Whether you have big dreams or small dreams, finding the right investor for your business is key to making them happen, and knowing where to look makes all the difference.
Step 1: Write a business plan Write a business plan outlining your vision, how you brand, your customer base, team, and revenue stream, and how much money you need to support your plan or idea.
TIP: Find help writing a business plan from books, software, or through a local business advocacy organization.
Step 2: Ask family and friends Ask family and friends with available resources to invest in your business.
Step 3: Network Network like crazy. Contact your bank, chamber of commerce, members of any business organizations you belong to, and online social networking sources.
TIP: Get a referral from a respected business owner to break the ice with potential investors.
Step 4: Target your quest Target your quest to find business investors that are good matches to your plan, such as industrial investors for a manufacturing project, or investors concentrating within your geographic region.
TIP: The average investor is a retired entrepreneur.
Step 5: Conduct Internet search Conduct an internet search for investors and investor organizations, and take advantage of online submission opportunities.
Step 6: Contact your SBA office Find contact information for your area's Small Business Development Center at sba.gov to pursue investor connections, or ask your state economic development agency for resources.
Step 7: Give investors a reason Give investors a good reason to support your business and be prepared to detail their return on the investment. A great pitch aimed toward meeting an investor's goals will take you a long ways in getting your project on its way to success.
FACT: As of 2007, small businesses in the United States accounted for 44 percent of the private payroll.
You Will Need
or a local business advocacy organization (optional)