The first step is to explore the viability of partnering with an angel investor or an investment group such as a venture capital firm. They offer industry expertise & a strong network of contacts which will allow you to grow internally as well as having the opportunity to form strategic partnerships with larger companies. Keep in mind that it can be very difficult to obtain financing from these investors but if you succeed, it can be very helpful.
In terms of finding angel investors there are national and local directories. You can start by searching online for these two directories: the Angel Capital Association & the Angel Capital Education Foundation. They both provide a detailed listing of angel investors by state with direct links to the angel investor’s website. We would caution you to only contact angel investors that have an investment strategy that supports your business model. In addition, please note that angel investors usually do not invest more than $250,000 to $750,000. If you need additional capital to get started than a venture capital firm may be the right option. To find a detailed listing of those firms contact the National Venture Capital Association.
Explore Your Professional Network
If neither of these options is viable then start exploring your professional network. There could be an investor within your network (linkedin) or a former business partner that can participate in the funding.
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