I've raised money three times, most recently for an academic services company.
In each instance, my business plan was never opened. The largest round of financing raised was $1 million and I'll never forget the process.
Over several weeks the investor and I met at his home. While we talked about business, we mostly discussed our respective values. It was our connection on the guiding principles of family, integrity, and service that ultimately led to closing the investment.
The process was eye-opening, never before had I seen such a keen interest of 'the individual' opposed to 'the idea.' We sealed our deal with a handshake. He said, "I bet on jockeys not horses."
Starting a business in a downturn is not necessarily crazy. Many have done it successfully. Here are some strategies for entrepreneurs.
