By Abbey Fatica
In order to continue on your journey to finding funding for your idea, you must have completed step one. There is no reason to rush into this next step until your business plan and power point presentation is nearly perfect in your mind. As we learned during the process, you have to make your presentation short and sweet but REALLY eye catching.
One key factor that you must remember is that investors get tons of pitches every day and you have to make yours stand out from the crowd. Sure you’ve heard that before but it’s true. I have sent out literally 400 pitches and I’ve only heard back from a handful of these companies. Since my partner and I live in different cities perfecting our Deck (the word investors use for Power Point presentation) took many emails back and forth for about 3 days straight. This is not something you go into lightly. We did not work on anything else until we knew that our information was good to go and were comfortable enough to send it out to potential investor.
I remember one day, I told my children that mommy had an important project to work on and that I would play with them once I was done. This process can be hard to explain to a 4 year old, 2 year old and 1 month old, but I said to them that it will be worth it in the end when Mommy gets her work done. Yes, I might have thrown on a couple Disney movies to be a babysitter but if your idea is important then it’s ok to take a full work day to get it done.
First I will give you a quick list of where to begin your search. If I had a list like this of what to search then beginning the process would have been so much simpler. I had to start from scratch because I knew nothing about the funding world.
Google will become your best friend while you are looking for different firms and/or means to invest in your cause.
Things to search for:
- Angel Investors
- Venture Capitals
- Business Incubators
- Seed Capital
- US Small Business Grants
- Small Business Grants for Women
- Celebrity Backers/ Endorses
- Where did *so and so company* (like Facebook, Pinterest, Instagram, etc) get investors
Those are great places to start but this is definitely not an exclusive list of where else you can find money to fund your business.
Other options you might have are:
- Personal Investment
- Friends and Family
- Applying for TV Shows like Shark Tank
- PR on TV Shows, Radio, and Print Media
- Doing Searches and Browsing on Facebook, Twitter, and LinkedIn
- Visiting Business Websites like Inc.com or Forbes
This is just the beginning, follow me during the course of this series to find out how each of these options either got us somewhere or was something that just didn’t work for us AT ALL.
Use the info or don’t use it but at least enjoy our long and arduous journey along the way. There are good days and bad days when it comes to funding but if you are persistent then trust me there will be someone out there who loves your idea just as much as you do.
Abbey Fatica balances her time everyday between her husband, three kids and her businesses. Yes, businesses! Ever since she started working from home and being her own boss in 2009, she has started companies like Living Your Moment and TrackerSphere working with brands and bloggers enhancing her clients visibility through social media channels. Her newest venture includes writing a nine part book series called Life Well Blogged, a collection of humorous blog posts. While she is all over on social media, you follow her currently on Twitter @LifeWellBlogged and on Facebook at Life Well Blogged.