How can you get your business funded?

There are only a few people that really believe in you in this world (most of the time), you parents, your wife, your kids and your friends.  Once you start getting away from that close group you start working with people that don't know you that well and don't trust you or your word.  Once you convince some people that don't know you that well, the next people you will work with are people that you probably won't ever meet.

Think of all of this as a funding cycle for your business.  When you come up with your first idea the only people that are going to believe in you are your friends and family and that's why they call your typical first round a friends and family round.  Your second round is when your numbers start talking and VCs are willing to look at you.  The VCs care a bit about you but mostly about the numbers of the business.  The next round of funding usually takes place when the VCs call each other and start soliciting your deal around and then they start networking for you (or at least helping you).

Putting this in even other terms, your first round is usually a boot strap for a prototype, then once you have proven a prototype then you can move on to a revenue generating model and finally an expansion cycle.

I'm mentioning this because when you come to an outside party for your first round or before you need additional capital to expand, you are probably better off going to your friends and family before hitting up a bunch of groups you aren't ready for.

When you are looking for Chicago Private Equity or an angel investor in Chicago I'll be ready for you.