If you’re a first-time entrepreneur with a business idea, you probably need to do a lot of research and planning before youâ€™re able to persuade anyone — banks, angels, friends or family members — to give you funding.
Entrepreneur.com reports that startup boot camps can help. Their sole purpose is to teach you how to write a business plan and to take hard look at your financial needs and prospects. Itâ€™s also a chance to address the shortcomings in your idea and develop answers to the tough questions anyone would ask before handing you money. These programs may take place over a weekend, several weeks or even a few months.
By providing a framework to learn about running a business, a boot camp can make you accountable for tasks you should be doing anyway. These programs are often free or subsidized by foundations, universities or local governments that are looking to spur employment and economic growth.
* Bizdom U
To locate a program in your area that suits you, do a web search using as keywords the type of program that interests you, such as foundation or accelerator. Also make sure to include your city or region.
Photo by Ann Arbor SPARK Entrepreneur Boot Camp.