Monday, November 28, 2011

What's the Best Way to Find Startup Money?



Seek an advisor first, before you seek an investor. Find someone local with related experience -- maybe an attorney or a counselor at the nearest Small Business Development Center.

Check references and ask for recommendations so you get somebody you can trust. Only someone with experience and with his or her feet on the ground, the same ground you're walking on, can help you decide whether the payoff of your patent with 3 percent royalty is your best option or not.

Talk to several people, and ask them real questions. Get a sense for their experience, preferably related to sporting goods. Don't be shy about checking references.

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