Forums: Discussions for entrepreneurs and small business.

I am looking to start an educational consultancy and have been looking for grants to fund my start-up.  I have been talking to a company that provides coaching services for securing funds for a business.  They guarantee that they will work with you until you receive the funds you need.  They want to charge approx. $8,500. 

My question is, has anyone had any experience with this type of coaching--is it a ripoff?  Is is worthwhile?  If not, can anyone offer suggestions for grants or any other funding for starting a for-profit education consultancy?

Yes, it is a rip-off.  Spending money upfront to perhaps get money (or not) is always a bad business decision.

I was CMO at an ill-fated dotcom back in the day. My CEO went this route with a firm in NYC; we never got our B round, payroll never ran the next month, end of story.

Grants for a for-profit I never understood anyway. It makes for good commercials, like that annoying guy with the question-mark-suit running around DC, and that other annoying guy on the teevee who purses his lips way too much when he talks.

If you have $8,500, use that to get your idea off the ground. There are no guarantees in the entrepreneurial world anyway, even one in writing from a `grant coach`. I would venture to guess that when the money runs out, so will your return calls from said grant coach.

Get a solid business plan together, scale back your launch if need be, and do it yourself. Equity is the most expensive capital you will ever spend, and Excel spreadsheets are not crystal balls.

No one has the `right` to obtain funding, just as no one has the `right to home ownership`, i.e. sub-prime lending which has resulted in a collapsing market due to (imagine this) loan defaults.

Finally, if it`s an educational consultancy, how much capital does that require?  I would imagine a good chuck of your intellectual capital is in your experience, background, education, contacts, etc.

I`ve never been a fan of a startup looking for free money. Do it yourself, with friends and family or debt if you have to, and forgo the grant or capital infusion route altogether.

Obtaining a grant is dependent on many factors - not the least of which is you and your idea. An experienced grant writer can help you prepare and submit a "proper" application - but no one can "guarantee" you will receive a grant.

 

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Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
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$8500 is a lot of money. I dont know how much money you are looking for, but I am using a company right now that garuantees getting you funding if you have a good fico score. I am still in the early stages with them. I also got approved for a SBA loan, but I am going with this company. Its more like business cash credit loans. Check out www.corporatecreditconcept.com, and email Chad Lee. Say Lee Vang`s Business Management, LLC refer you. They are very professional althougth the funding does take awhile. I am going to the bank next week to try and get the funds (100-125k, unsecure line of cash credit). I`ll update everyone.

Thanks everyone for your feedback.  I am moving forward with my idea, and am very excited about it.  I appreciate the time you took to respond and help me make decisions to benefit my business.

By `moving forward with my idea`, I hope that doesn`t mean going this route.

Let us know if it actually works, which I really doubt it will.

Hey, at least you`ll have an $8,500 loss the first year.
Useful for tax return purposes ...

No, by moving forward I meant using my funds to start the business myself.  Of course we were skeptical of the entire "coaching" thing from the beginning, but wanted to hear other opinions out there.  I am very committed to making this work, and am working on other ways to obtain the funds I need.  Thanks again for your input.    

I am glad to hear your using your funds to start your business. I also would have been skeptical of the coaching??? thing???.  If you stay focused and keep the big guy upstairs involved it is sure to be a success. Always believe in your dreams and they WILL come true.

My website my benefit you, it may not. If so call me and we can talk, otherwise I look forward to hearing of your success!


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Debbie Poole
world2foryou@yahoo.com

www.ITVLeaders.com/102822

Complete Information:
Sales Page:
http://itvleaders.com/cgi-bin/d.cgi/102822/moreinfo.html

sounds like a rip off

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James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com

Yes, definitely a rip-off!