Here’s our weekly link roundup of small business buzz, musings and muchness. A curation of the best small business talk around the web.
How to Get Funding: 3 Ways Successful Entrepreneurs Close Deals Faster
“When looking for investors, entrepreneurs used to have a tendency to sign with the first VC who came through the door with money. Today, that’s seldom the case. Instead, startups and entrepreneurs weigh a number of options when choosing an investor, namely operational expertise, the extent of their network, access to customers, financial partners and industry expertise. Consequently, private equity and venture capitalists have to build capabilities to complement their financial resources in order to stand out from the crowd and attract the best companies to their portfolio…” (The Huffington Post)
5 Lessons From Managing Our Startup’s Rapid Growth
“Within our first month of publicly launching Ministry of Supply in June 2012, we sold more than 6,000 shirts and gained 4,000 customers. Our company grew fast because it had to. We were an adolescent trapped in a baby’s body and we had to learn how to sprint before we could learn how to walk, and we had some serious growing pains as we tried to scale production from 300 to 6,000 shirts a month. However, we quickly realized that by empowering our customers and empowering everyone at our company, we could truly grow the way we wanted.” (Forbes)
Outsourcing Frees Small Business Owners to Focus
“Small business owners like to think they can do it all, but even the most organized business owners sometimes need some help running their businesses. To get that help, many business owners have turned to outsourcing. While the word may evoke images of sending work overseas, small business owners can actually use outsourcing to their advantage by sending work-related functions to companies that have the professional expertise to handle them.” (Fox Small Business Center)
Crowdfunding Expands Access to Capital for Women, Minority Entrepreneurs
“The growing popularity of crowdfunding has created a new fundraising mechanism for women and minority entrepreneurs, groups that have at times felt ostracized by the more traditional ways of raising money to start or grow a business… Crowdfunding requires an entrepreneur to mine his or her social networks and use online marketing to collect small sums of money from a large pool of individual investors. There are no credit barriers to clear or wealthy contacts to tap.” (Wall Street Journal)
5 Bootstrap Ways to Fund Your Startup
“Whether your million-dollar idea is selling granola or software, you likely share a common fear with new business owners across the world: money. It’s not easy to cover bills and expenses as you build your startup to success. And startups are rarely profitable from the get-go. But plenty of entrepreneurs have found creative ways to self-fund their businesses. Try one of these methods to bootstrap your own startup without going broke and follow in the footsteps of other successful entrepreneurs…” (Business Insider)
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