hi I’m Evan Carmichael welcome to
another edition of ask Evan in today’s
episode I’m going to answer question
from one of our readers Tommy who wrote
in on the Telus talks business blog with
a question now this particular post is
brought to you by tell us they have a
new challenge for the given away a
hundred thousand dollars to a Canadian
business who could talk about the
challenges they’re facing and how they
could use one hundred thousand also help
them I’m one of the judges so make sure
you go in and boats talk a little more
but at the end of the video so Tommy’s
question is about raising capital he is
an entrepreneur with a golf clothing
line and one my advice on how to raise
money for the business so Tommy a couple
things to think about first off you have
to know what investors will finance and
depends on what stage you are with your
business if you’re looking for money to
grow your company’s you’ve already you
know set up a business and you’re
looking for money to expand it that’s
easiest type of money to get marketing
money expansion capital is the easiest
type of money to be able to get to grow
company if you’re in the startup page
you’re not quite sure what you’re going
to do you haven’t Sochi suppliers yet
that’s really early stage and it’s not
that it’s impossible to get money for
it’s just a lot harder and they’re going
to take a lot more of your business so
if you’re expanding or if you’re close
to the expansion phase you can position
yourself as already having a business on
you need money to expand you’re more
likely to get better terms and more
money so that’s kind of the first thing
to think about you’re probably in the
angel investor category so you can get
money from venture capitalist angel
investors which are wealthy individuals
who want to invest money instead of in a
stock market into companies you can go
to banks you can go to a couple other
companies this is probably too small for
a venture capitalist to look at but you
might get an angel investor usually
angels will invest anywhere up to half a
million dollars that’d be a really big
angel but anything less than that you’re
looking in the angel realm and not
venture capital and what’s important is
that you try to find somebody who can
give you more than just money so it’d be
great to get the money
you need but you want someone who can
also give you contacts and experience
and can you know help your company grow
beyond just cutting you a check so
sometimes angels are dentists or doctors
or people with disposable income and
they may not have a passion for golf and
just want to see a return those aren’t
the ones that you want to go after you
want to go up to people who you know
understanding industry and can help you
make some sales open some doors for you
as well as give you the money that you
need so those are potential angels the
last thing I think about is you may not
need to get funding for this trying to
raise capital can be a full-time job for
your business and takes a lot of your
time away from you able to actually run
your business since you’re running a
golf apparel company I think that you’d
be able to go get some corporate
sponsors golf in such a golf is such a
corporate game that I would try to go
after corporate sponsors to buy the
shirts right put their logo on it
whatever response to the shirt at their
upcoming golf tournament their charity
events and that might be a way for you
to get your customers to help you
sponsor and fund your business instead
of having to go to not you’re trying to
raise capital for so a couple things to
to think about I hope that helps if you
guys are interested in that $100,000
contest is for Canadian entrepreneurs
you can go to the global mail com / the
challenge and the details are there how
you can enter and I’m gonna be one of
the judges so I want to see you guys in
there entering your your entries to see
how well you guys are going to do so
good luck and if you guys like this
video please give it a thumbs up below I
love seeing those come in and if you
have a question or you have something
else to add to commies question feel
free to leave it in the comments below
and we’ll see you on the next episode
you
another edition of ask Evan in today’s
episode I’m going to answer question
from one of our readers Tommy who wrote
in on the Telus talks business blog with
a question now this particular post is
brought to you by tell us they have a
new challenge for the given away a
hundred thousand dollars to a Canadian
business who could talk about the
challenges they’re facing and how they
could use one hundred thousand also help
them I’m one of the judges so make sure
you go in and boats talk a little more
but at the end of the video so Tommy’s
question is about raising capital he is
an entrepreneur with a golf clothing
line and one my advice on how to raise
money for the business so Tommy a couple
things to think about first off you have
to know what investors will finance and
depends on what stage you are with your
business if you’re looking for money to
grow your company’s you’ve already you
know set up a business and you’re
looking for money to expand it that’s
easiest type of money to get marketing
money expansion capital is the easiest
type of money to be able to get to grow
company if you’re in the startup page
you’re not quite sure what you’re going
to do you haven’t Sochi suppliers yet
that’s really early stage and it’s not
that it’s impossible to get money for
it’s just a lot harder and they’re going
to take a lot more of your business so
if you’re expanding or if you’re close
to the expansion phase you can position
yourself as already having a business on
you need money to expand you’re more
likely to get better terms and more
money so that’s kind of the first thing
to think about you’re probably in the
angel investor category so you can get
money from venture capitalist angel
investors which are wealthy individuals
who want to invest money instead of in a
stock market into companies you can go
to banks you can go to a couple other
companies this is probably too small for
a venture capitalist to look at but you
might get an angel investor usually
angels will invest anywhere up to half a
million dollars that’d be a really big
angel but anything less than that you’re
looking in the angel realm and not
venture capital and what’s important is
that you try to find somebody who can
give you more than just money so it’d be
great to get the money
you need but you want someone who can
also give you contacts and experience
and can you know help your company grow
beyond just cutting you a check so
sometimes angels are dentists or doctors
or people with disposable income and
they may not have a passion for golf and
just want to see a return those aren’t
the ones that you want to go after you
want to go up to people who you know
understanding industry and can help you
make some sales open some doors for you
as well as give you the money that you
need so those are potential angels the
last thing I think about is you may not
need to get funding for this trying to
raise capital can be a full-time job for
your business and takes a lot of your
time away from you able to actually run
your business since you’re running a
golf apparel company I think that you’d
be able to go get some corporate
sponsors golf in such a golf is such a
corporate game that I would try to go
after corporate sponsors to buy the
shirts right put their logo on it
whatever response to the shirt at their
upcoming golf tournament their charity
events and that might be a way for you
to get your customers to help you
sponsor and fund your business instead
of having to go to not you’re trying to
raise capital for so a couple things to
to think about I hope that helps if you
guys are interested in that $100,000
contest is for Canadian entrepreneurs
you can go to the global mail com / the
challenge and the details are there how
you can enter and I’m gonna be one of
the judges so I want to see you guys in
there entering your your entries to see
how well you guys are going to do so
good luck and if you guys like this
video please give it a thumbs up below I
love seeing those come in and if you
have a question or you have something
else to add to commies question feel
free to leave it in the comments below
and we’ll see you on the next episode
you
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