A few days back I posted a question in LinkedIn whether an entrepreneur should use his or her own money or secure outside financing to fund his own brilliant idea and turn it into reality. Most answers came from individuals who have successfully built their own company based on their own brilliant ideas using their own money. They have offered several sound advices. Some answer came from those who are already in the financial services world. My most sincere appreciation and thanks to all those who have answered my question.
The common answer is that any entrepreneur should try to use his or her own money/financial resources first before getting outside financing. This Q&A can be found at http://www.linkedin.com/answers/startups-small-businesses/starting-up/STR_STP/213498-4071074. Several good reference and readings were also provided by those who posted their answers. Links below:
http://www.changethis.com/8.BootstrappersBible http://blog.pmarca.com/2007/06/the_truth_about.html http://blog.guykawasaki.com/venture_capital/index.html
http://tomthemoneyman.wordpress.com/
http://www.guykawasaki.com/
http://www.askthevc.com/blog/
http://www.gruntmedia.com/venturecast.html
In my point of view, anyone who has a brilliant idea should try to nourish it and build a future on it. It could be that the idea turns to a person’s own company or a project in his or her existing corporate environment, one thing is certain that is: successful nurturing and implementation of the idea is highly rewarding.
In the even that such idea turns an ordinary person to an entrepreneur and follow his or her dreams and successfully launch and operate his or her own company it would start in that person using his own money and financial resources to start-up his own company. Financial resources for common people are finite so there is a certain moment in time when additional funding is needed. This funding can be provided by friends and family or angel investors and later once the operation requires higher level of funding bigger organisations like venture capitals and investment firms step in.
Each of us who have taken that step knows well the decisions made to use your own finances in starting up a company. It takes a lot of hard work, long days, sleepless nights, dedication, courage, perseverance, sheer brilliance and faith in your capabilities to start-up and sustains a new company based on a new concept. Sometime the gratification is so delayed but for a true entrepreneur persistence and consistency equates to success.
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