LAUNCHING THE VENTURE OF YOUR DREAMS

“Sixty-three percent of today’s American twenty-somethings want to start a business. By 2020, there will be an estimated billion entrepreneurs worldwide. Whether it’s the next Facebook, the next world-changing non-profit, or the next coffee shop down the street, starting something is the ambition of today’s generation.

The “want to start a business” is not limited to the twenty-somethings. I believe that many people of all ages have a dream of owning their own businesses. Most new business ventures have one thing in common, working capital is limited.

I have worked with many companies that have started on the proverbial shoestring and self-funded themselves with profits they made from their products/services. The startup capital in many of these cases was a small savings, credit cards, family and friends. It is important to know that without sufficient working capital for marketing, survival funds for the founder, and general operating expenses while the business gains a foothold, chances of survival become slim.

Every small business should know the steps required for fund-raising. The following is an overview of the process.

• Create your pitch deck: a properly developed pitch deck has proven to be one of the most useful tools for finding venture capital. In the education section you will find a tutorial on how to create a pitch deck. A pitch deck can be used as customer presentations as well as a presentation for venture capitol.
• Identify your potential money sources:
  • Family and friends: funds from this source are usually easier to obtain; you have already established a position of trust.
  • Crowdfunding: This method involves many investors pooling small amounts of cash to fund a venture. Also check online funding such as
  • Angel Investors: This group consists of wealthy individuals that invest their money in early-stage companies.
  • Venture Capital Firms: These companies usually pool money from foundations, insurance corporations, pension funds and institutional investors and invest in higher risk ventures for equity.
• Another source is SBA. Most banks will help you obtain this type of loan and will gladly share details with you.

Keeping accurate books on your business is essential for growth and it is also the key to obtaining funds.

If you don’t build YOUR dreams, someone will hire you to build THEIRS.