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Funding Investors understand that you'll need money to get your product idea off the drawing board. Investors want to know what you're going to do with the money once they give it to you. They'll want to make sure you're clear about how to allocate it properly to develop the business and that you won't be using it to take a vacation. You'll need to show how much you require, what you're going to use it for, how long the money will last, and how much revenue you'll generate. How much money will you need? You'll need to realistically estimate what you'll need to grow your invention. Make a list of everything you'll need and then allocate a dollar amount for each item. Remember that some expenses are one-time events (e.g., marketing reports, equipment to build a prototype, filing for a patent) and others are recurring (e.g., office rent, utilities, salary). Calculate the total expenses needed for the first and second years. Here are some sources to get funding for your product idea: Huntington Capital Small business investment company Small Business Administration Financing information your business CustoMatrix Financial advice (ask for Eric Chriss) Tech Coast Angels Technology angel investors Booklet How to Get Money For Your Invention
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