Young entrepreneurs and venture capital

It is usually difficult for young [tag]entrepreneurs[/tag] to get [tag]venture capital[/tag]. Brian Balfour, a young entrepreneur, has got experience in raising money. It is never an easy task. In his blog Brian gives a few tips to follow. He says,

My recommendation for most young entrepreneurs just starting out is to seek out angel investors before venture capital. Unfortunately a lot of your success in raising [tag]funding[/tag] depends on your network; the old “it is who you know” predicament. Yet, there are things you can do to make it easier.

The six tips are targeted towards young entrepreneurs but many of them can be adapted for any entrepreneur. The basic is to use other peoples network.
I like the tip “Keep the “No’s” In the Loop”,

Keep a list of people who have said no, or just necessarily haven’t said yes. Send them regular updates of the progress of your company. By showing that you are committed and the company is moving forward may bring some timid investors out of the word work.
[tags]coaching [/tags]

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