I’d start with your business plan. You’ll need that tool first. Before sharing it with others, can you honestly say that it’s clear, emotionally engaging and demonstrates your market awareness?
Assuming you have a compelling business plan, who should you call on? Funds can be found with individual (angel) investors and venture capitalists. With that said, there is also plenty of money to be found in other less obvious pockets. Here are several alternative funding options: • prizes and contests like MN Cup and Cleantech Open
• crowdfunding, which also doubles as a strategic marketing initiative
• customers can prepay
• vendors can offer up better terms
• distributors looking for new products or markets
• government grants and loans – SBIR and SBA
• specialty finance companies – equipment loans, AR/inventory financing, working capital lines
• economic development programs looking to attract companies and jobs
Sweet marketing music
Tanner Montague came to town from Seattle having never owned his own music venue before. He’s a musician himself, so he has a pretty good sense of good music, but he also wandered into a crowded music scene filled with concert venues large and small.But the owner of Green Room thinks he found a void in the market. It’s lacking, he says, in places serving between 200 and 500 people, a sweet spot he thinks could be a draw for both some national acts not quite big enough yet for arena gigs and local acts looking for a launching pad.“I felt that size would do well in the city to offer more options,” he says. “My goal was to A, bring another option for national acts but then, B, have a great spot for local bands to start.”Right or wrong, something seems to be working, he says. He’s got a full calendar of concerts booked out several months. How did he, as a newcomer to the market in an industry filled with competition, get the attention of the local concertgoer?
