investment dollars in a faltering economy requires creativity. Witness the efforts of the financially-strapped California
state treasury, now
soliciting funds from
an unusual type of bond investor: mom and pop.
one of the largest states in the nation looks to borrow money from just-us-folks,
what's a start-up venture in search of cash to do?
Bootstrapping: When every penny
counts, it pays to be frugal, and self-funded. Get customers to pay upfront and
get as much free advice and bartered services as you can. For more, read 7 Easy Steps to Bootstrapping Success.
Friends and Family: Look close to home
for investors but be sure to treat any loans from friends and family
professionally. Put all terms in writing, including how much control the lender
will have and when and how the loan will be paid back. Establishing
expectations can help keep relations running smoothly. Remember also that
mixing family and money can sometimes backfire; potential pitfalls are outlined
in Help From Family Has Its Costs.
Debt Financing: Many start-ups rely
on debt financing either though credit cards or personal asset loans. Both are
viable options, both have potential pitfalls.
Read How to Use a Personal Asset Loan for Your
Business and Read Carefully Before You Sign on the Line for advice on
avoiding financial minefields.
Angel Investors: The name says it
all. When an investor swoops in with needed seed money or capital, it can feel
like divine intervention. Studies estimate that angel investors provide 90
percent of all seed and start-up capital, compared to the venture capital
community, which invests less than 2 percent in start-ups. Where to find an
angel? Read How to Meet Angel Investors.
you successfully attracted investors for a start-up? Share
your thoughts here and at the Pendaflex Facebook
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Beyond FoldersTM is written by a team of Pendaflex associates
passionate about time management, communications, productivity and workplace organization. Believing in "continuous improvement" on both a personal and professional level, they share their unique perspectives on subjects of common interest to our readers.