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I need help finding start-up money

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doubleday

posts: 4

Apr 07, 2009 5:59 PM ET Quote Report Abuse

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Hello all,

I`m new here, and looking for any ideas for finding start-up money. We have a great business plan that has been reviewed and given a green light. Problem is, finding money to get us off the ground. Any thoughts other than the usual, friends, family, SBA, etc.? We are offering great returns on $150k. 12-15%+

robertj

posts: 1461

Apr 07, 2009 7:47 PM ET Quote Report Abuse

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There are any number of ways to bring capital into a business. Some are not appropriate for a startup - while others are. Finding the optimum capital strategy for you depends upon your situation. At the $150K level, you`re really not a candidate for VC firms.

Your offer of 12 -15% is a "tweener" - a bit high for debt but low for an equity deal.

If you `d like to discuss your specific situation, send me a PM or contact me directly.

Robertj

-------------------------

Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com

byrneof01

posts: 230

Apr 08, 2009 7:30 AM ET Quote Report Abuse

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I think the debt option is off the table now for start-ups. This is due to the current economic situation. I think your only realistic option is equity. However, investors now are much more prudent than two years ago. Unless you have significant traction I don`t think a Business Angel will invest. You must bootstrap and self fund until you reach this point. I don`t see any other way.

doubleday

posts: 4

Apr 14, 2009 2:12 PM ET Quote Report Abuse

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I guess thats the question, where do I look, how do I get into these groups or individuals?

robertj

posts: 1461

Apr 14, 2009 4:25 PM ET Quote Report Abuse

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Where to look is largely a function of "who" you are looking for - which is determined by what you offer.

Also, it`s not only where one looks but how they do it that impacts their success.

doubleday

posts: 4

Apr 14, 2009 5:58 PM ET Quote Report Abuse

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Would you be willing to discuss this in a PM, so that we can have a more complete conversation. My understanding at this point is, if your not in the "good ol` boys club" your limited. How do I get into the "club"?

robertj

posts: 1461

Apr 14, 2009 6:06 PM ET Quote Report Abuse

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doubleday,

Knowing the right people only counts once you`ve determined who the "right" people are. We`ve also determined that, for early stage funding, knowledge, skills and preparation are more critical than "connections"

I would be willing to discuss in a PM - but it`s easier for me if you use my direct email address which is robert@bizgrowthmasters.com

SpeedVenture

posts: 8

Jun 23, 2009 9:20 PM ET Quote Report Abuse

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The best way to find growth capital is to apply to a venture summit where you can speed pitch your ideas to several investors face-to-face in a single day. One such example is The Speed Venture Summit, the premier speed-dating-style event for fast-growth businesses and investors in New England. http://www.speedventuresummit.org; and follow the virtual discussion at Twitter #SVSNE

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