How To...

by Ann Bucy

SBJ Contributing Writer

For the person who has a great business idea but no money to make it all happen, there are investor-financing options and resources available in Springfield.

The Small Business Administration, Small Business Development Center and Springfield Area Chamber of Commerce all offer tips on matching entrepreneurs with investors.

"It's always difficult for start-up businesses to find investors," said James Combs, branch manager of the Springfield SBA office. "You're unproven, convincing someone you'll be successful."

Combs said he believes the best way to find investors is to do a lot of research on the kind of company the entrepreneur wants to start, have a well-developed business plan, demonstrate that there is a market for the product, show that it is a good proposal and never over promise anything.

"Conservative investors know that (over promising) isn't realistic," Combs said.

Greg Williams, director of business and industry attraction for the Springfield Area Chamber of Commerce, said, "A year ago we determined a need for a network of people with well-thought-out business plans to be matched with prospective investors and business owners."

So the chamber developed the Venture Capital Network Forum. The forum meets four times a year at the chamber offices and gives business owners and entrepreneurs a chance to show their business plans to bankers, CPAs, consultants and manufacturing controllers.

"Four plans are presented at each forum, and each one does a dry run," Williams said.

For more information or to set up an appointment for the Venture Capital Network Forum, call Williams at 862-5567.

Jane Peterson is the director of the Small Business Development Center. She states the center's objective as "getting entrepreneurs to the point where they realize they need help. We consult them on problems. Our goal is to make them more profitable."

SBDC's tips for finding investors include: having a finished presentation to show them; having financial information in order; having a realistic loan request; having an understanding of the finances it will take to run the business; and having a vested stake in the venture.

The Small Business Development Center also suggests its business planning course.

In addition, SBDC offers courses on financial management, marketing and international trade.

The business planning course, according to the catalog, is a "nuts and bolts approach" to establishing the business plan. Attendees learn to take their knowledge about their businesses and turn that knowledge into working plans.

The next business planning course is

6-9 p.m. March 3 and 5. For more information, call the center at 836-5685.