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The 3 F's- Friends, Family and Fools

Raising money

What is the biggest hurdle to start your business? Most people we talk to say it is money, or more specifically the lack of money. They have a great idea. They have a big dream. But instead of taking the first step, they will spend the rest of their lives waiting for a million dollars to fall from the sky so they can get started.

We get it. It is hard. The vast majority of people are not born into material wealth. Hence, when they begin their first new venture, there is no massive bank account to help them get started.

Two encouragements.

Start small- Dream big. Start small. Can you launch your new business while you continue your day job? Instead of starting with a restaurant, can it be a food truck? Or a cart? Or a table? Find ways to test your ideas and make mistakes with smaller amounts of money. That will give you some credibility when you start number 2.

3 F's- Friends, Family and Fools. We hear stories about businesses that were funded by angel investors and venture capital. We hope that we will eventually stumble into a tech mogul who will happily fund our new idea. The reality of most small businesses is much smaller and messier than that. You start with your friends, family and hopefully a few fools. Start sharing your new dream and idea with everyone you know. You might eventually find a people who love you, believe in you and are willing to put up the funds to help you start or grow.

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