Thanks to the Internet and the advent of social networking communities, raising capital to start or grow a business has never been easier. These days, there is really no limit on how small or big an idea is, and there is a high likelihood that some outside party will be willing to fund at least a part of its development. There are opportunities to raise money from individuals, as well as sophisticated shops that specialize in funding venture capital endeavors. Below are five tips to help find that capital.
SEE: How Venture Capitalists Make Investment Choices
Create Your Business Plan At the risk of sounding obvious, success in obtaining funding stems directly from how strong the business idea is. The best way to investigate this is to get a detailed business plan together. The basic points of a plan include a summary of the company or opportunity, industry overview and details of the strengths, weaknesses, opportunities and threats (SWOT) facing the venture, as well as a financial overview, including past performance (if available), and projections for at least the next five years.
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