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Business Plan InformationFinance Your Small Business: So More Money – So Little Time
by:
MaryAnn Shank
$37.4 million funded from venture capital today. $86.4 million funded yesterday. $51.4 million funded the day before.
These amount are not ready-made up. They are actual amount from actual according venture capital funding. I get these notices emailed to me day after day, rain or shine.
I’m not in person
looking for business funding – but the entrepreneurs who see my website are. These amount are a constant reminder to me that companies – lots of companies – are acquiring funded every day.
And these amount simply reflect the according venture capital funding. There is probably double that figure from angel investment and unreported fundings, and millions more from the $16 billion pool that SBA has this year.
All in all, it’s a lot of money. That’s a lot of companies and banks and groups and individuals actively investment in small business.
So how move you’re still looking for financing?
Perhaps you aren’t presenting your institution effectively.
Or possibly you haven’t placed the right lender.
It’s besides possible that your conception simply isn’t really good, but I doubt that. The fact that you are reading this article means you are a serious entrepreneur, with a serious business.
So wherever
do you go to find all these investors? Here are several starting points:
For standard business financing, talk with the local office of the Small Business Administration.
It’s a new agency, with new programs and services, and lots of money to lend. Though more of the focus of the SBA is on minority business enterprises, the SBA still has a lot to offer non-minority companies.
Also talk with your local banks. (That was plural “banks”, not “bank”.) Talking with a number of local bankers wish quickly bring into focus the wide travel priorities of the various banks, and wherever
your institution fit in.
As for venture capital and angel investors, there are several options.
One option is to go to online sources. There are a number of online services, such as VFinance, that sell the names and addresses of possible investors. It’s not expensive, possibly $2-5 per name. The idea is that once you get the list of 200 or 2,000 names in hand that you wish contact each with a written executive summary or business plan, and then wait to hear from one of them. This is a really passive approach, roughly akin to throwing paint on the wall and hoping that thing
wish stick.
If you are like most entrepreneurs, patience is not your strong suit, so sitting and waiting for a response is not quite your cup of tea.
Another option is to go to one of the galore directories of venture capital firms. These directories typically include addresses, phone amount and emails, on
with the geographical areas of interest and the types of investment that each is seeking. Most businesses can narrow down their list of prospective investors to several hundred venture capital firms this way. And once again you are baby-faced with the prospect of causing out written material for each one, and waiting for a response.
A third option is to take a more active
approach. Identify your better prospects yourself from a number of reliable sources. Get introductions wherever
possible. Discover everything you can simply about your target investors, and then go after it. Typically a phone call is the 1st contact, not an anonymous executive summary. Knowing that you are career your better prospects, you cognize too that they are open to hearing from you. You have names, you have investment histories, you have everything in hand to do a real connection with the target investors. Then go do it.
Getting your institution supported
is one of the hardest things you wish ever do as an entrepreneur. It can be enormously frustrating, dissatisfactory and genuinely discouraging. But lots of entrepreneurs do it. And so can you.
No one knows once
this astounding window of chance wish close Spruce up that business plan and go for it -- now.
MaryAnn Shank
http://www.businessplanmaster.com
http://businessplanmaster.blogspot.com
Just simply about the author:
Ms. Shank is a business plan specialist. She worked with venture capital firms and emerging companies for over 20 years.
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