Yes, this is absolutely right. Read more about this on the next page.
Sorry. Bankers won’t be interested until you have financial records and tax returns to prove at least several years of profitable business operation.
Sorry. Venture capitalists are experienced business investors who will require detailed financial records to prove at least several years of profitable business operation.
Sorry. That’s not realistic. If you’re counting on winning the lottery, you’ll probably never do anything but talk about starting a business “some day.”
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| Lesson 9 Screen 6 | |
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1. Seed or Concept Stage Have you ever been in a conversation along the lines of this? You say, “I’ll bet an xxxxx business would work.” Then maybe somebody would shoot back, “I know xxxxx would sell like crazy.” Then someone says, “Hey, that’s a great idea! You could probably sell dozens of xxxxx to people around here.” These are fun, no-obligation conversations. Better yet, they occasionally lead to the development of a business idea that could really work. But in order for this tiny seed of an idea to grow, you not only have to talk the talk, you must also walk the walk. The way to begin walking is to do your research and develop a business plan. Tasks you need to accomplish in seed stage include:
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What type of financing is likely to be available to you at seed stage? |
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