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Step 1
Step 1) With banks unwilling to give out much money to small business start ups right now, many entrepreneurs are looking to venture capitalists to finance their start ups. The first step in soliciting venture capitalists is a getting a list of venture capitalists in your area from your local business chamber of commerce.
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Step 2
Step 2) After getting a list of venture capitalists in your area from your local business chamber, give each one of the venture capitalists a call to set up a meeting. You want at least one hour of their time to make a business presentation on your prospective new business.
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Step 3
Step 3) At that business meeting, include a) a slideshow presentation, b)a business plan (with your salary), c) a legally binding partnership agreement, and d) a non disclosure agreement for everyone to sign. Make sure you retain at least part ownership of your venture, and your not just working hard for someone else.
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Step 4
Step 4) If they like your plan (and many like plans from budding entrepreneurs), expect some negotiations from both sides. I hope this has been a helpful introductory article on how to solicit a venture capitalist for your small business start up. Good luck!
