In my experience, if you've ever dreamed of being an entrepreneur, starting small is a great way to go. When I'm looking to invest in a company, I like to see proof of concept. For a lot of businesses, you can get proof of concept with a. I just connected with an entrepreneur who realized she was on to something when she kept selling out all of her product at farmers markets. Now she's selling online and in key retailers, applying to accelerator programs along the way.
and refine how you're going to make money. Let your friends know what you're doing and ask them to spread the word if they like the product or service. Safely set up shop at your farmers markets or, especially in this current moment, seek out trade and industry associations, virtual events, webinars, and brand collaborations.
The first investment into a business is often from a friends and family round, which typically ranges anywhere from $100,000 to $1 million. This money is used to create a proof of concept: a minimum viable product, an e-commerce site, or whatever you need to test your initial offering. As an investor, I'm personally looking for a great product, scrappy and effective marketing tactics, repeat customers, and compelling margins. One of the best sources of early capital is people who know you and believe in you, have the funds to back you and relevant expertise — like other business owners who have built a business from the ground up, or experts and well-known executives in your field.
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