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Raising fund...

Discussion in 'Financing Your Business' started by Arasu, Sep 28, 2016.

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  1. Arasu

    Arasu Member

    How to raise fund by the way of trusty investor or by external commercial Business for small business?Like to get more knowledge and like to join with friends who are seeking the same .
     
    azgold likes this.
  2. azgold

    azgold Moderator Member

    Hi, @Arasu and welcome!

    You'll find lots of like minds here to discuss any aspects of your business with, including startup capital.

    I'm sure some will stop by to offer some advice.
     
  3. TA Accounting

    TA Accounting Member

    Arsu,

    Congratulation on getting started. As an Outsource CFO, this is a question I address a lot for my clients.

    The best way would be to break the funding approach up into three steps 1) how much do you need 2) credibility of your business plans/projections and 3) who are the best candidates.

    Now, keep in mind, I generally recommend people to not address these in any particular order. But it does help to put a pin in each one as you go.

    1) Generally it's difficult to know how much you really need when you start a business. The mistakes many entrepreneurs make is they are under-capitalized. It's a painful mistake to make (trust me, I made it)

    2) Credibility of your business plans/projections - you can strengthen this by having a well-known accountant or attorney review your business plans and financial projections. This will show due diligence and it's not just your word saying "it will work" but an outside third-party saying the same thing. Not to mention, if you take it to a third-party, they might tell you that you're asking for too little which would solve #1

    3) These candidates are the hardest to come by, but they can be found if you know where to look. Most cities will have some kind of investor's pitching contest that you can enroll in. I always find those to be a waste of time. Rather, I went straight to the accountants, product reps, bankers, wealth management, and merger & acquisition guys and just asked - "Do you know anybody wanting to invest in something new?"

    I hope this helps!
     
    azgold and djbaxter like this.

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