneur.com/article/52718#ixzz2tugpiGQF
Tags:
Be part of the solution:
September 22, 2019
Image: Young and old coming together to discuss suicide prevention and the challenges often presented by the daily struggle of life
This last week has been an incredible validation of the approach that Babana Aboriginal is taking when it comes to the prevention of suic...
September 11, 2019
Why do some of our elders turn to talk back radio? The rise of social isolation
I was yarning with a group of elders recently and we chatting about struggling being retired and the feeling of social isolation. As we waded our way through the conversation it dawned on me...
August 29, 2019
Don’t forget our elders can suffer in silence too: suicide prevention
Many people think that mental health and suicide are not topics that impact our elders but they could not be more wrong. The data tells us there continues to be an emerging trend when it comes to peop...
August 29, 2019
If we are to prevent suicide amongst our mob its going to be the simple things that do it.
For the last decade I have been working on the assumption that other people working at other organisations will always have our backs when it comes to the biggest challenges that...
August 23, 2019
Wherever you look these days, not matter the developed country, whole population groups and peoples struggle with the daily grind of life. From children in state care to mental health, from affordable housing to the primary health system and from education to employmen...
August 11, 2019
Image: Babana Aboriginal Men's Group meet on the last Friday every month in Glebe / yarning circle
Let’s face it; we as men find it difficult to have conversations with each other especially as we age. In doing so we keep not only our challenges and emotions to ourselv...
August 11, 2019
Why language and self-determination matters on this International Day of Indigenous Peoples
When we think of our indigenous peoples, we normally think of them in two ways. The first is through culture and the amazing amount of history and connection to the land they hav...
July 15, 2019
For the last few years I have been fortunate to have been involved in the aged care sector and have seen both the lows and highs. Today we live in a world where most of us are living longer thank to more awareness around healthy living, the advancement of better medica...
You can’t go past a news paper, radio show or television news story these days without being flooded by all things Bitcoin or Crypto Currency. Some say it’s the new world of money while others suggest its all just a passing fad. Whatever your position or preference of...
May 26, 2019
The New Zealand Maori Council has called on the Government to step in and ensure the recommendations made by the Children’s Commissioner in respect of youth detention facilities be implemented without delay. The Report released to the previous Government carried a seri...
Older Posts >
