A great business idea is one thing, but coming up with the funding to bring your idea to fruition is another. Founder of James River Capital Paul Saunders knows what it takes to bring a business out of the idea stages and into reality with solid funding strategies. From basic loans to a more creative approach, aspiring business owners can make it once capital is secured.
James River Capital began in 1995 when it became an independent investment firm purchased by Paul Saunders and Kevin Brandt from Kidder and rebranded. The firm is focused on corporate credit, equity strategies, multi-strategy investing and more to give investors opportunities to grow wealth and protect their financial future.
Paul Saunders recommends starting your business by the method of bootstrapping, or in other words, gathering together your assets and looking for ways to borrow from family and friends. This is your first approach, as you can get cash quickly and will know what kind of support you have among your family and friends from the start.
Once you exhaust your most immediate resources, crowdfunding is often a great way to see what kind of interest there is in your business. With crowdfunding, you can get support from friends, family and from strangers who learn about your business venture online. Successful crowdfunding takes some work, and will require some marketing strategies to get your idea out in front of a wide audience.
Business loans are another option to secure capital for your business, as are angel investors who are looking for a new idea to invest in. You may be able to secure a personal loan to use for your business venture as well. In general, when you have a great idea, you can find the capital you need to fund your business if you look hard enough.