What is Startup Funding? Ask an Expert Jade Alberts December 24, 2021 Business 0 Comments What Is Start-Up Funding?Startup Funding is the capital you require to start and grow your business. There are many different sources for start-up funding.For example, some entrepreneurs use their own money, or borrow money from family and friends. There are many government programs where entrepreneurs can seek grants and loans.Once a start-up has gotten some traction then funding may come from financial institutions including banks, Angel Investors or Venture Capitalists.Learn MoreIf you’d like to go even deeper and answer the question ‘How Do I Get Start-Up Financing For My Business?’ then click on this link. Transcript 00:00[Music]00:03welcome to the ask a business expert00:04podcast my name is gordon shepard and00:06today on the show we are interviewing00:08jade alberts now jade is a founder of00:11peer guidance and what he does he00:13focuses on helping startups to move00:16through the stages of angel investing00:18and venture capital investing and he’s00:20really just a massive proponent in this00:22space he’s made an exit himself he’s00:25helped others to exit from their00:26businesses and he’s looking for kind of00:28that next piece along the way but he’s00:31also aware of entrepreneurs sort of00:33mental health and making sure that if he00:35doesn’t have the answer someone in his00:37ecosystem does now we are lucky enough00:40that he contributed an article to00:42askthebusinessexpert.com and it’s called00:45how do i get startup funding for my00:47business and in there he goes through00:49six terrific steps that you can you know00:52have as a takeaway that you can actually00:53use to get startup funding in your00:55business and also you’re gonna get a00:57chance to reach out to jade himself00:58because he gives his contact information01:00at the end of this terrific interview01:02but with that in mind i want to take you01:03right there here’s the interview with01:05jade alberts jade welcome to the show it01:08is so good to have you here01:10yeah thanks for uh thanks for inviting01:11me gordon i’m always uh i’m always01:13pumped to share my uh knowledge and01:15stories about uh the great things that01:17are going on with entrepreneurship in uh01:19our wonderful province of alberta01:22well and alberta and beyond in terms of01:24the advice you’ve been able to give in01:25terms of because like we were so lucky01:27for the01:28askthebusinessexpert.com where you01:29contributed an article talking about you01:31know six great ways to get um you know01:34funding for your startup for for small01:36businesses and i’m looking forward today01:38to digging into that article but before01:40we kind of get started on that um i01:42wanted to take a second like if you had01:43to introduce yourself what would you01:45tell people01:47well i guess there’s lots of ways to do01:49that but professionally uh you know i’m01:52the founder of pure guidance purpose01:53before profit i’m an entrepreneur angel01:55investor and i love helping startups01:58grow scale and exit i myself have exited02:00a business i’ve helped three others exit02:02a business02:03and just connecting with like-minded02:05people02:07it just it just gives me passion and02:09drives my02:10my my true inner entrepreneurship um you02:13know to give back02:15well and i know one of the core02:16philosophies that you bring up in the02:18article and i’ve seen it all over your02:20website is this idea especially because02:22you’re working in a space where you’ve02:24had success and not many people get to02:26make an exit i mean that’s02:27percentage-wise it wouldn’t be as many02:29but you’re able to do that successfully02:31but you’ve got this idea of telling it02:33like it is yeah when you say that why is02:36it important to you and and what do you02:37mean when you say that kind of thing02:40uh it’s basically just02:42being honest is is it’s a nicer way of02:45saying that right without saying that02:46you need to be honest uh it’s so02:49important to tell people what02:51they they need to hear it’s not about02:54telling them what they want to hear they02:55got their families and friends and and02:57things like that to tell them that you02:58know what’s good go ahead but what they03:00do need is someone to come down there03:02and give them the brutal truth and it03:04might not always be brutal it might be03:05great truth it might be holy holy smokes03:07this is great i had a conversation with03:09a with um a team today and they are03:12doing awesome things and they don’t need03:14peer guidance as help like so it’s like03:15holy smokes i can make three or four03:17introductions to you you guys are doing03:18great keep doing what you’re doing and03:20we’ll go from there and you know that’s03:22not always the case either but it’s03:24really important to make sure that03:26you’re honest with these people you’re03:27telling them exactly what uh03:29you know the advice that they may need03:32to grow and of course you’re there to03:34help them if they if they want the help03:36well and no knowing that you’ve walked03:38in their path in a sense they must get a03:41lot of assurance from that so that when03:43you go to say03:44the things that they need to hear i’m03:46going to guess you’re in a great03:47position again to give the peer guidance03:49that you’re able to give to them i’m03:51going to jump right here into the03:52article because i know that when we03:53kicked off and we got going like saying03:54what kind of article can you contribute03:55and what would you like to talk about03:56you said one of the questions you get03:58all the time is how do i get funding04:00yeah right and you’re able to sort of04:02help really structure this article in a04:04great way that gives some very practical04:06steps that we kind of can walk through04:08and i’m just going to remind you about04:09the header from the first step which is04:12you want to make sure that if you’re a04:13startup you can prove that a real04:15customer04:16wants to buy what you are selling why is04:18that sort of the you know someone said04:20hey i’m looking for funding uh they’ve04:22come to you for looking for advice but04:24you’re saying wait a second you have to04:25prove there’s a customer first why is04:26that so important well i mean if there’s04:29no customer there’s no business i mean04:31that’s that’s just the04:33the the end the end-all be-all you know04:35question right if you go out there and a04:37lot of customers a lot of angels are or04:39investors in in our ecosystem here and04:41it which differs from the valley in04:43toronto and in other places in the world04:45but04:45really we want to see we want you to04:47scale your company with our