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, shares his tips for getting funded in today’s “Access to Capital” segment.
If you’re considering approaching an investor for funding, Brackett advises starting small first. He says it takes time to grow your business and a good way to convince an investor is to start with an MVP, or minimum viable product. What product or service could you start small, build numbers and customers, prove that this model will work, then approach with an idea that has already been proven.
Proving the pattern will help generate more interest and negotiate better terms with investors. In sum, Brackett advises to start small, prove the model and do the work to create value.
Additionally, Dr. David Hampton, Executive Director of LISC Indianapolis, explains what it takes to have economic empowerment and resilience. LISC Indianapolis has several resources for small businesses that include financing. You can find more information about them here.
For more information on Gary Brackett, click here.
This information is presented by Gary Brackett and Dr. David Hampton.