Where to Get Money + Advice to Jump Start a Struggling or Stagnant Business
Silicon Valley, February 10, 2016
If you’re like many owners, chances are your business is not reaching its full potential. You know that if you only had some more capital, or perhaps some helpful advice from wise mentors (or other experienced owners that have been what you’ve been through), things could be much different…Much better and more profitable.
Owners typically go about seeking money to improve the business or get it unstuck. After helping grow 300 businesses in the past 3 years, we’ve noticed a few key trends. The best remedy is almost always a combination of money AND help. Money can do a lot, but often we find there are things eating up the money, and those things don’t require any money to fix. Someone like us that has run and worked with so many businesses can instantly spot patterns and know exactly WHAT to fix, improve or implement, and HOW.
When world class mentorship, advice and key connections are brought into the mix, the amount of money required can decrease significantly, which means YOU don’t have to pay or give up as much equity for that capital.
Furthermore, when you are funded by someone with the experience and solutions to get your business growing, they can help you decide WHAT & WHERE to best invest the capital. Sometimes money can accelerate your problems, if it’s not allocated to the right things.
Lenders typically give you money, and don’t care what you spend it on so long as you pay it back.
Angel investors and venture capitalists often provide the advice and resources along with the capital. This works best if you’re a business owner who recognizes that you don’t know everything, and you are open to suggestions, recommendations and helpful advice. Of course, if you believe all you need as money and nothing more, then a lender is probably your best bet, since they don’t get involved once they fund you.
Just keep in mind, on the hit CNBC business show The Profit, Marcus Lemonis takes 100% control of your business, so when angel investors ask you to consider heeding helpful advice when they give you money, they are not being unreasonable.
Find Money Plus Free Advice Here
Sometimes a loan makes the most sense for your business, because you don’t have to give up any equity or other reasons, but you would still like to get some advice along with the money. Well you can, at the Business Funding Symposium 2016.
It’s 2 days of high-level free advice for business owners, plus an opportunity to pitch VCs, angel investors and lenders. Many business owners find the opportunity to to be much better than chasing money randomly from various sources one at a time. There’s a lot to consider when accepting capital, and one advantage of attending BFS 2016 is that all the options and pros and cons are explained.
Another big advantage is that many sources of capital are in one place vs scattered all over the place. Even if you had contact info for all of them, hunting them down and pitching them all once at a time would take an eternity.
BFS 2016 provides you the opportunity to pitch more than one investor or lender at time, which not only saves you a lot of time, but having investors in the same room can actually sometimes get them competing to fund you, like you sometimes see on the Shark Tank TV show.
For these reasons, Manchester Capital Ventures, a Silicon Valley-based VC firm that hosts BFS 2016 says that attending is likely your best chance of funding, since you will have so many options and so much money in the room looking for businesses to fund.