hi I’m Evan Carmichael and welcome to
another edition of ask Evan in today’s
video I’m going to answer question from
one of our readers you know who is
trying to raise capital and asks I need
ten thousand dollars to establish my
organization which deals with talent
that’s acting creative writing poetry
singing dancing modeling I’ve written
some scripts that need to produce under
my organization using actors and
actresses in the organization and also
produce some other projects with the
above talents so he’s asking about
raising capital and my thought here is
your honesty your best bet is bootstrap
this thing start up capital is the
hardest money to raise you end up
spending most of your time out there
trying to raise capital and you get a
really bad valuation if you’re going to
get an investor an angel investor to
give you money they’re going to take a
big chunk of your company because you
don’t have anything yet you don’t have
money coming in and if you’re going to
go into a bank you’re going to go to
another organization is going to lend
you money because you’re so new you’re
going to probably have really high
interest rate to you always get the
short end of the stick when you’re
trying to raise capital as a start-up my
best advice of you would be trying to
boot strap it up try to focus on the
services that you can do without
spending money and as a new business I
hate spending money before making money
you know you might have to do a web
sites and business cards but try not to
spend any money until you have money
coming in and that way you know that
your product your service is working is
a lot of entrepreneurs will spend tons
of money on an idea they think is great
and then nobody wants to buy it so
you’ve flushed all this money down the
toilet and so if you can focus on your
making money first even if it’s a little
bit and invest in those rockets back to
the business you know you’re going after
market where you can actually make some
money so try to focus on those services
instead of products the start because
there’s no investment besides your time
and I would strongly encourage you to
try to boot strap it up to the point
where you have that money coming in and
then you can invest your profits back
into your company
so maybe not what you want here but the
best advice that I can give you based on
the question that you asked so I hope
that helped I’d love to hear your
thoughts and feedback you want to leave
a comment below and please give it a
thumbs up too if you like the video and
stay tuned for the next episode
you
another edition of ask Evan in today’s
video I’m going to answer question from
one of our readers you know who is
trying to raise capital and asks I need
ten thousand dollars to establish my
organization which deals with talent
that’s acting creative writing poetry
singing dancing modeling I’ve written
some scripts that need to produce under
my organization using actors and
actresses in the organization and also
produce some other projects with the
above talents so he’s asking about
raising capital and my thought here is
your honesty your best bet is bootstrap
this thing start up capital is the
hardest money to raise you end up
spending most of your time out there
trying to raise capital and you get a
really bad valuation if you’re going to
get an investor an angel investor to
give you money they’re going to take a
big chunk of your company because you
don’t have anything yet you don’t have
money coming in and if you’re going to
go into a bank you’re going to go to
another organization is going to lend
you money because you’re so new you’re
going to probably have really high
interest rate to you always get the
short end of the stick when you’re
trying to raise capital as a start-up my
best advice of you would be trying to
boot strap it up try to focus on the
services that you can do without
spending money and as a new business I
hate spending money before making money
you know you might have to do a web
sites and business cards but try not to
spend any money until you have money
coming in and that way you know that
your product your service is working is
a lot of entrepreneurs will spend tons
of money on an idea they think is great
and then nobody wants to buy it so
you’ve flushed all this money down the
toilet and so if you can focus on your
making money first even if it’s a little
bit and invest in those rockets back to
the business you know you’re going after
market where you can actually make some
money so try to focus on those services
instead of products the start because
there’s no investment besides your time
and I would strongly encourage you to
try to boot strap it up to the point
where you have that money coming in and
then you can invest your profits back
into your company
so maybe not what you want here but the
best advice that I can give you based on
the question that you asked so I hope
that helped I’d love to hear your
thoughts and feedback you want to leave
a comment below and please give it a
thumbs up too if you like the video and
stay tuned for the next episode
you
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