Tweet

Where to Find Growth Money For Your Business

Written by: Dan Lacy

Article Overview: Here are a number of unique ways to raise money for your struggling business.

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.

1. "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.
2. 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.
3. 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
4. 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.
5. 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.
6. 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.

Don't limit yourself. Set up an active campaign to network your deal. The objective is to have 20 to 30 interested partners. That's the only way to keep the upper hand, bid one against the other for the best deal and find the right partner.

Related Articles
  5.2 Growth, productivity and diversification: Economic Report on Africa 2007
  How to use growth marketing in your home business
  Business Growth Strategies
  2.0 Recent Economic Performance in Africa and Prospects for 2007: Economic Report on Africa 2007
  Franchising and Your Financial Game Plan

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



Related Forum Posts
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Re: Which would you start: a Blog or Online Community? - It is a difficult decision to make. Lets start it this way - What are you more interested in? Money? or Friends? or Both? If its purely Money, then Blog might be an appropriate answer. But consider this - It will be people (visitors) that will bring traffic to your blog and then Money will follow. This will be possible after a time and during this time it will be your friends who will be the starters. If you are looking for friends only, then its true that not many will be interested in knowing how you have beaten them in the game or the other way round. So it will be preferable to have a Forum where they can share ideas with you and others. But you can share your insider knowledge with them and invite comments from your Blog. You can also put up information on what others (including your friends) don't know about Tennis. The blog you create can provide News, Inside Information and also Techniques that can be used by the new entrants in the world of Tennis.
Top 19 Copywriting books - 1. Ogilvy on Advertising. David Ogilvy. Wiley. 2. Positioning: The Battle for your Mind. Al Ries and Jack Trout. Warner. 3. The New Positioning. Jack Trout. McGraw-Hill. 4. Tested Advertising Methods. John Caples. Prentice-Hall. 5. How to Make your Advertising Make Money. John Caples. Prentice-Hall. 6. Guerrilla Advertising. Jay Conrad Levinson. Houghton Mifflin. 7. Direct Mail Copy that Sells. Herschell Gordon Lewis. Prentice-Hall. 8. Sales Letters that Sizzle. Herschell Gordon Lewis. NTC Business Books. 9. Herschell Gordon Lewis on the Art of Writing Copy. Herschell Gordon Lewis. Prentice-Hall. 10. Romancing the Brand. David Martin. American Management Association. 11. The Art of Writing Advertising: Conversations with William Bernbach, Leo Burnett, George Gribbin, David Ogilvy, Rosser Reeves. NTC Business Books. 12. Confessions of an Advertising Man. David Ogilvy. NTC Business Books. 13. My Life in Advertising. Claude Hopkins. NTC Business Books. 14. Scientific Advertising. Claude Hopkins. NTC Business Books. 15. How to Become an Advertising Man. James Webb Young. NTC Business Books. 16. The Lasker Story as He Told It. NTC Business Books. 17. Advertising Concept and Copy. George Felton. Prentice Hall. 18. The Copy WorkShop Workbook. Bruce Bendinger. The Copy Workshop. 19. Hey, Whipple, Squeeze This: A Guide to Creating Great Ads. Luke Sullivan. Wiley. This should keep you busy for at least a year. Enjoy!
Making Money in 2011 - Hello forum members! As we draw closer to the new year I thought it would be appropriate to change the title of our forum category "Making Money in 2010" to "Making Money in 2011" - I'm looking forward to some interesting discussions and wish everyone a prosperous New Year!
QuickBooks vs. Microsoft Money vs....? - I have always used Microsoft Money to run my business - accounting, invoicing, etc. It came with my computer when I got it and integrated well with my online banking system so everything is a breeze. It only takes 30-60 minutes every quarter to do the bookkeeping (keep in mind that I have a very simple business - no inventory, very little invoicing, I do all my payments by credit card, etc). Is QuickBooks or Money the best accounting tool for small business owners? Or is there something even better?


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

The Substance Abusing Employee

Working Across Borders

Quick Tips on Buying a Business

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.