Insights With Trent Munday

If you have already proven your business model, have sales, have orders, etc then your business is in the Implementation Phase. However, if you have simply identified a gap in the market, but not yet built a solution to address it, them you're in the Experimentation Phase. If your business is Implementing, instead of looking for Venture Capital Money and giving away a slice of your company, try traditional financing options, like a bank loan. Especially if you have purchase orders in hand.  Or, consider raising money from Friends & Family. People often look to raise money from Friends & Family during the Experimentation Phase. Mainly they can't convince banks, Venture Capital and Private Equity to fund them at this stage. But funding during the Experimentation Phase is much higher risk than during the Implementation Phase. And Friends & Family usually have a much lower risk profile. However, if you're Implementing, the risk is generally much lower.  So I'd suggest Friends & Family fund