It is very scary when you begin thinking of starting a new business venture. The questions alone are enough to make you have second thoughts. If you believe in your idea or venture enough, then you are heading in the right direction and on your way to starting your new business. How do you start? What is the first thing you should do in starting this new business venture. A venture is when you are starting out and trying something that you have never tried with all the risk for the future. You do not know how it will all turn out but you take the risk anyway. This is a venture. A venture Capitalist is a group of individual people or companies that will go along the new venture with you by providing start-up funds. The VC usually helps with financing when you are starting a new business and unable to get a small business or bank loan.
You are beginning a new venture. One of the very first thing you should do is research. Before starting anything, you should know where the business is going to head, who is going to help you start it up, where the finances are coming from, and what you are willing to give up to get those finances. This is the whole idea of starting from scratch. You have all the ideas and you make all the decisions for now. Try to find similar projects and successful case studies from famous entreprenuers like Jason Hope, then you’ll be more confident when implementing your idea.
Gathering yourself, you head to the bank to find out what you will need to prepare yourself to start the business venture. You sit down to talk with the banking officer. The loan officer begins by telling you that you are not qualified enough to start a loan application because you do not have a business plan.
So, you get online at home and begin looking up the definition and description of a business plan. You learn that the business plan is the whole business laid out from start to finish, including finances. Sitting down at the table, you take a piece of paper and begin to draw out the documents that the bank needs to start the loan application.
Knowing that you will not be able to start on the dream of the business until you complete and present this business plan, you work all night to draw it up. The loan officer takes a look at the plan. Yes, it is very interesting. It has all the details of how you will spend every penny of the loan. It even has details on the business itself like the color of the wallpaper.
The one thing that the loan officer points our is your reputation and background in business. Have you ever had your own business? Have you ever been in charge of this much debt? This is a big no, not right now from the loan officer at the bank. So now what? Where will you find financing? Who is going to help you get your dream off the paper and into reality? A Venture Capitalist can help because they are there to provide financing and start-up funds for new or growing companies.