Risk & Business Magazine Mooney Insurance Fall 2015 | Page 24

Financing Growth

Financing Early Stage Growth for Entrepreneurs
BY: GREG CRABTREE, PARTNER, CRABTREE, ROWE & BERGER, PC

T

he entrepreneurial conundrum:
you have a product or service that
the market really needs, but how will
you finance it? For many, this is the
hardest hurdle to pass. Here are my
recommended sources of funding,
ranked in order of best outcomes.
Profits
Surprised this tops the list? Don’t be!
If you can get the current activity level
of your business to a 10%-15% level of
profitability, your business funds its
own growth. It generally means slower
growth in the early stages, but it builds a
commitment to profitability which then
bankrolls fut