Book Excerpt
Chapter 1
Startup Financing
If you are starting a business, it’s your baby. This idea may leave you feeling simultaneously liberated and inspired. But it also has an edge. Specifically, if it’s your baby, it’s also your obligation to finance it beyond the “I’ve got an idea” stage.
How about the entrepreneur who wants to raise $25,000 from outside investors to start a restaurant? It’s unlikely he will succeed in getting people to reach for their checkbooks.
Why not? First, if the would-be restaurateur can’t scratch together $25,000 out of his own resources or credit, it’s highly unlikely that an investor would view him or her as having the kind of chutzpah needed to make a go of it in the restaurant business.
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