Tag Archives: small business financing

“Bootstrapping”–Financing For Small Business

The term “Bootstrapping” has been loosely tossed around the business world for a long time. It is usually directed at the business that has consistent revenue, where the term refers to organic growth by reinvesting that revenue.

On the other hand, what about the entrepreneur who would like to start a business, but has no money, no assets, and no credit. How can that person even think about starting a business? Fortunately, there is always ‘real’ bootstrapping.

For many entrepreneurs, financing their small business seems like an impossible task. The truth is: obtaining money to start and operate a business is often the most difficult part of becoming a small business owner.

Unfortunately, there are no hard and fast rules about financing our businesses—we are left to fend for ourselves … and that’s why I wrote Small Business Bootstrapping: And Other Alternative Ways to Finance Your Small Business.

 

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This book is one of my Primer Series books and is written specifically for the new, or aspiring, entrepreneur and new small business owner. If you want more information about this book right now, you can click here.

 

 

Small Business Bootstrapping was written to help all entrepreneurs to:

  • Understand the challenge of financing a small business
  • Make sense of Bank, SBA and other “normal” business financing
  • Demystify Venture Capital and Angel Investing
  • Learn about Crowdfunding and other “creative” business financing
  • Gain an understanding of “real” Bootstrapping

This book is directed at the new or aspiring entrepreneur, and is presented in simple language—without any financing “jargon” or investor double-talk.

Small Business Bootstrapping concentrates on “creative” financing avenues, and there are also several website addresses included for many of the sources available for small business financing .

So, if you are stumped on how to finance your upcoming business—or you want to grow an existing business—you should take a look at this book. To see a sample excerpt of what’s in the book, take a look at Amazon’s “Look Inside,” —click here.

If you would just like more information about this book, click here.

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How Not to Pitch to a Shark

Financing a small business is difficult at best, and very few people get to pitch to an Angel Investor during an early stage of their business.

For instance, of the 20,000 businesses that apply to appear on Shark Tank each season—only 60 are accepted.

With those odds, you would think that anyone accepted to appear on the show would prepare, rehearse, ask for critiques—and then practice and practice until it became second nature.

Following is a perfect example of what happens when one of the select few who get to appear on Shark Tank is not prepared to present their “pitch”:

 

 

Also, it is not only the Shark Tank presenters who need to prepare their pitch—the same is true of every entrepreneur who needs startup financing from someone, somewhere.

It doesn’t really matter whether you are pitching your Aunt Edith, or an A-list Venture Capitalist—you need to prepare, prepare, prepare … and then do it all over again.

As Mr. Wonderful said: “Don’t worry, it’s only the biggest moment in your life.”

If you can’t give a concise, and exciting, description of your new business venture in (2) minutes or less—you really don’t know your business very well, and whoever you are talking to will quickly know it.

If you have trouble pitching your business … you should look for a partner to help you start the business and be responsible for getting information about your business across to other people.

Have you ever had a “brain freeze” like this poor guy had?

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