Using Other People's Money

The Stay Tuned blog would like to continue to focus on the overall business aspects of starting your music business. Today, we would like to focus on the most important part: getting money. We talked previously about what to include in your business plan to get money. Now we will tell you how to use the internet to help you obtain finances to start you music company. There are websites out there that offer tools and services to help entrepreneurs get their business ventures off the ground. Let's have a look at some of these sites and opportunities.

One website, the CDVCA, offer funds and investments to "businesses in economically distressed areas" within the United States and also internationally. The Community Development Venture Capital Alliance (CDVCA) look for mission-driven business opportunities that will be beneficial to people of low-wealth homes and communities, while working to earn solid financial returns.

According to their website, "CDVC funds are looking to invest in companies with strong management, good ideas, impressive growth potential, and the promise of high financial returns. They also focus on the number and quality of jobs that will be created and the impact their investments will have on low-income communities." They are looking to see how your music company will help create jobs and benefit the families in your community. The website also offers more information on obtaining venture capital and what it is. They have links to articles and commentaries posted in the New York Times.

Another good site is the Association for Enterprise Opportunity (AEO) website. The AEO represents and serves the small, typically underserved, entrepreneurs in the United States. According to their website, the AEO's mission is to support the development of strong and effective U.S. microenterprise initiatives to assist underserved entrepreneurs in starting, stabilizing, and expanding businesses.

AEO itself does not handle the financing, but has several funding companies and "microenterprise development organizations" that it has partnered with. The website has a search feature for entrepreneurs to find the nearest funding specialist to help them get their business venture off of the ground.

In partnering with the AEO, they can offer:

• Platform to showcase your organization's impact and innovation through our new website, revitalized working groups and other exciting opportunities
• Access to valuable services and products from a growing national network of partners
• Networking with peers, potential partners and funders
• Collaboration on tailored marketing and business development initiatives for our members
• Effective voice in Washington on critical policy matters
• Support in identifying and filling critical training needs for your organization
• Opportunity to shape and participate in AEO agenda and initiatives

And these are not the only sites out there to help you. There are many sites that offer help, tools, and services to meet your needs of getting your label or music business from idea to reality. Continue on your research path and find the resources best for you and your vision, and what you hope to accomplish with your venture.

Until the next blog, Stay Tuned.