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Using Venture Capital to Fund Your Business

If you have obtained the maximum amount of funding assistance that you can from family, friends, your bank, and business angel, and the remaining amount required exceeds $100K, then you may be a candidate for a venture capitalist. Although different firms deal with varying amounts, venture capital is normally reserved for very large investments. Not only that, but quite often the funds are only available for business that are past the initial, or seed, stage.

When Funding Becomes Necessary

There may have been times when as an early stage entrepreneur or someone who wanted to start a business, but hadn’t, you’ve felt the need for some capital to help you get going. It may surprise you to learn this, but you’re in good company. Many people in various stages of their businesses have felt this way.

Getting the Business Help You Need

Although every business is different, it’s remarkable how similar their problems are. In the beginning, nearly all of them struggle with product creation and/or delivery, as well as generating sales. They never seem to have enough marketing resources or, if they do, they don’t know how to use them; and nearly all of them reach a point where they either need to start hiring people or outsourcing the work. Very often, this presents a worrying dilemma.

3 Ways to Find An Extra Pair of Hands

Among the reasons why some businesses call in management consultants, there is one that has some legitimacy. It is what has become known as “an extra pair of hands.” It simply means that the company knows what it wants to do and has the will to do it, but for one reason or another doesn’t have anyone it can spare to actually accomplish it.

Using Business Angels to Build Your Business

If you’ve already approached your family, friends, and your bank for funds to help your business, and are still a bit short, then your next step is to approach business angels. These are people who have built one or more successful businesses themselves, and would like to diversify their interests elsewhere. A given business angel might be willing to invest up to $250K, but will usually feel more comfortable sharing that risk with other angels.

Using Your Bank to Build Your Business

This may not be the best time to talk about money and banks in the same breath, but they are still a recommended source of funding for small businesses. Lending certainly has dried up from what it was just a few years ago. The behavior of some banks for some has reinforced the opinion that they try to give you money when you don’t need it, but insist on taking it away when you do. But you should at least consider what they can offer you.

Bringing Your Friends Into the Business

You’ve probably had thoughts already about how to involve your best friends in your business. After all, if you like to hang out together; why not make some money in the process. One way to do this is to think about it in the early stages of your preparation, before you’re even in a position to hire or outsource work. Give them first refusal to become involved, either by participating directly or through investment. It’s not as far-fetched as it may seem.

Make Your Business a Part of the Family

The idea of bringing members of your family into your business may be a terrifying thought, and there’s no question that in some instances it’s entirely inappropriate. But, just because there are a few bad apples doesn’t mean you should stop eating them altogether.

Management Consultants: Strengths and Weaknesses

Have you ever wondered how management consultants approach the challenges that organizations give them? For all the highfalutin language they use, you’d expect the methods to accomplish fantastic results. Sadly, this is seldom the case. For a decade at least, they’ve been the cousins of lawyers, charging huge fees which make them wealthy while impoverishing their customers. How could this occur?

3 Reasons Why Firms Use Management Consultants

Why would a manager, a company, or any other organization use management consultants? After all, wouldn’t you expect that the people doing the job would know more about it than someone sitting on the sidelines? Perhaps surprisingly, there are three common reasons why management consultants are brought in: 1) they want to blame someone; 2) they need an extra pair of hands; and 3) they really do need help.

How to Hire a Management Consultant

It may be that despite being cautioned about using management consultants, you still feel that they could benefit your company; and you know what, that’s perfectly okay. As long as you do it with your eyes wide open. But, i that’s what you’ve decided to do, then you’ll need to know how to go about it.

How to Pay a Management Consultant

Perhaps you’re seriously thinking of engaging the services of a management consultant or you know someone who is. If you’ve had little or no experience in this respect, then you could do with a bit of training on one very important issue, namely, how do you pay that person. Although this may seem blatantly obvious, things are seldom what they appear to be. Because you want value for money, this article will be of interest to you.

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