by Carrie Hinkel on March 3rd, 2008
It’s often been said that a business’ first year is the hardest. There are issues with money, management, competition and a slew of other pitfalls just waiting to sink a new business. But, don’t get discouraged, being aware of these common stumbling blocks and learning how to avoid them will help you to be better prepared to survive the growing pains of your business’ first year.
Insufficient capital – It’s no surprise that this is one of the top reasons new businesses fail. And, for most, this problem could have been prevented by preparing a thorough business plan back when... Read more »
by Larry Slusser on February 19th, 2008
Businesses do not usually fail due to a lack of a business plan or incompetent management. It is usually due to a lack of capital. Of course you can start a business with little cash; however, there are some challenges you will be facing. Below are some of those challenges and suggestions on how to be successful without a lot of capital.
First, choose carefully a business where you do not have to invest a lot of capital to get it started. Obviously a franchised business will be out of the question. Be realistic about the type of business you... Read more »
by Leeia Ladipoh on October 23rd, 2007
Halfway between the thousands of dollars you will likely get from friends and family for seed money for your business, and the million and up you will get from venture capital once you reach the rarified upper stratosphere, there are angel investors. These are wealthy individuals who seek to gain profit by using personal fortunes to invest in a business with a great growth potential.
Angel investors are necessarily picky about who they choose to invest in, because of the high risk of failure at that stage in the development of any business. Friends and family seed money offers a... Read more »