John
Dimmer focused most of his discussion on financing a business. He is an entrepreneur that has been involved
in many tens of companies. He explained
how even though money is not the primary goal of starting a company as an
entrepreneur it is one of the primary concerned when trying to get a startup
off the ground. He is currently involved
with Angel Network and this company helps as an angle investment company for
startup companies looking for that extra financial push.
One of
the first ways he suggested getting funding is through friends and family or by
personal credit cards. Another way and
probably the second step you want to take if you need more money is to talk
with angel investors. This is probably
the best option for startup companies since they look to invest smaller amounts
compared to the $10s of millions that VC’s would like to invest. Last is Ventures Capitalists because IPO’s
are unobtainable by most. VC’s although
have tons of money they will want to have much more control over the workings
of the business and will look for reasons not to invest in your idea.
He did
focus on Angel investments since these are the more friendly types of investors
and what he does currently. He pointed
out that there are a few options when obtaining a loan from an angel
investor. One is a loan option another
is a stock option and finally there is a combination which is the smallest
gamble on the side of the angel investor.
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