Advice on Raising Startup Capital for a Creative Organization – Ask Evan

hi I’m Evan Carmichael and welcome to

hi I’m Evan Carmichael and welcome to another edition of ask Evan in today’s

another edition of ask Evan in today’s

another edition of ask Evan in today’s video I’m going to answer question from

video I’m going to answer question from

video I’m going to answer question from one of our readers you know who is

one of our readers you know who is

one of our readers you know who is trying to raise capital and asks I need

trying to raise capital and asks I need

trying to raise capital and asks I need ten thousand dollars to establish my

ten thousand dollars to establish my

ten thousand dollars to establish my organization which deals with talent

organization which deals with talent

organization which deals with talent that’s acting creative writing poetry

that’s acting creative writing poetry

that’s acting creative writing poetry singing dancing modeling I’ve written

singing dancing modeling I’ve written

singing dancing modeling I’ve written some scripts that need to produce under

some scripts that need to produce under

some scripts that need to produce under my organization using actors and

my organization using actors and

my organization using actors and actresses in the organization and also

actresses in the organization and also

actresses in the organization and also produce some other projects with the

produce some other projects with the

produce some other projects with the above talents so he’s asking about

above talents so he’s asking about

above talents so he’s asking about raising capital and my thought here is

raising capital and my thought here is

raising capital and my thought here is your honesty your best bet is bootstrap

your honesty your best bet is bootstrap

your honesty your best bet is bootstrap this thing start up capital is the

this thing start up capital is the

this thing start up capital is the hardest money to raise you end up

hardest money to raise you end up

hardest money to raise you end up spending most of your time out there

spending most of your time out there

spending most of your time out there trying to raise capital and you get a

trying to raise capital and you get a

trying to raise capital and you get a really bad valuation if you’re going to

really bad valuation if you’re going to

really bad valuation if you’re going to get an investor an angel investor to

get an investor an angel investor to

get an investor an angel investor to give you money they’re going to take a

give you money they’re going to take a

give you money they’re going to take a big chunk of your company because you

big chunk of your company because you

big chunk of your company because you don’t have anything yet you don’t have

don’t have anything yet you don’t have

don’t have anything yet you don’t have money coming in and if you’re going to

money coming in and if you’re going to

money coming in and if you’re going to go into a bank you’re going to go to

go into a bank you’re going to go to

go into a bank you’re going to go to another organization is going to lend

another organization is going to lend

another organization is going to lend you money because you’re so new you’re

you money because you’re so new you’re

you money because you’re so new you’re going to probably have really high

going to probably have really high

going to probably have really high interest rate to you always get the

interest rate to you always get the

interest rate to you always get the short end of the stick when you’re

short end of the stick when you’re

short end of the stick when you’re trying to raise capital as a start-up my

trying to raise capital as a start-up my

trying to raise capital as a start-up my best advice of you would be trying to

best advice of you would be trying to

best advice of you would be trying to boot strap it up try to focus on the

boot strap it up try to focus on the

boot strap it up try to focus on the services that you can do without

services that you can do without

services that you can do without spending money and as a new business I

spending money and as a new business I

spending money and as a new business I hate spending money before making money

hate spending money before making money

hate spending money before making money you know you might have to do a web

you know you might have to do a web

you know you might have to do a web sites and business cards but try not to

sites and business cards but try not to

sites and business cards but try not to spend any money until you have money

spend any money until you have money

spend any money until you have money coming in and that way you know that

coming in and that way you know that

coming in and that way you know that your product your service is working is

your product your service is working is

your product your service is working is a lot of entrepreneurs will spend tons

a lot of entrepreneurs will spend tons

a lot of entrepreneurs will spend tons of money on an idea they think is great

of money on an idea they think is great

of money on an idea they think is great and then nobody wants to buy it so

and then nobody wants to buy it so

and then nobody wants to buy it so you’ve flushed all this money down the

you’ve flushed all this money down the

you’ve flushed all this money down the toilet and so if you can focus on your

toilet and so if you can focus on your

toilet and so if you can focus on your making money first even if it’s a little

making money first even if it’s a little

making money first even if it’s a little bit and invest in those rockets back to

bit and invest in those rockets back to

bit and invest in those rockets back to the business you know you’re going after

the business you know you’re going after

the business you know you’re going after market where you can actually make some

market where you can actually make some

market where you can actually make some money so try to focus on those services

money so try to focus on those services

money so try to focus on those services instead of products the start because

instead of products the start because

instead of products the start because there’s no investment besides your time

there’s no investment besides your time

there’s no investment besides your time and I would strongly encourage you to

and I would strongly encourage you to

and I would strongly encourage you to try to boot strap it up to the point

try to boot strap it up to the point

try to boot strap it up to the point where you have that money coming in and

where you have that money coming in and

where you have that money coming in and then you can invest your profits back

then you can invest your profits back

then you can invest your profits back into your company

into your company

into your company so maybe not what you want here but the

so maybe not what you want here but the

so maybe not what you want here but the best advice that I can give you based on

best advice that I can give you based on

best advice that I can give you based on the question that you asked so I hope

the question that you asked so I hope

the question that you asked so I hope that helped I’d love to hear your

that helped I’d love to hear your

that helped I’d love to hear your thoughts and feedback you want to leave

thoughts and feedback you want to leave

thoughts and feedback you want to leave a comment below and please give it a

a comment below and please give it a

a comment below and please give it a thumbs up too if you like the video and

thumbs up too if you like the video and

thumbs up too if you like the video and stay tuned for the next episode