Founder’s capital. Prepare for your start-up by saving. It will take much more money than planned. Consider inviting a wealthy and trustworthy friend or relative to be a co-founder, and perhaps silent partner. Other people and firms who might consider investing want to see that the founders are truly committed to the venture with their own funds.
	Friends and family. These people believe in you and your ideas. They want you to succeed. They are mostly interested in the founders and whether the concept sounds interesting. Many of them say, “If you, the founders, are committed to this, I know it will work out. Count me in.” Usually they do not conduct a complete evaluation, but invest based on faith. Their knowledge of the founders is the key factor that helps them get the risk to a manageable level. Most of these supporters come in prepared to lose their investment in order to support the founders in fulfilling their dream. You can sell unregistered securities through a Private Placement Offering (PPO) to friends and family who qualify as accredited and sophisticated investors. Engage security attorneys to ensure compliance with Security and Exchange Commission (SEC) and state ‘Blue Sky’ requirements.
	Government grants. Government funding, at the national, state, and local levels, can support development of new technology at research institutions and support entrepreneurial activity. The technology from research organizations can ultimately be transferred to start-up businesses. Explore what government sources are available for your venture. For example, apply for SBIR (Small Business Innovation Research) grants administered through the various US government agencies.
	Barter. What services or products do you have or will have that one of your service providers may want? Rather than pay cash, barter. Explore how you can exchange a product or service instead.
	Stock options. Talented people can often be enticed to work for equity as a form of compensation. Rather than fork out the firm’s limited cash, explore setting up a Stock Option program for employees as well as consultants and service providers.
	Corporate fees and grants. Engineering expenses for consulting and custom development may be covered by commercial accounts interested in applying your technology to their pressing concerns. These corporations get an early look at the product offering and have the ability to greatly influence its direction. Additionally, these firms may evolve into long-term strategic partners.
	Revenue from product licensing and sales. Once you have a product available, revenues from its licensing and sales activity can help bootstrap the firm. Choose projects that will generate cash to fund your ongoing operations.
	Angel investors. Angel-investor networks have formed throughout the country. These high-net-worth individuals are sophisticated investors interested in early-stage private equity investment in emerging firms with great potential. They may also want a management or board position in your firm as part of the deal.
	Venture capitalists (VCs). After considerable due diligence, these firms make private equity investments in promising early-stage companies. Venture capitalists’ primary goal is to maximize financial return while getting the risk to a manageable level. In exchanging their money for an ownership stake in the company, VCs also bring business acumen, contacts, and seasoned board experience to the firms in which they invest.
	Debt financing. Some firms find debt financing through banks and other financial institutions and investors. The funds must be repaid plus interest. For example, the US Small Business Administration has a business loan program that works in conjunction with banks.

Practical Pointers for Proactive Financing

It’s time for some proactive fund raising. Here are a few of the vital steps:

	Assess. Do you have a winning plan? What resources do you realistically need? Understanding where you are now is the foundation for creating a successful road map to get to where you want to go.
	Act. It requires courage to take action. What’s holding you back from attracting the funds needed for success?
	Get Help. Get all the assistance you can get. Sometimes it takes outside expertise. Technology and Management Solutions works with clients to fine-tune their business plans and get the financing they need.

The E in Sunflower

Passionate Pursuers ® — people who successfully find and pursue a worthwhile purpose with intense interest, enthusiasm, and dedication — have nine winning traits. Consistent with the bold flower on the cover of Pursuit of Passionate Purpose, each trait aligns with a letter in the word SUNFLOWER.

E – Energy. The capacity to do work — energy — is a habit of vigorous activity and forceful expression. Your head, heart, and hands are your energy centers. Passionate Pursuers have the energy to pursue their intentions.

How would you answer this question: “Do I have the energy to do what I need to do?” If your energy is not at the level you would like it to be, you are not alone. Many hindrances on the path of life can deplete your energy. Take the Self Inventory on page 54 of Pursuit of Passionate Purpose to assess how well you are doing with all nine traits.

Good news! There are many simple ways to increase your energy level. What are your energizers? What are you doing to strengthen their impact in your life?

Practical Pointers for Increasing Your Energy

	Be aware. Notice what makes you feel alive, engaged, and energized.
	Meditate. Meditation is one such useful technique to increase energy.
	Remember. We get so busy, we often forget what energizes us.
	Surround. Encircle yourself with a support team that strengthens the collective memory and reminds you what energizers to bring along.

Selected Upcoming Events

Starting Friday, October 28, 2005 (available for one month). Webinar for the Project Management Institute’s Information Systems Special Interest Group (PMI-ISSIG) entitled: “A GOOD Project or a GREAT Project? Ways to Have More Fun and Produce Extraordinary Bottom-Line Results.” Visit www.pmi-issig.org for information.

Thursday, November 3, 2005. “Pursuit of Passionate Purpose: Motivating the Motivator.” A keynote address for the Association of Agency Executives in Colorado. By invitation.

Thursday, November 17, 2005. FREE presentation on “Practical Tips for Small Business Pursuits of Passionate Purpose.” 5:30 PM MST at the After Hours Grand Opening at OfficeMax. 16557 Washington Street, Thornton, CO. The first 50 attendees will receive a FREE autographed copy of Pursuit of Passionate Purpose. The public is invited to attend at no charge. Bring a friend!

Be the BUZZZZ

Be a BUZZ AGENT about Pursuit of Passionate Purpose and Theresa’s work. A grass roots effort is the best way to build momentum. Please keep me in mind for speaking / consulting at your business program, organizational events, and media opportunities.

The Holidays are Coming!

Give the gift of Passionate Purpose. Bestow the book, Pursuit of Passionate Purpose, as a present. It is available wherever books are sold, including www.PursuitofPassionatePurpose.com.

NEW! The book discussion guide is now available in a bound, 8.5 in. x 11 in. workbook with the 4-color “2-4-6” Success Formula poster as the cover. Consider how you can use this tool along with the book to improve communications in your family and work situations. Sam Pottinger, past president of Boulder Rotary, is using this workbook to facilitate deeper, more meaningful conversations with his family.

TAKE ACTION!

Revamp your financing programs so you can make money. Re-energize yourself and your workforce to take your business to the next level. Let Technology and Management Solutions, the catalyst for your extraordinary results, help you and your organization thrive in these challenging times

Thrive in 2005,
Theresa M. Szczurek, Ph.D.
CEO, Entrepreneur, Consultant, Speaker, and Author

P.S. Pass it on. Feel free to share this newsletter with your colleagues.