While startups and small businesses around the country observe National Small Business Week, ExitEvent (presented with Wells Fargo) prepared a helpful resource package for entrepreneurs seeking financial advice along the early-stage startup path. Before the weekend kicks off and #SmallBusinessWeek hashtags begin to slow, we wanted to leave readers with a refresher on what was covered:
When facing the daunting task of putting together a plan to raise money, it can be difficult to even know where to start. This guide contains all the necessary steps to consider before applying for bank loans or pitching to outside investors.
For entrepreneurs who’ve already launched a product or service, developed a brand and created a team on bootstrapped funds, then comes the necessary task to convince backers their startup is worth investing in. Formulating a plan on how to use capital to grow is an essential step toward landing a deal.
Also, when working to secure a bank loan, entrepreneurs must first consider how to best present facts, figures, business plans, etc. in such a way that complements the story of their startup.
If or when entrepreneurs are faced with an opportunity to exit, they should always pursue a financial strategy before moving forward. That’s why it’s important to prepare for an exit before the opportunity arises.