Business Financial Option

In past posts I discussed how to deal as a freelancer artist and contractor.  I also discussed what you should expect from your clients.  This week I want to touch on something current in my professional growth, which is finance.  Although this sometimes-discouraging term has deterred me from ever truly delving into the subject, I’d like to discuss the importance that I have over looked in the past.

Financial Decision Making is a huge part of deciding weather to start a business or invest in an idea.  As creative people I have found we tend to have ideas with no plan of how to achieve them or how to create a profit.   What makes a good idea a good idea?  What makes an idea more successful than other?  How do you find investors?  I recently found a few websites to help with financial research and I’d like to share my findings.  Although there are many routes to securing finance for your new business what’s the best and most profitable way?

Recently, I read an article about two guys that took an idea and turned it into millions.  You can read the full article here.  Inc.com reports that Ben Lerer and Adam Rich and their company Thrillist made over 32 million last year and even with their significant growth they are still looking for a cash growth because they are expanding their company.

The author of this article Christine Lagorio, further says “Lerer told me the $13 million will go in the bank so Thrillist can create or buy new brands and hire more people: "When we have conviction of what direction to go in, we don't want to have to forego something."

What does this mean for their company?  Is this a good or bad decision to take on investors after they are already yielding a profit?  I am still researching to find answers to these questions this article is just one of many amazing resource.  Let me know what you think.  What are some of your financial resources?