Create Your Life Series

CYLS 022: How to Raise $8.7 Million Dollars For Your Business While Uplifting Your Community With Sharon Joseph Owner And Founder Of Harlem Lanes

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In this episode of the CYLS, Sharon Joseph explains her strategies to raising $8.7 Million Dollars for her venture and why she turned down $1.7 million dollars to move forward. She also shows us how we can economically empower our communities with our endeavors.

 

Here are more tips from Sharon.

 

  1. Have 3 Plans - Bbusiness plan, Operation plan & a Life plan
  • Pick a great location for your business, location is important
  • Get on the ground and do the work - doing survey’s and market research in the street with potential customers
  • Take care of yourself and your health (Sleep and have a work/life balance)
  • Use resources from your college and MBA program
  • Use resources from your job as well, may be consulting opportunities
  • Use local government if you are doing something in the community
  • Get mentorship from other businesses in the community
  • Get the community involved in your business and the idea of it= these are funding opportunities

    •  

    Ways to find funding - 

    Look into the industry you are in and see where funding for other ventures is coming from

  • Use lenders but be smart, get smart money, she turned down 1.7 million dollars because it was not good money

  • Use small business resources like the SBA.gov or Score.org,

  • Find government agencies looking to do community economic empowerment and have social impact

     

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    Create Your Life SeriesBy Kevin Y. Brown
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