Source: Dumb Little Man
After telling your boss to go to – well, you know where – and coming home to explain to your wife what you had just done, you sat in your man cave and processed both reactions: your boss was shocked and your wife was seriously mad.
You’ve got this, so you assured her. But, is that really the case?
Yes, you have a wonderful business idea that will surely take off, but she brought up a very important point:
How are you going to finance it?
Don’t fret as we share with you the best tips on financing your business.
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Business Investors
People invest in businesses every day when they purchase stocks, but you aren’t ready for your initial public offering just yet. You need somebody who is willing to put his or her money into your idea, which is an entirely different beast.
Your first step is to write a business plan that details your idea. You will be asking people to give up their cash, so you must keep this in mind when you write your plan. Think back to your business courses in college.
You likely learned that there are many sections of a business plan and all are important. You must include an executive summary first that briefly encapsulates all aspects of your vision. Next is your company description which should include your corporate set up and business goals.
After that, describe in detail your product and/or services and how they will make money. The fourth section is your marketing analysis. Section five should explain your business startup and growth strategy and how you plan to implement it. Sections six and seven, meanwhile, are your management and financial structures, respectively.
Investor options include angel investors, crowd funders, and – believe it or not – your competition.
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Angel investors are wealthy…
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