So you’ve got a great business idea or existing business. Only problem: you need money to either start or grow it. Between angel investors, SBA loans, venture capitalists and other forms of capital-generation, your head is spinning. Sound familiar? We’ve got you covered! In this episode of LifeWork, Dave and Meagan break down the most common forms of business funding, how to figure out which is right for you, and how to get started looking for it.
Discussion Points and Links:
- What’s the difference between an angel investor and a venture capitalist, and what is each type looking for?
- How do you establish your business’s value and convince a potential investor that they will see a gain?
- How do you decide how much to ask for?
- Creating financial projections: how much is guessing? How to back up your numbers?
- Is it true that it “takes money to make money?”
- How to tap into “other people’s money” (and resources/equipment.)
- What you need to know about Small Business Administration (SBA) loans
- Lesser-known ways to raise capital
- Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential (Greg Crabtree / M J Lane Publishing, LLC)
- Rich Dad’s Advisors: OPM: How to Attract Other People’s Money for Your Investments–The Ultimate Leverage (Warners Business Books / Michael Lechter)