Chapter 8. Financing Your Work
In Chapter 7, we said that an enterprise needs key resources, activities, and collaborations. This all comes at a cost and, if the maker wants to turn into an entrepreneur, she must understand how to face that.
Classic Funding Sources
Two traditional financing sources are:
- Asking friends and relatives
- Asking a bank
Let’s look in detail at these.
The Friends and Family Network
Many small entrepreneurs start by investing their savings and, for any remaining needed funds, asking parents, relatives, and lifelong friends.
It is often fairly easy to convince them: they are people who have seen us grow up, they love us, and they want us to be successful. They are already set to believe in what we believe in, they ...
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