John’s lecture gave a good idea of process of getting money for the business. He outlined the order of resources we should use. First, the owner will try to save and invest money as much as he/she can. Second source would be friends and families that should give 25k to 150 k. Personally, I would probably like to skip this source due to chance of losing good relationship with friends and family members. Third source would be angel investor. I have never heard of those guys. They are private individuals who invest money in start-up businesses and meet the definition of accredited investors. Finally, the last source is Venture capital that could provide 4 million and up.
The article “How to Negotiate a Term Sheet” by Tom Taulli was also helpful. I didn’t know a lot about Venture Capitalist. It gave me a basic idea of the process and things I should be aware of. I realized that people can get in financial trouble if professional advice is not used.
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