What are you planning to buy with the proceeds? Although it may sound odd, many small business owners raise money (or try to) before thinking their needs through. If you don't know what you need and why you need it, you can't defend your plan, nor present a cogent argument to financing sources.
What do you really need? Look at what you think you need from three points of view: bare bones, most likely, and what you'd get if money were no object. Keep in mind that ultimately any acquisition has to be paid for out of operating profits. Impulsive purchase destroy budgets. Moreover, bankers look askance at furnishing and equipment that seem to indicate lack of proper business restraint. The less you spend on frivolities, the more you'll have for necessities!
What do you really need? Look at what you think you need from three points of view: bare bones, most likely, and what you'd get if money were no object. Keep in mind that ultimately any acquisition has to be paid for out of operating profits. Impulsive purchase destroy budgets. Moreover, bankers look askance at furnishing and equipment that seem to indicate lack of proper business restraint. The less you spend on frivolities, the more you'll have for necessities!
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