Securing funds for a new business sometimes means taking a few extra steps to get noticed. Gary Brackett, Leadership Coach, Founder of Champ CEO, and former Colts’ linebacker, gives his tips on securing funding on today’s “Access to Capital” segment.
If you’re thinking about approaching an investor to secure funds, Brackett first advises to start small. He says it takes time to build your business, and that a good way to convince an investor is to start with an MVP, or Minimal Viable Product. What product or service could you start off small, build some numbers and clients, prove that this model will work, then approach with an idea that’s already been proven.
Proving the model will help to generate more interest and negotiate better terms with investors. In sum, Brackett advises to start small, prove the model, and do the work to build value.
Also, Dr. David Hampton, Executive Director of LISC Indianapolis, discusses what it takes to have economic empowerment and resiliency. LISC Indianapolis has several resources for small businesses that include funding. You can find more information about them here.
For more information about Gary Brackett, click here.
This information is presented by Gary Brackett and Dr. David Hampton.