what is the best way to obtain venture capital for a business idea?
Posted by admin on 14 Oct 2008 12:11 pm. Filed under Small Business.
handsomebelly
I am looking for a guide on how to approach Venture capital firms with an idea for a business in the technology sector.
I am looking for a guide on how to approach Venture capital firms with an idea for a business in the technology sector.
One Comment to “what is the best way to obtain venture capital for a business idea?”
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On October 17th, 2008 at 8:05 am
First, write a business plan. An idea without written plan is not a viable business idea. Try to concise the business plan into major blocks of market, product/service, marketing plan, how to deal with competitor or lack of competition (brand new product/service), cashflow estimate, capital plan (seed or development or expansion), and –very important– brief resume of key people. No need to write lengthy pages. 2-5 pages are okay.
Second, bring plan to trusted friends and hear an honest feedback. If you get a nod, then you go to next step. If no, go back and refine your idea/plan.
Third, bring the plan to venture capitalists. Search available venture capitalist in the internet. Or you may send straight to Garage.com.