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20 Small Business Tips, For Success
These are just some general tips to keep in mind as you
design/operate your small business:
1. Take the time out to explore and understand whether or not
you are compatible with running our own business. Some people
are just plain happier...
Solve Big Problems To Make Big Money.
One of the fundamental truths I've learned about Internet Marketing is that no one really wants to pay for information. The truth is, the only reason people will ever pay you for your information right now is because you can solve their most...
The Naughty Niches: Potential Gold Mines or Business Killers?
Okay, so you're looking for new ways to grow your online business and you can't help but notice all those adult oriented matchmaking sites popping up (literally) all over the place. After awhile you begin asking yourself if it's time to replace...
Two Reasons to Use Timesheet Software
This short paper will expand on two key reasons to move to a computerized timesheet system at your company. There are more than two reasons of course, but these will be expanded on at a later date. The two key reasons to be discussed here are...
Your Future Profit is in the Stars
You don't believe in astrology but you check your horoscope in the newspaper just for fun. Me too. But millions of people do believe in astrology and are willing to pay to know the future. This creates an opportunity for you to profit from an...
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Finance Your Small Business: So Much Money – So Little Time
$47.4 million venture capital funded projects today. $86.4 million yesterday. $51.4 million the day before.
These amounts are not made up. They are actual numbers from actual reported venture capital funding. I get these notices emailed to me day after day, rain or shine.
These numbers are a constant reminder to me that companies – lots of companies – are getting funded every day.
And these numbers just reflect the reported venture capital funding. There is probably double that amount 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 investing in small business.
So how come you’re still looking for financing?
Perhaps you aren’t presenting your company effectively.
Or perhaps you haven’t located the right lender.
It’s also possible that your concept just isn’t very good, but I doubt that. The fact that you are reading this article means you are a serious entrepreneur, with a serious business.
So where do you go to find all these investors? Here are some starting points:
For standard business financing, talk with the local office of the Small Business Administration. It’s a different agency, with different programs and services, and lots of money to lend. Although much of the focus of the SBA is on minority business enterprises, the SBA still has a lot to offer all companies.
Also talk with your local banks. (That was plural “banks”, not singular “bank”.) Talking with a number of local bankers will rapidly bring into focus the wide ranging priorities of the various banks, and where your company 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, perhaps $2-5 per name. The idea is that once the entrepreneur gets the list of 200 or 2,000 names in hand
that he/she will contact each with a written executive summary or business plan, and then wait to hear from one of them. This is a very passive approach, roughly akin to throwing paint on the wall and hoping that something will stick. For most entrepreneurs, patience is not a strong suit, so sitting and waiting for a response is not quite their cup of tea.
Another option is to go to one of the many directories of venture capital firms. These directories typically include addresses, phone numbers and emails, along 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 again the entrepreneur is faced with the prospect of sending out written material for each one, and waiting for a response.
A third option is to take a more proactive approach. Savvy entrepreneurs identify the best prospects themselves from a number of reliable sources. They get introductions where possible. They learn everything they can about their target investors, and then go after it. Typically a phone call is the first contact, not an anonymous executive summary.
Knowing that you are calling your best prospects, you know too that they are open to hearing from you. You have names, you have investment histories, you have everything in hand to make a real connection with the target investors.
Getting your company financed is one of the hardest things you will ever do as an entrepreneur. It can be hugely frustrating, disappointing and genuinely discouraging. But lots of entrepreneurs do it. And so can you. Get the “No’s” out of the way and go for “Yes!” The exhilaration of the handshake sealing the deal is unlike any other transaction in business. Go for it.
http://www.businessplanmaster.com
http://businessplanmaster.blogspot.com
About the Author
Ms. Shank is founder/president of www.BusinessPlanMaster.com. She has worked in business finance in good times and bad, and will rapidly tell you that good times are a whole lot better.
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| United States Small Business Administration |
| An electronic gateway of procurement information for and about small businesses. Search engine for contracting officers, marketing tool for small firms, ... |
| www.sba.gov |
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| SBA |
| The Small Business Planner includes information and resources that will help you at any stage of the business lifecycle. ... |
| www.sba.gov |
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| Main Page - SmallBusiness.com - Small Business Resources |
| Find Small Business plans, advice, tutorials about organization, corporations, entrepreneurship, and smallbusiness. |
| www.smallbusiness.com |
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| Yahoo! Small Business: Domain Names, Web Hosting, E-commerce ... |
| Yahoo! Small Business provides products and services that enable you to establish and grow your business on the Internet. Services include domain name ... |
| smallbusiness.yahoo.com |
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| Small business advice business start up small business finance ... |
| business start up small business finance start up advice. |
| www.smallbusiness.co.uk |
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| Smallbusiness.gov.au redirect to business.gov.au |
| Business Entry Point - Helping small business in big ways. An Australian Government initiative. The content from this website has now been consolidated into ... |
| www.smallbusiness.gov.au |
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| Business & Small Business |
| Online and print small business publication. Information to help start, grow or manage a small business. |
| www.entrepreneur.com |
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| Microsoft Small Business Center |
| Your home for information about Microsoft's small-business products and services, tailored business advice, technology tools, and more. |
| www.microsoft.com |
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| The Small Business Advisor - advice for starting and operating a ... |
| Advice and assistance for starting and operating a small or home based business. |
| www.isquare.com |
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| SCORE "Counselors to America's Small Business" |
| A nonprofit association dedicated to encouraging the formation, growth, and success of small business nationwide through counseling and mentor programs. |
| www.score.org |
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| Small Business and Self-Employed One-Stop Resource |
| IR-2006-2, January 3, 2006 - Temporary and proposed regulations will significantly reduce tax filing burden for nearly 950000 small business owners. ... |
| www.irs.gov |
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| Welcome to Small Business BC your business resource in British ... |
| BC Business Services offers assistance and resources for those running or starting a business in British Columbia and Vancouver. |
| www.smallbusinessbc.ca |
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| Small Business Service | Home |
| Provides information and advice to help small businesses realise their potential. |
| www.sbs.gov.uk |
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| NSW Small Business |
| A site developed by the NSW Department of State and Regional Development for small businesses. Topics include management, resources, current issues and ... |
| www.smallbiz.nsw.gov.au |
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| Business Management & Advice: Small Business Resources & Information |
| Looking for business management and advice? Our website includes small business resources and information that can help you. Visit the small business ... |
| www.businessweek.com |
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| Small Business Lawyer, Attorney, Law, Legal Help - FindLaw for ... |
| Information and legal sites relevant to small business. |
| smallbusiness.findlaw.com |
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| Small Business Funding Opportunities (SBIR and STTR) |
| Links to Small Business Funding Opportunities and SBIR / STTR Applications. |
| grants.nih.gov |
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| Microsoft bCentral Small Business Directory |
| Directory categorized by industry with company business card feature. |
| sbd.bcentral.com |
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| Our site has moved! Please update your bookmarks! |
| Facilitates the sharing and exchange of information among small business development centers, the small business administration and other business-oriented ... |
| sbdcnet.utsa.edu |
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| Small Business Development Corporation |
| Our business information services provides guidance to improve business skills and knowledge on advice on starting, buying, selling and expanding a small ... |
| www.sbdc.com.au |
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