Forums: Discussions for entrepreneurs and small business.

I need help obtaining funding.  Ross Government Services Inc (RossGSI) is a service disabled veteran owned small business which is in it's start-up phase and will focus on providing parts/smarts to the government in the area of physical security and medical supplies. 

I understand those two catagories is a leap in two different fields, but there is a method to my madness.  First, physical security:  I am a veteran of the branch of the government that supports the National Security Agency, and am a recognized expert in personal, physical and information security.  President Bush signed public law HSPD 12 which spurred FIPS-201 which requires the government to have a common access control card.  Basically, all federal agencies are required to integrate there security systems to support these cards which have a biometric/encrypted capability.  This was a unfunded mandate until 2012;  However, in 2012, (next October) government is going to allocate billions to bring this technology online. 

Second is medical.  President Bush signed Public Law 109-461 which states the Department of Veterans Affairs must procure from a Service Disabled Veteran owned Small Business first, Veteran Owned Small Business second, and then all others can play if the first two are not avaialbe.  This means the government MUST procure from me first. 

Third is a program the government has initiated to ensure socially economic disadvantaged business are able to compete in government procurements as sub-contractors.  25% of all prime contracts over $500K are required to have a subcontract plan which includes SDV businesses.  Before it was on the honor system, but now it's being tracked, and if I Prime failes to meet standards, they will loose thier ability for future prime contracts. 

Government procurements over 3K require it go through a bid process, unless you have a pre-negotiated contract with the government (GSA Schedule, IDIQ, DHS Eagles, NASA SEWP or other contrat vehicle).  Service Disabled Veteran Owned Small Business's get preference in each of these contracts, and I have developed them for others in the past.  I've got the vender approvals, I just need minimum funding to get this going in the future. 

These three legistlative advantages, combined with my knowledge of government procurment process will ensure success of my business plan.  My needs are small.  I am going to run this part time until things are up and running to ensure my family support.  $25K - $50K. 

I have additional information to validate the success of my business plan if you are interested.

Most start-ups need to be making early stage sales before investors will throw their chips in.

enross,

Although I can't give you a specific answer as to how or where to acquire the capital you seek without more detailed information, I will offer a couple general comments:

1. Although I can see a connection between your two fields - i've found that most sources of early stage capital would prefer for you to focus. So I would suggest starting out with one area and concentrate on it until it has reached a specified revenue level - then you can add the second area to your efforts.

2. You don't state whether you are seeking some type of debt financing or if you plan to sell a security. Suppliers of capital look at  different things depending upon the type of capital they provide - so you should have the "right" message for the source you seek.

If you want to discuss your specific situation, in confidence, feel free to send me a PM or contact me directly.

Happy Holiday

 I agree. It is better to start off small and get a track record. You need to show an investor that you are willing to make your company versus using the investor make your company grow.

I think you have the expertise, contacts and have done the research. It is a good idea that you are doing it part-time at the start. You actually use your time better when you restrict how long you work on your business. Personally I am not familiar with Government contracts. However, I assume that the finances of the business is considered. This could be an issue.

I wish you the best of luck in your venture.

Does anyone know of any good angle investor networks that are online?

Thanks

~ Sam

Sam,

Most professional angel groups have some web presence  Since virtually all angel groups will ultimately want a physical meeting with the entrepreneur - you might want to concentrate your search in your local area.