When It's Time to Raise Capital
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All entrepreneurs want to grow their businesses, but make sure you grow yours the right way. To understand what to keep in mind, here are two questions to ask yourself from our recent Google hangout on raising capital.
1. Have you proven yourself? Do you have an idea that’s already been validated? Marc Nager, CEO of entrepreneurship nonprofit UpGlobal says he loves to see entrepreneurs who can combine their vision for high growth with real-life traction. He suggests you nail your first phase and use those lessons to plot your roadmap for expansion. He says, “That’s the most efficient use of capital.”
2. Do you know what you want? Certain funding options might not be a fit for your company, especially if you’re not looking to sell to Apple or Google. Wole Coaxum, a business banking executive at Chase, explains that lending can be a better and cheaper option for certain companies looking to make a good product and deliver solid returns.
For more insights, watch this short video.
This article is editorial content and reflects the personal views and opinions of the participants.