Get The Scoop From Pierre Clark On Tips and Strategies To Get The Money To Start Your Business

Tips and Strategies On

How To Get The Money to
Start Your Business

By Pierre Clark

Stats show that more than 60% of all small business startup funding for a business comes from the founders and personal friends of the founders.  So you'll have to raise the first startup cash yourself and demonstrate your business commitment and your concept's potential before investors will be interested. Here are 10 ways to raise up to $10,000 cash:

1. Host a fundraiser: Create an event, sell 100 tickets at $100 each.

2. Pre-sell your services or products. Sign up potential clients to contracts and collect downpayments on account from each of them.

3. Sell stock shares in your company. If you start a small business corporation in Illinois, you can sell up to $1 million in stock shares usually without registering the company as a public corporation.

4. Hook up with a non-profit organization, start a program built around your product or service and write a grants application to solicit funding though the non-profit.

5. Enter a business plan competition. The Miller Beer Urban Entrepreneur Competition gives out $25,000.00 in grants to business entrpreneurs under 30 who are starting their own businesses. Kool Cigarettes sponsored a similar competition and there are many others.

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6. Create a website and sell your products or service through the website. Here is an example of one guy who generated $1 million cash by selling pixels on his webpage:http://www.milliondollarhomepage.com.

7. Locate investors with cash to invest (from $100.00 to $1,000) and offer them a promissory note stating that as investors you will pay them a 20% to 35% return on their invested funds within one year. These rates of returns are much higher than most investors can get from banks, mutual funds, etc.

8. Promote your business in the Business Opportunities classified ad section of your local newspaper (Sun-Times, Tribune, Defender, Crain's Chicago Business, local community newspapers and business-oriented newspapers like Trading Times). Many investors read these papers looking for deals and opportunities.

9. Compile a mailing list of new businesses that place their new business announcements in local newspapers, then prepare a letter introducing your company and its services and offering your services. You may generate a strong client list from these new businesses which can supply you with startup capital.

10. There are city, county, federal and state sources that offer business startup funding including the SBA (Small Business Administration), MBDA (Minority Business Development Agency) and others. The SBA offers microloans up to $50,000 for which you don't need collateral or even a tax return. Google "microloans" and you'll find hundreds of potential financing sources.

11. Crowdfunding websites.

12. Equity crowdfunding via the Jobs Act.

13. Crowdsourcing support.

14. Angel Investors.

15. Incubator/seed funding sources  like Excelerate, 1871, YCombinator, TechStars, DemoGod, Since we first wrote this article, entrepreneurial startups are the new business development darlings.

These ideas should get you started. Good luck and if you have any questions feel free to call me at 312-970-0249.

By Pierre A. Clark
From The Entrepreneur’s Corner™ Classic Columns
© 2009–2010, Revised 2025. All Rights Reserved.

Pierre Clark is the Founder-Editor of The Entrepreneur’s Corner™, Homefree, NuFutures Development Ventures LLC, and NuMillennium Opportunity Capital Ltd. Rights Reserved

Writer’s Note: Everyone thinking about starting a business and wants to know: how to get the money. Here are some tips and strategies. (I'm using these myself. Let me know how they work for you.) Call 312-970-0249 for info about our workshop sessions and podcasts on Clubhouse and Fanbase.

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About the Minority Business Finance Scoop - is the premier news blog covering minority, black, and emerging businesses and how they develop and finance their companies. The publication is dedicated to showcasing the business and economic development of Black businesses and entrepreneurs of color.