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• Q1: Getting my idea off the ground while still meeting the responsibilities of my current job. Who When and Where is it best to ask for funding and what are fair terms?
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  by WhaleTailChipGuy 

  04.10.09 | 12:50 PM

  No substitute for long hours. Who to ask for funding?Yourself, Family , Friends first ...if you can't convince the people that know you the best to support you then how are you going to sell investors that do not know you at all. Next be sure to separate your business and personal expenses. Start establishing lines of credit as a business so that once your coffee cart has traction (record of sales) then you can approach a lender. Be careful not to approach a bank before you have business credit and traction. If you get turned down for a loan then your business is "marked" as a higher risk the next time around.
  In the beginning you will have to do most of the capitol investment first. Investors later on want to know you had some "skin in the game."

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• What advice do you have to help me grow my idea?
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  by duckling 

  03.16.08 | 05:42 PM

  Step 1: Write a business plan
  Step 2: Weight your financing options. Talk to as many funding sources as possible, banks, Venture Capital, Small Business Association, and friends/family
  Step 3: Take advice, listen to suggestions, and learn through the experience

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