Dimmer

I enjoyed John Dimmers presentation quite a bit.His presentation got me thinking about my own business plan for class a little bit deeper. I now have a better understanding of what is involved in the process of getting money for business. John provided a simple outline of where these funds should come from when starting up a business.

You!
This is the first source of money. I remember one of the guest speakers mentioned saving 20% of your paycheck and putting it in a savings account as this is your first source for funding your business.

Friends and Family
The second source is friends and family which is estimated to provide 25 to 150 thousand dollars. Although I can't picture myself asking my family for money. It haven't ask for anything not even a loan ever since I was 16 and got my first job. Also if things don't go as planned and I lose all that money it would probably hurt the relationship of my family.

Angel Investor
Next is the Angel Investor. I never heard of this name however I am familiar with what they do. They are private individuals who invest money in start-up businesses

Venture capital
The last source is Venture capital that could provide 4 million dollars

With this information and the reading given to me in class, I now have a better understanding of how to get funding for my ideas. As of right now I will probably use my own funds to support my business (buying from various sources and selling on ebay)

Goodman

I didn't know what to expect when I first walked into the room. First thing I did was grab a danish, a yogurt and a bottle of milk. What I thought was most useful is the length of her presentation. The presentation was pretty short and sweet but she had a question and answer portion that cleared up a lot of my questions. I agree with her on how there is NO TEMPLATE when it comes to creating a business. Each business plan is different from another. One may have more elements then the other and there is no way to guarantee success just because there is a well written business plan. I like how she just casually says "you won't sleep well at night if you know you owe thousands of dollars." Although I am worried about this statement (I hate being in debt) I feel that it is an experience every entrepreneur must go through. At the end of the day I still want to pursue the long, dangerous, stressful path of the entrepreneur.