Yesterday I was enjoying the summer weather, laying in the sun at a local park. Dogs filled their designated play area, a pickup game of frisbee golf had formed near me, and I was just falling asleep when I received a call from a Kentucky area code.
I was pleased to learn upon answering the call that it was an enthusiastic young gentleman interested in opening a float center. I had heard there was a gentleman interested in opening a float center in Kentucky and I couldn’t wait to hear his accent. The good news was he did not disappoint. The great news was that we talked for about an hour and had a great conversation ranging from his burning desire to open a float center, to paleo diets. It was a real pleasure and I can’t wait to talk to him again.
Based on our discussion he said, “so… money is the biggest hurdle to opening my business”. It was a statement, not a question, and it was certainly not the message I had intended to give. Our conversation had naturally led to fundraising and all the possibilities and hurdles associated with it. First you’ve got family, then friends, then friends of friends. There are angel investors, business scholarships and bank loans. More recently there is the option of crowdsourcing your money (without needing to pay it back) through sites such as Kickstarter. There are even business association meetings that get together specifically to educate entrepreneurs on how to fundraise. Despite all of this, he felt that fundraising was the biggest hurdle to opening his float center. [Read more…] about The Biggest Hurdle