Posts Tagged ‘Funding’
Oh, Go Ahead and Ask for a $5 Million Investment in Your Startup
I cannot tell you how many times I have seen executive summaries of business plans in which the entrepreneur seeks $5,000,000 to build the business. Four reasons you should reconsider. First, few startups can use that much money today with all the virtual services available and increasingly inexpensive methods of development, prototyping and marketing. Second, almost…
Read MoreFunding Alternatives Change as Your New Venture Grows
Some entrepreneurs start polling venture capitalists for that multi-million dollar investment before they even have a business plan. That’s like trying to sell part of something to a stranger for big money when you haven’t fully defined it yet. It won’t work, it costs time and money, and hurts your credibility when you need them…
Read MoreAlternative Funding: What Can My Business Get?
Running and maintaining a successful business is hard work. It is exciting starting and working on a new venture, however, keeping things ticking over requires constant effort and even more importantly, continuous financial backing. Cash is king and having a healthy flow of cash throughout a business is essential. Even with the best business models,…
Read More8 Keys to Convincing a Bank to Fund Your New Venture
A common question I get is “How do I get a bank loan to fund my startup?” The default answer is that it probably won’t happen, because most banks just don’t make bank loans to startups. The failure rate is just too high, and startups typically don’t have the assets or revenue stream to back…
Read MoreDon’t Dismiss These Basic Ways to Raise Funding for Your Business
A new business needs all sorts of things to survive, but above all else it needs money. Without money, you cannot hire additional workers, maintain a website, own office space, and so many other things. And so many potential entrepreneurs want to know where they can obtain funds to turn their great ideas into reality.…
Read More7 Pitfalls to Watch Out for When Funding Your Small Business
Remember that you’re going to make mistakes while running your business. It’s okay to make a few mistakes. But most financial mistakes are the results of lack of financial knowledge or poor planning. Here are the most common pitfalls to avoid when securing funding for your small business. Choosing the Wrong Business Partner Not choosing…
Read MoreFranchise Funding: Preparing to Finance Your Franchise
So, you’ve identified the golden franchise opportunity that suits your skill set and needs. What’s next? Funding. Two significant expenses to consider are the initial franchise fee and ongoing royalties. The franchise fee is the nonrefundable, one-time price to operate a franchise using the franchisor’s model. You usually have the choice to pay it in one lump sum…
Read More6 Guidelines for Proper Responses to Investor Queries
Entrepreneurs looking for investor funding often fail to realize that all money comes with strings. For example, if you have watched the Shark Tank TV series, you probably noticed that the Sharks always ask the entrepreneurs for their intended “use of funds.” Those who respond with one of the wrong answers, such as “I want…
Read MoreThe Ultimate Guide to Starting Your Own Small Business
Starting your own small business can be exciting to think about when you are ready to take your career to the next level. Many people have the entrepreneurial spirit and are ready to launch their own small business. The more information you have about starting your business, the best chance it has for survival. Although…
Read MoreICOs: An Exciting New Way to Finance Your Business Idea
Today, bank loans, grants, funding, donations and other traditional ways of financing business ideas have a new competitor. Initial Coin Offerings (ICOs) represent are an exciting and innovative form of investment for start-ups. The specificity of this method is based on blockchain technology known from cryptocurrencies. Business ideas quite often go hand in hand with…
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