If you’re really ready to soar, you might be at a point in your biz building that you need to nail down your financing. First, before anything else, you need a compelling pitch. The net-net is that you need to identify the market pain, the unique solution you offer, and why your team is so well suited to remove that pain.
Be sure to have 5 years of revenue forecasted, and explain your sales and marketing plans to achieve your revenue targets. With this info you can go to any number of sources (http://www.Prosper.com, other micro lending sites, and of course to a bank you have a strong relationship already established. If your deal looks super compelling, and thus lower risk, you’ll get the money. You may also want to offer the opportunity to friends and family, if you are looking for a fairly small amount. Be sure to paper this carefully, with specific terms so you won’t damage any relationships!
If you’re totally ready for this next step, feel free to download my Pitch Critique Template to help you get started.
Christine Comaford, Biz Accelerator CEO of Mighty Ventures, Inc. NY Times Best Selling Author
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