February is Fantastic, with a capital “F”! Not to mention Love is in the air (insert heart emoticon here) but let’s be real... Love don’t pay the bills or Finance your dreams (insert serious face with an appropriate head tilt here). Last month I discussed various experts; their views on the value of business planning and I shared my opinion on the importance of business plans as they assist the serious entrepreneur become more profound in preparation for profitability. Coming from the notion that your business plan is a living document and investing the time in drafting a plan is a great step in positioning your venture for profitability. I present the next steps in manifesting your dreams. Finding Funding. I know this may seem overwhelming. I actually dealt with a few anxiety attacks this week myself but no fear here is a list of websites graciously provided by my Professor Bill Thompson to help your Journey #SharingIsCaring :
On these sites you can find a plethora of resources in regards to the “opportunity finance industry.” There are grants, loans, angel investors and even strategies to raise capital to help get your business up and running. Finding Financing for your venture hasn’t been easier. The above sites swill provide you with tools and resources to put you in front of people and organizations that are looking to invest in your project(s). You’ll also learn about conferences, career opportunities, business models, workshops and other industry mixers. Your network is your net worth. Here is my favorite organization of the ones listed OFN – the Opportunity Finance Network made up of Community Development Financial Institutions (CDFIs):
In their more than 30 years, OFN’s network of CDFIs has generated more than $34 billion in financing, with a net charge-off rate of less than 1% creating 720,000 jobs and supporting 120,000 businesses and microenterprises, 1.5 million housing units, and 9,500 community facilities. In 1973 they were established in Chicago and their rallying cry was “Lets Change the World.” At the time their mission was to provide financing to low-income communities and people and people left behind by mainstream finance seeds a billion dollar CDFI industry.
I’ve heard it said a time or two from some wise persons that people parish due to a lack of knowledge. For the religious I think the cross reference is Hosea 4:6 for the more spiritual its an Elder (a child or maybe even the trees) for the more secular its your cousin Ray Ray. The point I’m trying to get across is I would hate to see your dreams die because you didn’t have adequate knowledge on how to bring them to life, sustain them and pass them on to the next generation.
You can’t complain about people in power if you are not willing to invest in power. I’ll ask the question “Have you purposefully planned, positioned or developed your platform.?” If not, are you supporting those who have -? What steps are you taking to finance your dreams or the dreams of others?
Cheers to the Lessons Learned, your profitable business and a Fantabalous February
Rachael Yvonne Davis
Do you have a business plan? Have you presented to investors? If not why haven’t you started?
P.P.S. Thank you in advance for sharing this post - Also let me know about your next event and exciting opportunity and leave your comments and questions below. I just may answer your question in my next post. I'm also available for consultations to help point you in the right direction to get your financing started.