How Did You Capitalize Your Business
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Feb 11, 2008 Posted by Layla Masri
Last week we held our bi-monthly Center for Entrepreneurial Excellence series, and the topic was finding capital for your business. As business owners, this is an extremely important topic—whether we just starting out or are poised for growth, the money equation is important.
In an extremely candid discussion, our guests panelists—Kristina Bouweiri, CEO, Reston Limousine; Mary Rogers, CEO, Abrakadoodle; and Carolyn Sawyer, CEO & Chief Strategist, Tom Sawyer Company—shared their strategies for funding their businesses. Although they have all gotten traditional bank financing, they have also thought outside the box. That makes sense—these are extremely successful entrepreneurs, and creative thinking is a hallmark of success. Mary Rogers’ partners worked for no salary in exchange for equity in the business (a risk that paid off for all parties). Carolyn buys real estate and then rents it to the company—a great way to build personal equity and ensure control the company’s lease. Kristina’s commitment to community service has helped her build such a solid reputation that creditors have taken it into account in financial dealings.
That got me thinking about other creative things we can do to fund—and grow—our businesses. What creative thing have you done that has really benefited your business?
Susan Rose is president of Two Sisters Creative
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Re: How Did You Capitalize Your Business
Feb 13, 2008 | Carla Morelli
We've self-financed, sold stock, and done lines of credit. It seems like everyone who attended, including the panelists, hadn't spent much time in the venture capital arena. I wonder whether it's because the businesses don't always fit the model a venture capitalist is looking for, or because the owners don't want to give up equity and a say in running the business...