Latest posts by Rich Sloan
- Marketing in the Trenches on a Budget - December 26, 2013
- StartupNation’s 10th Anniversary and 10 Million Served - November 2, 2011
- Gerber Hits a Nerve - November 1, 2011
You’ve been unemployed for three months, but you’re doing something about it. Yes, you’re ready to take control of your destiny and start up your own business.
You’ve come up with a life plan after poring over the simple process we provided you in our life-changing book. (shameless plug)
You’ve also developed a business plan to fit your life perfectly. Finally, you’re poised to run your own show, be your own boss, answer to no one but yourself! The table is set. WahoOOoo!!!
But wait. Now you need money–$22,000, according to your business plan. Hmmmm.
The bank turns you down–you’re too much of a startup. "Come back when you have two years of track record."
Your friends and family are tapped. They poured the last of their money into a pop-up camper and the fancy all-in-one workout machine that’s collecting dust in the basement.
Venture capitalists don’t take your calls. You’re WAY off their radar screen.
Enter Mr. Moneybags. He’s not exactly an "angel" investor. He sizes you up, sees you’re desperate for money, and he makes you an offer. He’s willing to give you $30,000, but with the money he’s dangling in front of you, he requires final say on all decisions affecting the company. He also gets control over your salary.
You need money. But are you willing to take this money? Are there other options you should consider?
P.S. (Shameless plug #2: You can visit Chapter Six of our book to find some great solutions and advice regarding finding and dealing with the money people.)
P.P.S. Check out a similar situation that StartupNation’s own Short-Sighted Bob found himself in… it might take a while to load, even after the player pops up.
Entrepreneurs, chime in!!!