Startup Financing Pierre SD

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Wells Fargo - Pierre
(605) 945-3000
333 E Sioux Ave
Pierre, SD
Type
Branch
Office Hours
Mon-Fri 07:30 AM-05:30 PM
Sat 09:00 AM-01:00 PM
Sun Closed

Richard Kahler
Kahler Financial Group
(605) 343-1400
1010 9th Street, Suite 1
Rapid City, SD
Expertises
Real Estate Investments, Ongoing Investment Management, Helping Clients Identify & Achieve Goals, High Net Worth Client Needs, Retirement Planning & Distribution Rules, Planning Issues for Business Owners
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MSFP

Mr. John D. Wenande, CFP®
(605) 977-2709
200 E 10th St Ste 500
Sioux Falls, SD
Firm
Eide Bailly LLP

Data Provided by:
Mr. Rex C. Keller, CFP®
5801 S Tomar Rd
Sioux Falls, SD
Firm
VALIC Financial Advisors, Inc.
Areas of Specialization
Comprehensive Financial Planning, Intergenerational Planning, Wealth Management

Data Provided by:
Ms. Barb J. Vavruska, CFP®
(605) 274-9156
3901 E 10th St
Sioux Falls, SD
Firm
Securities America, Inc.

Data Provided by:
US Bank - Pierre Office
(605) 945-2133
604 E Sioux Ave
Pierre, SD
Drive Up Hours
Mon 08:30 am to 05:00 pm
Tue 08:30 am to 05:00 pm
Wed 08:30 am to 05:00 pm
Thur 08:30 am to 05:00 pm
Fri 08:30 am to 05:00 pm

Dr. Kathryn J. Morrison, CFP®
(605) 688-5196
Box 2275A
Brookings, SD
Firm
South Dakota State University

Data Provided by:
Mr. Christopher B. Green, CFP®
7145 Prestwick Rd
Rapid City, SD
Firm
Green Wealth Management, Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Investment Management, Investment Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000



Data Provided by:
Mr. Thietje A. Hunt, CFP®
(605) 399-2741
2040 W Main St
Rapid City, SD
Firm
Ameriprise Financial Services
Areas of Specialization
Estate Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,001 - $100,000

Profession: Legal Professionals

Data Provided by:
Mr. David D. Donat, CFP®
(605) 722-0010
741 5th St
Spearfish, SD
Firm
Financial Advisors of the Black Hills
Areas of Specialization
Investment Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Data Provided by:

Startup Financing

Provided By: 

The Real Funding Strategy That Works
by Kenneth H. Marks

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!
Statistically no one gets venture capital. Yes, we all read about the handful of companies that obtained venture funding, are written about in the trade rags and may have even gone public, but given the number of companies started each year vs. the number of companies receiving institutional (or venture) funding, it is insignificant, and for most companies just plain unrealistic. So, how do the 99.9 percent of startup businesses get funded?

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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 market need.
· Establish the critical path items for at least the first stage of the company or project.
· Define what it takes to validate the market and prove the company’s ability.
· Develop a list of where and from whom you can get the resources needed (i.e. those who have a reason to care about your company’s success).
· Assess – Can you bridge the gap with friends and family and personal investment?

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.
Let’s take an example: A small ...

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