If you want to raise capital for a business, you need a well-written business plan. Someone must check your plan too. You need to write a maximum of ten pages. The people who are going to read your business plan are busy. They do not want to wade through statistics and duplicated data that you copied from the Internet. Your business plan must be concise in order to create the best business plans ever.
You also need the help of an accountant, someone with a strong financial background. You need a person who can do numbers. If you cannot do it, you need to have access to someone who can do it. Before going to the venture capitalists, you could use the following sources of funding:
1. A bank that cooperates with the SBA (Small Business Administrator) or your own bank. These are cheap sources for funding. Many times, you might not get access to these funds when needed and in the amount that you want them but chances are the SBA is very friendly in terms of lending.
2. Friends and family members. These people love you. They might believe in you or your idea. However, getting a co-signer from your friends and family members is not a good idea. This is a very risky strategy.
3. Venture capitalist. If you need $700000 fast, venture capitalists are the way to go. They are entrepreneurs who are able to see your visions. They are not obsessed with collateral and can connect you with the lenders they work with.
4. Credit cards. If you need a small amount of money, then credit cards are good options. You do not need any kind of collateral with credit cards. However, you need a lot of discipline to repay your high interest rates as quickly as possible.
5. Stocks. This strategy is very hard to do right. You need expert advice to deal with this matter. You also have to hire an attorney and an experienced accountant.
You can use these strategies to fund your best business plans ever. Make sure though you know how to write a correct business plan. If you do not have a clue about how to do it, you can hire an expert at Odesk.com. You just need to make sure that he or she has good ratings and a lot of experience in this field. Take action and profits from this information may present itself to you in a short period of time.