Funding a business is hard. You need to be creative about how you approach your finances, a skill that will serve you well in business.…
Solving Arguments through the Power of the Crowd: Interview with Imagoo Founder & CEO Mickey Hernandez
by / ⠀Entrepreneur Interviews• Entrepreneurship / September 13, 2013Only 12 credits short of graduating from UNLV with a degree in economics, Imagoo CEO Mickey Hernandez is in no hurry to graduate. “On my lunch break I run over to school to take a class and head back over to work for the rest of the day.” The 22 year-old has always wanted to create his own ‘baby,’ and has done just that with photo comparison app…
Funding for Small Business: An Entrepreneur’s Insights
by / ⠀Entrepreneurship• Startup Advice / August 29, 2013According to Venture capital database CB Insights, the total number of U.S. Venture Investments in 2012 was $28.3 billion – a large figure that actually was slightly down from the $30.6 billion raised in 2011. With several key economic indicators signaling an upturn in the U.S. economy, perhaps there is another reason why venture funding was flat (or slightly down) from year-to-year. Considering the worldwide fundraising phenomenon, called…
Ten Ways for Bootstrapped Students to Finance Their Business Ideas
by / ⠀Entrepreneurship• Funding / August 9, 2013You’ve learned it the hard way: college is your wallet’s biggest nightmare. You juggle student loans, housing payments, meal plans, textbooks, and all of the expenses that go along with the college experience. How can you possibly stake any money into that brilliant venture you’ve always wanted to launch? Unless you have one of those legendary rich uncles, you’ll need some of your own cash to get things…
Strange But Inspirational Crowdfunding Projects
by / ⠀Entrepreneurship• Finding Customers• Funding / August 2, 2013Banks deal in financing real businesses – retail businesses, manufacturing businesses, educational institutions – things that make profits. In the Carrey movie Yes Man, the bank that Carrey works for doesn’t even like to fund tiny home businesses – little home birthday cake bakers and the like. What do you do if your idea is even more off-the-wall then home bakeries? What if you wanted money for something…
By this time, most startups and entrepreneurs have probably heard about the JOBS Act and the implications for the crowdfunding industry. With the enabling legislation under the JOBS Act, startups will be able to utilize the power of the crowd to actually source investments as opposed to only soliciting donations for business ideas. Startups will be permitted to raise equity investments through online platforms that will be…
Why You Should Consider Peer-to-Peer (P2P) Lending for Your Business
by / ⠀Funding• Startup Advice / June 10, 2012So here you are – you’ve poured as much of your own money as possible into launching your business, but you’ve just been rejected for a small bank loan – after several months of waiting – and your SBA loan application doesn’t look too promising. Now before you blow a gasket thinking about it, I’ve got good news and good news. That last bit wasn’t a typo. The…
Conquering the Road Ahead: 5 Tips to Secure Startup Funding
by / ⠀Funding• Startup Advice / May 24, 2012Whether early-stage, late-stage or development state, financing is the lifeblood of every startup, yet raising capital can often be quite challenging for entrepreneurs. The funding process is a long, windy road and without direction, you could easily lose your way. Here are a few tips I’ve learned from my personal experience on how to best attract investment dollars and commercialize your startup idea. Perfect Your Finance Pitch The…
11 Things Not to do When Trying to Raise Capital From Family or Friends
by / ⠀Funding• Startup Advice / May 16, 2012Q. What’s one thing NOT do when trying to raise capital from family or friends for your startup? The following answers are provided by the Young Entrepreneur Council (YEC), an invite-only nonprofit organization comprised of the world’s most promising young entrepreneurs. The YEC promotes entrepreneurship as a solution to unemployment and underemployment and provides entrepreneurs with access to tools, mentorship, and resources that support each stage of their business’s development and…
Raising money should be seen as a means to accomplish ambitious goals for your company, not an accomplishment on its own. Securing investment from a prestigious venture capital firm can make headlines, but there are many downsides to raising money for an early-stage company. Here are a few: 1.) Dilution The earlier stage your company is in, the higher risk it’s perceived to have. This means lower valuation…