Page 58 - 597 Business Ideas You can Start from Home - doing what you LOVE! (Beginner Internet Marketing Series)

Step 3. Bootstrapping: Make the Most of Your Own Resources 47

up partial (or possibly even complete) control of your company in

exchange for the money. Some angel investors may offer an interest­
bearing loan with no ownership equity but they will still usually
insist on some input or management control of the business as well
as a high interest rate.

Angel investors fund both start-ups and established small busi­
nesses in need of cash for one reason or another. For example, a
growing company may need a loan to fund production for a large
order or to pay for a major marketing program .

Where Are These Angels?

Angel investors are not easy to find, and you need to make a
good match with one, so know that finding one can be a lengthy
and complex process. Today, there are both individual angels and
angel networks or groups where these investors pool their invest­
ments. Begin your search by asking for referrals from:

• Your accountant: Accountants usually have networks and
resources to find investors.

• Your attorney: Start by asking your trademark lawyer. If he
doesn't know of anyone, ask him to query other attorneys in his
office, which may be very large and a good referral network.

• Business magazines: Try Inc., Entrepreneur, and Fortune Small
Business. See if you can find articles about other small busi­

nesses that have had success with angel funding-many times
the angels' names are featured.
• Your local chamber of commerce: It may host venture capital
group networking opportunities.
• Friends and family: You may feel like you can't ask for anything
else from your family and friends, but referrals are easy. The
more people who know you are looking for money, the better
chance you'll find someone willing and able to help.
• A local venture capital firm: Touch base, explain a little bit
about your situation, and ask if they know of angel networks.