Venture Capitalists

Woot Woot! Ten followers, look out here I come!!

As usual I like to think that people give a shit about what my company is up to and where exactly we are in our steps towards becoming the coolest clothes since those Tommy Hilfiger socks that had the logo on them. Remember those?

As of right now my company is in the process of trying to write up a business plan and expense sheets and all of that goodness. I am three months into this idea and have read about needing to write a business plan if you want your business to be a success but, I am yet to do so.

Future entrepreneurs take note, this is not the way any conversation you have about your business should go:

"What is your company?"- Curious Friend
"A clothing line"- Me
"What kind of clothes though?"- CF
"Like athletics and stuff like that. You know, shirts and hoodies and what not."-Me
"What is your goal? Like where do you see yourself in five years?"- CF
"Our goal is world domination"- Me

World domination is not in any way, shape or form a business plan. No joking at all if you want your business to be taken seriously at all by anyone, even your friends and family you must be able to make a lasting impression on them within five minutes of them asking you what your plans are and what you are about. This is all advice I have recently gotten from a friend of mine that has experience in the particular field of Business Management. I knew that writing a plan was going to be necessary at some point if we ever wanted investors or to get a bank loan but I was kind of trying to avoid it because the thought of writing a business plan kind of intimidated me, and to be honest it still kind of does. But, it is very necessary and pivotal to the future success of my business. So, I am going to suck it up and get my ass busy writing one. My friend gave me a couple of really good sites and a couple templates to look out for writing my plan which I am oh so appreciative of. Like I told you in the last post you better use all of the free sources that you can and friends with college course experience in Business Management are golden!

I had heard from some people that I needed to do this plan but I didn't take it seriously because I am the type of person that doesn't like to listen to other people when they just tell me something and don't give me the reasons as to why. The Business Management guy told me that I should write up the plan and expense/potential income spreadsheets and what not and try to pitch my idea to some venture capitalists. I hadn't even thought of venture capitalists. Up until I had spoke to my friend the only thing I thought of when I heard venture capitalists was "Hey, that is what the guys in Wedding Crashers posed as... Holy Shirts and Pants." After doing a little bit of research I found out that venture capitalists are basically groups of guys and or girls that pool a bunch of money together and take calculated risks on different types of companies. They, for the most part, don't invest in clothing lines but I figure this gives me some motivation to do the shit that I need to do for my business anyways. I read somewhere online that 98% of ideas pitched to venture capitalist are turned away. After I read that I was like "Damn, I could be in that two percent and then be on the way to world domination!". Ok, I am joking obviously. I look at it as an opportunity to speak with individuals about something I love, my clothing line. If nothing else it will be a great experience and potentially the financial break that my company needs.

“When you’re trying to raise an investment for your venture, every ‘no’ gets you closer to a ‘yes’ only if you know why you've been rejected.”

Thanks for reading guys and gals and thank you all for your support!