Raising investment capital for your business in any economic environment can be a very challenging endeavor. When there is significantly less available capital to go around, as well as minimal availability and access to credit, raising capital can seem all but impossible. Despite the challenges that the current economic environment brings, many entrepreneurs are still able to secure the investment capital that they need to grow their businesses by being flexible in adopting some new growth strategies, while remaining focused on a few time tested principles.
To borrow an old cliché that I think is appropriate: "When the going gets tough, the tough get going." Now is not the time to lick your wounds and bathe in a pity party. Rather it is the best time to refine and polish up your strategy, nurture key relationships, and continue to press forward with enthusiasm until your goal is achieved.
To learn more about how to succeed with investors in these challenging times, particularly for minority and women entrepreneurs who often have additional hurdles to overcome, please join me for a workshop in Youngstown on August 25th called, "Growing Your High Potential Company," as we take a deep dive into proven strategies that (if adopted) can significantly increase your odds of success with investors. Go here for more information and registration details.
Perseverance under trial is how winners are created and champions are crowned. Dig in and continue to improve your game, and you too will weather the current storm.
Darrin is Chief Economic Inclusion Officer of JumpStart and President of JumpStart Inclusion Advisors. He founded and ran his own strategic planning and management assistance firm and spent 16 years in the commercial banking and finance industry. Darrin has an MBA from Baldwin Wallace College and an undergraduate degree from Mount Union College. He has led a series of workshops and seminars on matters of economic development and diversity.