Paul Saunders is the founder of James River Capital, and he knows what it takes to get creative to find funding for a new business. Great ideas should be funded, and you can find out what you have for assets to start. Begin with your credit availability, cash on hand, and home equity to begin finding ways to fund your great business idea.
Committed to helping others, Saunders and his wife Vickie created the Saunders Family Foundation in order to help charities do the great work they are set up for. The couple believes in giving back to the community and knows what it takes to make a difference.
Get your friends and family excited about your business plan by talking up your idea. Bootstrapping, or figuring out what you have and what people will donate to your idea, is a great first step in figuring out how to fund your idea.
You can create an online fundraising, making it possible to explain your business idea and get people to show their interest through donations. Your online fundraiser can be used to market your business plan, establish what your goals are, and you can give people rewards for certain levels of donations.
Traditional funding is also beneficial, and you can look at the Small Business Association for opportunities. A personal loan or business loan may also be possible.
Investors should always be encouraged, and you might be able to find angel investors willing to give you a good chunk of money because they believe in your idea.