hi I’m Evan Carmichael welcome to
another edition of ask Evan in today’s
episode I’m going to answer questions
from one of my four meters Kyle who runs
an auto company and wanted to raise
money between a quarter million to half
a million people to buy more cars so we
can sell them again at a profit and one
of my advice on how to raise capital go
and do it he said in the past has gotten
bank loans but the the market isn’t
working for him anymore is not able to
get the bank loan so one of my bison
getting it through private equity which
is great so private equity means angel
investor or venture capitalists for this
situation that amount of money you’re
not looking at the venture capital so it
can more on the angel side you may not
get one person to put in a quarter
million or a half a million so maybe a
collection of people but definitely
something that people could be
interested in if you can show them the
return on investment so know that you’re
going after kind of rich individuals who
have you know hopefully an interesting
cars and can be able to afford to drop
50 100 200 you know 2 and $50,000 into a
new venture the next thing is what
people will finance and you’re in an
ideal situation here where you’re trying
to expand the business so the hardest
type of money of the race is brand-new
startup hey I have an idea but haven’t
proved anything yet where you’ve already
done this before you’re looking to
expand and you’re you know you need
money to grow your business that’s the
easiest type of business to be able to
get money from so in that since you’re
in a good position and trying to go out
there and find these angel investors a
lot of these deals are done by word of
mouth in some cities depending on where
you are there are some angel groups so
you can go and present – and each a new
group has their own format if it’s over
dinner or a conference or whatever it is
but most people are not part of an angel
group and for the reason being most
people are angel investors if you know
the minute they go on and say hey I’m an
angel investor they’re gonna get
bombarded with business plans right
everybody’s gonna be sending them
business plans so most angel investors
prefer to rely on word of mouth people
to get deal flow so you want to be able
to start talking to people who are
potentially connected to angel investors
and a good source is to look at business
lawyers and
because they see a lot of different
entrepreneurs and often entrepreneurs
are great source as a potential angel
investor for you so let them know what
you’re doing let them know you need
money put it on the radar talk to a
couple of you know accountants and
business lawyers in your city so they
know who you are and even the general
public you know as you start talking to
people the more you tell people
specifically what you’re looking for the
easier it is for them to help you you
put it on their radar screen so the next
time you know they’re talking to someone
who might be a potential investor they
can say hey I met this guy Kyle it’s got
this great idea maybe you should connect
so you want us to get in the word out
there but especially to guys like
accountants and lawyers when you’re
bringing on in an investor you want to
make sure that they don’t just give you
money but hopefully can add something to
your business experience connections
built with some doors from you can maybe
get you some good prices on the cars or
can get you some bulk sales or whatever
it is they think they can add to your
business beyond just giving you money so
that’s always a big boost so you want to
find somebody ideally who’s a car
enthusiast likes cars sees the potential
has some experience in it you might even
look at sharing a booth with somebody at
a local Auto Show to see who’s coming
through and you know pitch your
opportunity and see if you get some
interest there but trying to get
somebody who’s who has some experience
in the industry and has a passion for it
and wants to help you beyond just giving
you money and wait and see in return so
I hope that helps Kyle if you guys like
the video please give it a thumbs up it
makes me want to do more videos for you
guys and if you have a comment or a
question or something else to add to
help Kyle I’d love to see it if you
wanna leave a comment under the video so
thank you and we’ll see you on the next
episode
you
another edition of ask Evan in today’s
episode I’m going to answer questions
from one of my four meters Kyle who runs
an auto company and wanted to raise
money between a quarter million to half
a million people to buy more cars so we
can sell them again at a profit and one
of my advice on how to raise capital go
and do it he said in the past has gotten
bank loans but the the market isn’t
working for him anymore is not able to
get the bank loan so one of my bison
getting it through private equity which
is great so private equity means angel
investor or venture capitalists for this
situation that amount of money you’re
not looking at the venture capital so it
can more on the angel side you may not
get one person to put in a quarter
million or a half a million so maybe a
collection of people but definitely
something that people could be
interested in if you can show them the
return on investment so know that you’re
going after kind of rich individuals who
have you know hopefully an interesting
cars and can be able to afford to drop
50 100 200 you know 2 and $50,000 into a
new venture the next thing is what
people will finance and you’re in an
ideal situation here where you’re trying
to expand the business so the hardest
type of money of the race is brand-new
startup hey I have an idea but haven’t
proved anything yet where you’ve already
done this before you’re looking to
expand and you’re you know you need
money to grow your business that’s the
easiest type of business to be able to
get money from so in that since you’re
in a good position and trying to go out
there and find these angel investors a
lot of these deals are done by word of
mouth in some cities depending on where
you are there are some angel groups so
you can go and present – and each a new
group has their own format if it’s over
dinner or a conference or whatever it is
but most people are not part of an angel
group and for the reason being most
people are angel investors if you know
the minute they go on and say hey I’m an
angel investor they’re gonna get
bombarded with business plans right
everybody’s gonna be sending them
business plans so most angel investors
prefer to rely on word of mouth people
to get deal flow so you want to be able
to start talking to people who are
potentially connected to angel investors
and a good source is to look at business
lawyers and
because they see a lot of different
entrepreneurs and often entrepreneurs
are great source as a potential angel
investor for you so let them know what
you’re doing let them know you need
money put it on the radar talk to a
couple of you know accountants and
business lawyers in your city so they
know who you are and even the general
public you know as you start talking to
people the more you tell people
specifically what you’re looking for the
easier it is for them to help you you
put it on their radar screen so the next
time you know they’re talking to someone
who might be a potential investor they
can say hey I met this guy Kyle it’s got
this great idea maybe you should connect
so you want us to get in the word out
there but especially to guys like
accountants and lawyers when you’re
bringing on in an investor you want to
make sure that they don’t just give you
money but hopefully can add something to
your business experience connections
built with some doors from you can maybe
get you some good prices on the cars or
can get you some bulk sales or whatever
it is they think they can add to your
business beyond just giving you money so
that’s always a big boost so you want to
find somebody ideally who’s a car
enthusiast likes cars sees the potential
has some experience in it you might even
look at sharing a booth with somebody at
a local Auto Show to see who’s coming
through and you know pitch your
opportunity and see if you get some
interest there but trying to get
somebody who’s who has some experience
in the industry and has a passion for it
and wants to help you beyond just giving
you money and wait and see in return so
I hope that helps Kyle if you guys like
the video please give it a thumbs up it
makes me want to do more videos for you
guys and if you have a comment or a
question or something else to add to
help Kyle I’d love to see it if you
wanna leave a comment under the video so
thank you and we’ll see you on the next
episode
you
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