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Where to Find Growth Money For Your Business
Written by: Dan LacyArticle Overview: Here are a number of unique ways to raise money for your struggling business.
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Free Download - The Millionaire Next Door Summary By Dan Lacy |
Where to Find Growth Money For Your Business
A solid business idea will attract potential investors like bears to honey. Would you believe more people are looking for good investments than there are good opportunities? The trick is to plant your honey pot of an idea outside the right bear caves.
If you're looking for a "working partner" with capital, the emphasis will be on the career opportunity rather than the financial return. Precisely define the skills you need and seek out prospects just as you would an employee.
- "Silent partners" kicking in small money in the $5,000 to $50,000 range are generally high-income individuals in the over-40 age bracket with spare investment dollars. They are constantly on the prowl for small business deals that can create enormous long-term gains not offered by conventional investments, hedged by the reality that the IRS will share their losses if the business doesn't make it. Professionals, executives and business owners fall into this category.
- Hunt for candidates who have been in your type of business, have succeeded and are now retired. They are quicker to invest because they know your business, have more confidence in it and often enjoy reliving their career through your venture.
- Don't overlook people who can not only benefit from the profits of the business, but can equally benefit from doing business with you. Suppliers come under this category and so do distributors or potential customers
- Put your accountant, banker and lawyer to work. They have plenty of clients with investment money and can oftentimes sell a deal on the basis of favorable tax angles alone.
- Advertise. Partnership money is "bought and sold" like any other commodity. Place a simple ad in the classified section of your newspaper, describing your deal and the cash needed. The New York Times prints an entire column of "capital needed" listings every Sunday. So will your metropolitan newspaper. While you're at it, scan the bulging columns marked "Capital Available." It shows just how many people are anxious to exchange money for a partnership interest.
- Promote your deal. Mention it to your barber and you may end up with his father-in-law as a partner. Many marriages come about through word of mouth.
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Article Tags: accountant, age bracket, business idea, business owners, career opportunity, caves, classified section, doing business, favorable tax, honey pot, income individuals, investment dollars, investment money, irs, li li, new york times, ol type, silent partners, small business deals, tax angles
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About the Author: Dan Lacy RSS for Dan's articles - Visit Dan's website President and Founder, Dynasty Business Building. For the last 25 years he has worked with over 2,000 different businesses in 50 different industries on effective methods to consistently control performance and improve growth, profit, cash flow and value. Dan�s clients are the recipients of numerous prestigious awards: Entrepreneur Business of the Year, SBA Business of the Year, Impact 100, PACE, Growth 100 and INC. 500 Fastest Growing Companies. Past Experience Executive Vice President � Gaither Management Group, Alexandria, Indiana. Responsible for business strategic planning, business acquisition and growth for 12 diverse operating companies with revenue over $40M which were owned by the nationally recognized multi-platinum Christian singers, songwriters and authors Bill and Gloria Gaither. Vice President � Washington Trust Equity Corporation. A bank owned venture capital fund founded to make equity investments in growing business in Washington State. Vice President � Washington Capital Corporation an asset based lender. Commercial business loan officer at United California Bank, Los Angeles California. Education Masters Degree in Finance from the Peter Drucker Graduate School of Management, Claremont Graduate School, Claremont, California. Received a BA degree from Azusa Pacific University, Azusa, California. Click here to visit Dan's website Is Your Bank Ready to Call Your Loan The Millionaire Next Door Summary Planning Today Surviving Tomorrow If Youre Serious About Improving Your Cash Flow Demographic Profile of an Average American Millionaire |
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