OK so you have been brainstorming for a business idea, and you have finally come up with one. Only now you need to finance your idea and you need to wear and how to get the money?
Let’s look at the advice of Paul Saunders: Founder and CEO of the James River Capital who has some information regarding how starting entrepreneurs can gain business funding. Learn more: https://www.cbinsights.com/investor/james-river-capital
Information regarding Paul Saunders:
Paul Saunders, the owner and founder of James River Capital, a successful investment firm which is registered as an Investment Advisor with the SEC, a Commodity Trading Advisor, and a Commodity Pool Operator with the CFTC (Commodity Futures Trading Commission).
James River Capital is based out of Richmond, Virginia.
Paul Saunders is uniquely qualified for this subject in finance, as he has had dealings in investment banking and trading and manages a very successful diversified portfolio through his company.
Paul is so passionate about philanthropy, he created the Saunders Family Foundation to support multiple charitable organizations.
Paul Saunders has the following suggestions for seeking money to fund your start-ups:
Attempt to get the money without a loan. Asking family, and friends would help, also is there a way of you selling an existing product or service to fund your start-up business.
Networking through local business associations may also help you find someone to sponsor/fund your start-up
Apply for a Loan:
You can always apply for a loan, try the SBA (Small Business Administration)
Banks, with a well thought out business plan, a bank may give you the loan you need to finance your start-up. Also going to the Chamber of Commerce as they can get you in contact with local business incubators, business events and meet-ups/gatherings of people who could sponsor your start-up.
This is where you basically sell a percentage of your business (stock) to an investor which has it’s pros and cons. Pros meaning you can benefit from the investor’s finances, contacts and networking to move your start-up forward. Cons are, the investor is tied to your business and might have a say in the day to day operations in how to start-up business operates.
Starting and building a start-up can be challenging and difficult, however, it can be done.
Paul recommends you concentrate on the type of company you want to build and grow, the product or service you are trying to nurture, and that may help you generate ideas for successful financing of your idea.