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How About a Plan B for Fund Raising?

Guest post by: Guy Kawasaki

Article Overview: Over at the American Express Open Forum blog, I've posted a description of "Plan B" for fund raising.

How About a Plan B for Fund Raising?

Over at the American Express Open Forum blog, I've posted a description of "Plan B" for fund raising. Plan B is 180 degrees from the usual venture-capital path. Check it out by clicking here. If you go with the usual Plan A, don't say I didn't warn you.

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Article Tags: american express, open forum, plan b



Related Forum Posts
Business Innovation - Hi Simon If you can finish off the Business Plan and think about your strategic direction or how you are going to use your product to convince people it's a great idea, it will set the foundation for your programming project. You see, when you are looking for funding you will need a Business Plan and Strategic Plan that will convince companies to invest into your new idea. Has anyone achieved this idea before using another industry besides health and fitness that you know of? You should also design some mockups as a "preview" for your programming project. This will also help reduce your programming costs as everyone will know exactly what you want if you have detailed mockups already completed including any functionality you require. Starting mockups for websites and software applications on paper is the best way if you're not a guru in graphic editing software.
Re: Sales Letters: Do they work? - Sales letters are a unique and very beneficial element to almost any businesses marketing and sales letters, if done professionally and ethically. According to Rudyard Kipling, 'words are the most powerful drug we humans can deliver' the reason these letters and sites work, and they do, trust me, is people they are targeted to a very specific type of person/demographic. The more you understand your market, the better you can write your sales letters and collateral material. Every form of communication essentially uses this format, identify the pain propose a solution offer proof - through testimonials outline the benefits make an offer they cant refuse etc etc if your radar flags when you read some one else's letter, that only speaks to your own integrity and how you want to be seen. In fact, some of the best sales letters every written have been for World Wildlife Fund, Foster Parents Plan, Canadian Cancer Society etc. The difference is that now mainstream businesses and especially information marketers are using these tactics. Personally the formula is used all the time in every successful campaign - you only need to decide what you are comfortable with. As far as one of the links Shri provided, I'm very familiar with his work and quite frankly wouldnt bother recommending it.... But to sum up - sales letters are an old and traditional way of motivating someone to buy - right now. dont knock it - if you aint tried it. But make sure you are 100% acting in integrity and within the comfort level of your audience. Jude
Re: NEW VIDEO - How to improve your business plan - Ask Evan - Thanks Evan, great intro into how the VC's see business plan. I will take a look, but hope that this video as number 1 in a series. It is unfortunate that these types of errors, the most basic of errors as you point out here are common to too many business plans, having reviewed a few hundred myself from both a development and funding perspective. As a mentor and workshop facilitator for Business Plan development for a number of start-up IT and multimedia companies, your presentation help support and show how the VC's see and evaluate a plan Shameful, that too many don't take the time to learn how to properly prepare, present and defend their plans. Over the years, I have enjoyed Business Plan competitions, and help re-work some of the winning proposals
Should FDIC Worry about FHLB? - What do you think the impact would be on the Bank Insurance Fund with Federal Home Loan Advances for business? Especially since you can obtain a grant when used in combination with FHLB advance. The grant can be used for anything you want for your business (down payment to a seller or franchise fees, working capital...etc.) This puts the borrower in a pretty good position. Should FDIC worry about FHLB?
Re: Should FDIC Worry about FHLB? - [quote="BizLoanz4u":3cde91n6]What do you think the impact would be on the Bank Insurance Fund with Federal Home Loan Advances for business? Especially since you can obtain a grant when used in combination with FHLB advance. The grant can be used for anything you want for your business (down payment to a seller or franchise fees, working capital...etc.) This puts the borrower in a pretty good position. Should FDIC worry about FHLB?[/quote:3cde91n6] Hi Michele, Could you first tell us a little more detail about both organizations?


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