When setting out to pursue a
career in the entertainment industry it can be quite expensive. It’s important
that you don’t go into this pursuit blindly. You should actually count up the
costs. It even helps if you approach your career like a business and look at
all that you put into it as an investment. When you do that, you begin to
realize very wise investors only look to invest in those things that have the
potential to earn them a return on their investment and a profit. This is
important information because as I stated before, a career in the entertainment
industry can be quite expensive. If you don’t have all the money you need
yourself to fund your career then you have to be able to gain the interest of
an investor. That means knowing how they think and thinking the way they do
when presenting your business to them. With that in mind, I want to look at
some alternative ways of funding your career through a business concept. I also
want to point out a few resources that are available to you in that pursuit. So
in the words of Jerry McGuire from the movie, “Show Me The Money…!”
According
to the U.S. Small Business Administration, one of the
main reasons businesses fail is insufficient capital(money). This is in part
because lots of businesses don’t know what to do or where to go to get funding.
Here some resources for businesses to consider. The Association
for Enterprise Opportunity or AEO is a national membership
organization and voice of microbusiness development in the United States. They
help entrepreneurs support themselves and their families and contribute to
their communities through business ownership. Their mission is to create economic opportunities for underserved
entrepreneurs. This gives entrepreneurs access to loans and various other
resources through their membership. They also provide mentorship
opportunities to help guide a new entrepreneur through the business process.
Please check out their website at http://www.aeoworks.org. The site to check out is http://www.cdfi.org.
The Community Development Financial Institutions or CDFI Coalition is another
viable resource for funding. Their mission is to encourage fair access to
financial resources for America’s underserved people and communities. If your
business idea is one that can help create jobs and provide economic development
in what is considered a distressed area, you may have access to funding to help
support your business.
These
are only a couple of resources that are available to entrepreneurs to help them
get funds when their efforts are focused on meeting the needs of a specific
group. In this case it is those that are underserved. You business may already
be set up in this capacity, which is great. If not, you may want to consider
restructuring if it will help you obtain funding and meet the needs of your
preferred consumers. The advantage to this is that it gives your business an
alternative source for funding. However, if your business is not already set up
to meet their criteria, it may be difficult to restructure your business. I
hope this helps you in you search to find ways to fund your business!
-Mike Sears
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