If you’re like most diehard entrepreneurs, you’re never at a loss for incredible new business ideas. Funding, on the other hand, can be hard to come by. Finding the right funding solutions for your would-be business can be especially tricky. Here’s how the financial experts of James River Capital, including founder Paul Saunders, recommend approaching the process.
Bigger Businesses Call for Bigger Solutions
Size definitely matters when it comes to your potential funding options. If your next business venture is smaller in scale, you may be able to fund it yourself or have family and friends help you make up the difference. If not, a small business loan from your bank is usually a good option.
Mid-sized businesses and start-ups may require you to think bigger when it comes to your funding sources. Look into local resources available for businesses in your niche first. (Your chamber of commerce or local business development center can be really helpful here.) Angel investors or crowdfunding can also be good fits.
Know When to Have the Professionals Step In
If your next big idea is truly ambitious, meaning you require $1 million or more in funding, you’ll likely need to think even bigger. Venture capital is the ideal funding option for projects of this magnitude, but preparedness is key when it comes to impressing the right investors. If you already know someone who can help through your existing network, you can start your search there. Otherwise, you’d do better to hire someone more experienced to help.
Professional investment experts like the ones you’ll find at James River Capital can help you connect with the best investors for you and your future business. Top venture capitalists are always on the lookout for the next big thing to invest in. With James River Capital in your corner, your future business just might be it.