Financing Your Small Business is Where “The Rubber Meets The Road”
Lack of preparation and poor presentation are the most common errors committed by entrepreneurs looking for capital to fund their companies, according to James Burk and Richard Lehmann, two nationwide lecturers who have spoken to more than 20,000 entrepreneurs, and who have now poured their research and experience into the newly released book FINANCING YOUR SMALL BUSINESS.
Burk & Reedy works closely with its clients to prepare them to raise capital from a variety of sources. Burk said that three of the most common mistakes he has discovered entrepreneurs make include:
Preparation – Many go into a meeting or presentation unprepared to answer the tough questions about their ventures, or without key information important to sophisticated investors. Entrepreneurs should carefully research their markets, their competition and their revenue model and projections before going on the firing line.
Presentation – Spin is not the answer to tough questions. Accentuating the positive and omitting the negative is a common practice among entrepreneurs, but it is not effective. Investors who listen to venture presentations regularly can smell it when a presenter is hiding something. Don’t do it – present your whole business plan, blemishes and challenges honestly.
Narrowcast – In today’s marketplace, there are many more options than simply debt financing or common stock. Many companies today are funded through private loans, revenue sharing with investors, offering common or preferred stock, joint ventures and strategic partnerships.
“Most entrepreneurs have not made a presentation in front of a crowd before,” Lehmann said. “One of the biggest mistakes is trying to get too much information on the power point slides. Visually, investors can’t see it, and so it makes it difficult for them to comprehend. Prioritize the information, so they can walk away with a good taste in their mouths and wanting to taste more…”
The difference between this book and others written about small business financing is that Burk & Reedy helps prepare businesses to raise capital on a daily basis. When it comes to financing, this book is absolutely where the rubber meets the road.”
FINANCING YOUR SMALL BUSINESS is published by Sphinx Legal Publishing, a division of Sourcebooks Publishing. The book is available at Barnes & Noble and Borders bookstores or online at www.amazon.com and www.barnesandnoble.com.
Start a Business in Maryland, Virginia and the District of Columbia Shows You How it’s Done.
Entrepreneurs have questions…HOW TO START A BUSINESS IN MARYLAND, VIRGINIA OR THE DISTRICT OF COLUMBIA has the answers. James Burk and David Shaheen, Partners of the firm, have authored this definitive legal guide for Sourcebooks, the latest offering in their popular Legal Survival Guides Series.
Topics covered in the book include choice of entity, financing a business, contract laws, insurance, employment, labor laws and the internet as it relates to your business.
“Self-help law books are written to give people an alternative to the often complicated and confusing legal books found in most law libraries,” said James Burk. “It has always been our practice to make the explanation of the law as simple and easy to understand as possible.”
David Shaheen added: " We are very pleased at the positive feedback from entrepreneurs and professionals alike regarding this book."
"Your book has become a permanent part of our reference library, and required reading for new staff. It provides a brief but thorough summary of what is needed to start a local business, and an excellent checklist for our new clients to determine what they may or may not have done correctly during their formation process. It guides us in providing useful recommendations."
- Terrence P. Regan, CPA, Partner of Stitcher, Regan, Mosley & Company, LLC
"Burk and Shaheen, two of the most experienced attorneys I know, take some complicated subjects and make them accessible to the non-attorney. If you are going to start a business this book is a must."
- Stevan Lieberman, Esq., Partner of Greenberg & Lieberman - IP Attorneys
START A BUSINESS IN MARYLAND, VIRGINIA AND THE DISTRICT OF COLUMBIA is published by Sphinx Legal Publishing, a division of Sourcebooks Publishing. The book is available at Barnes & Noble and Borders bookstores or online at www.amazon.com and www.barnesandnoble.com.