Startup Financing Bemidji MN
Thrivent Financial for Lutherans
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Education Planning, Estate Planning, General Financial Planning, Healthcare Planning, Insurance Planning
Average Net Worth: Not Applicable
Average Income: Not Applicable
Profession: Not Applicable
Mon-Fri 07:30 AM-06:00 PM
Sat 09:00 AM-02:00 PM
Mon-Fri 08:30 AM-06:00 PM
Sat 09:00 AM-12:00 PM
Summit Wealth Advocates, LLC
Prior Lake, MN
Ongoing Investment Management, Helping Clients Identify & Achieve Goals, High Net Worth Client Needs, Planning Concerns for Corporate Executives, Retirement Planning & Distribution Rules, Tax Planning
NAPFA Registered Financial Advisor, BS, CFP®, CPA/PFS
Financial Empowerment, LLC
Retirement Planning & Distribution Rules, Ongoing Investment Management, Planning Issues for Business Owners, Women's Financial Planning Issues, Tax Planning, Estate & Generational Planning Issues
NAPFA Registered Financial Advisor, CFP®, MS
Mon-Fri 09:00 AM-06:00 PM
Colleen Weber CPA, LLC
Ongoing Investment Management, Retirement Planning & Distribution Rules, Helping Clients Identify & Achieve Goals, Tax Planning, High Net Worth Client Needs, Estate & Generational Planning Issues
NAPFA Registered Financial Advisor, BS, CFP®, CPA
DRG Financial Services, Inc.
Retirement Plan Investment Advice, Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Helping Clients Identify & Achieve Goals, Middle Income Client Needs, Tax Planning
NAPFA Registered Financial Advisor, CFP®, EA, MBA
Clerestory Advisors, Inc.
Mendota Heights, MN
Ongoing Investment Management, Middle Income Client Needs, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Estate & Generational Planning Issues, Planning Issues for Unmarried & Same-Sex Couples
NAPFA Registered Financial Advisor, CDFA, CFA, CFP®
The Real Funding Strategy That Works
You have an idea for a product or service and want to start a company, or maybe you already have a company and you are thinking about launching a new product line. Either way, you need capital to make it happen, but how do you get the funding required?
If you attend your typical MBA class on startup businesses or an entrepreneurial starter program, you’ll likely be told to write a business plan and shop it to angel and venture investors, right? Not in the real world!
Practical Funding Approach
The financing strategy is bootstrapping in stages based on iterative phases of success, working from the end backwards along a path of steps, only doing what must be done to get to the next phase with minimal capital. This is a resourceful and practical approach:
Start with the Customer and the Market Need
Start with the end in mind — that is, the customer and the market need. Many businesses start with a solution and look for a problem to solve; this is natural when you have technical entrepreneurs and creative people. However, capital is attracted to situations that have proven market demand with a solution that is feasible at a validated price that allows the business to make a significant return based on the risk involved. The idea is to validate the market and price as soon as possible in the development of the company and shape the product or service offering to assure profitable revenues, or at least those that can generate a reasonable gross profit (revenues minus direct costs). This means talking with potential customers as you are crafting the business plan and strategy — the same goes with likely sources of supply.
Establish the Critical Path Items
Next, leverage the knowledge gained to develop the critical path items required to launch the company. Create a working prototype and confirm that the business model will work. One of the outputs of this train of thinking and process is a clearer understanding of the amount and timing of capital required.