Funding plays a big role in business. When you have an idea but it requires a lot of money then one needs a good amount of money to make the idea work. In class we went through the step to get funding. So its good to go over it because I now have an idea how I want to get funding. Basically self funding will be a good start and as we learned in class most entrepreneurs take that step because they are just starting. So after a little bit of self funding then the next step is borrowing money from family/friends. This step can be easy to do or hard because it depends on your family/friends if they want to invest money to make you successful. So in process of funding family/friends can help. So for sure i'm going to take this step and ask for money because the product I am trying to create has sensors involved and will cost money. Then comes the next step of Angel investing. After lecture we learned that Angel's are private Accredited investors who seek to make investments in young and new companies. Basically we also learned that Angels are mostly retired business people who have wealth. Also Angels can invest anywhere from $10,000 to $150,000. That is a lot of money but you have to be more responsible with the money that you get. After you get the money then you have to focus how to use the money and what to use it for. After this kind of investment next step will be VC. So these are the steps for funding and making your company successful!
So after watching this movie we got to see the perspective of two young entrepreneurs that were trying to reach success. We get to see their journey from when they started and how they started which was really fun to watch. This documentary was involved around two friends one named Kaleil Isaza Tuzman and Tom Herman. In the beginning these two fellows were trying to figure out the name of the company. They were arguing about what should they name the company. Kaleil thought maybe govWorks wont work but after giving another thought he said yes and said that govWorks will be a good choice. After that they tried to find investors. They purposed there plan to many investors where some investors were like go to the west coast because they do internet related stuff, but they didn't give up. They found the right investors and went along, but had to face many obstacles but thats how business works. As the documentary was going along, we as viewers saw how from 8 employees the company was
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