investment04:50not build it04:51get out there show that you can do it04:53show that you can sell show that you can04:55you know put yourself out there grind it04:57out i mean a lot of us did it and one of04:59the most things i’m proud of is we were05:01able to bootstrap our business the05:03entire way and that’s not very easy but05:06we found people that wanted to buy it we05:07just kept re you know reinvesting05:09reinvesting05:10um you know not all companies want to do05:12that if you want to scale fast that’s05:14where you need the investment but if05:15you’ve proven that somebody wants what05:17you’re selling it is so much easier to05:19get somebody to to back you with the05:22finances05:23and so i don’t just get to watch an05:24episode of dragon’s den and show up with05:26a good idea and just get some money05:28well you will but you can see how some05:30of those end on dragons then05:31oh my goodness05:33the second step is don’t ask for05:35investment too early now what do you05:38mean when you say that in the article05:40well it’s kind of the same concept a lot05:41of people get out there and say oh yeah05:43well you know i05:45i’m good everybody else does it they05:46look and see oh this guy got investment05:48or this guy got investment and and05:49companies all over the world are getting05:51investments but05:53you know if you spend too much time05:55going out there and and it is important05:57to go out there and network and05:58introduce yourself but if your first05:59question is walking into seeing jade or06:02seeing randy thompson or startup team or06:04whoever you know brian from motiquity06:06and saying yeah i’m looking for money06:08can you help me06:10well i mean i’m not interested in that i06:11want to learn more about you i’m06:13investing in you our investment’s a you06:15know a five to ten year type marriage06:16like it’s a long term thing i want to06:19know and if that’s all you’re interested06:21in in our relationship it’s not that06:23appealing to me it’s more of a one-way06:25so06:26you know focus on your business if you06:28come and and show me that you’ve done06:31that not you know growing your business06:32and you say hey i’m looking for advice i06:34need to scale i’m looking for06:36you know some investment how do i get06:38investment would you be able to help me06:39can can can i pitch to you those types06:42of things you know down the road a06:44little bit but you got to work in your06:45business you got to show us that you’re06:47there06:48just asking for money isn’t gonna isn’t06:51gonna open any doors for you so you06:53better make sure that uh you know you06:55use your your networking uh abilities to06:58to really ask for help before you ask07:01for money07:02this makes total sense and i think if07:04that’s the one piece that people took07:05out of here obviously when they’re going07:07to approach an angel or maybe even07:09venture capital or whatever it is we’re07:11starting to hear sort of both sides of07:12the equation and when you mention a five07:14to ten year relationship why would you07:16want to get married before you went on a07:18date we hear that frequently in terms of07:19how things are going i know the third07:21point you make in your article rings so07:23true for me because i’ve done the lone07:24wolf thing just way too much and only in07:27the last couple years have i really07:29learned how to you know reach out and07:31ask for help but i know you’re a big fan07:33of this kind of idea why do you think07:36startups need to ask for help07:38yeah you’re not alone i mean this it’s a07:40journey and you know not too many people07:42make it by themselves they have a good07:44team around them whether that’s friends07:46to start and then of course then you add07:49add the people that you need to as you07:50grow but07:52you know it’s kind of like an idea an07:53idea is a starting point as soon as you07:55ask yourself gordon you’ll give a couple07:57points you ask me i’ll give a couple07:58points ask my wife she’ll give something08:00then that idea turns into a potential08:02business and it’s no difference when08:04you’re scaling you start putting the08:05right people in in place you start08:07asking peer guidance or you’re going out08:09to ask these investors saying hey can08:11you introduce me to someone that knows08:13how to scale a business or i need some08:15help with financing can you can you08:17introduce me to someone that can really08:18work on my books and again that’s how08:20that relationship starts and you don’t08:22need to do this alone everybody out08:24there has solved your problem at one08:27point and chances are when you’re out08:29there networking and you’re asking for08:31this help they’re gonna introduce you08:32the person that went walked in your08:34shoes already and and then that makes it08:36so much less stressful so because i mean08:39being an entrepreneur is a roller08:40coaster as we all know the ups and downs08:42the stresses08:43and and anything that you can do and08:46anybody that you can reach out to to ask08:48for help makes that journey so much more08:50enjoyable i think that makes total sense08:52it’s actually the entire philosophy of08:55what we’re doing here at ask a business08:56expert we know there’s too much to do we08:58know you’re good at what you do09:00how do we then surround you with that09:01right team at the right time to get you09:03the answers that you need to move09:05forward in that moment it’s just i’m so09:07appreciative of your philosophy and09:09completely agree with where that’s going09:11now the other part is when people are09:12thinking about asking for money it can09:14be pretty uncomfortable09:15are investors accessible i mean in terms09:18of what you’re talking about here in the09:20next step it’s this idea of actually09:21being able to reach out to them you mean09:22i can just pick up the phone or walk up09:24to them like what do you mean when you09:26say reach out to investors oh yeah i09:28mean it’s09:29just start emailing them09:31you know start local and09:33and and i said there’s lots out there09:34you reach out to to start up tnt and09:37then09:38you’ll be able to to meet a lot of09:39investors there you come to a thursday09:41night networking event at uh you know09:43with tnt you’ll meet you know other09:45investors you come to founders coffee09:47tuesday mornings09:49you’ll meet investors and that’s how09:51it’s you just need to do it and build09:54that relationship slowly as i mentioned09:56before because no one’s just going to09:57cut you a check i mean09:59again not probably not in alberta and10:02you know again it differs in other10:03markets but when when things are here it10:06is a relationship so starting that10:08relationship as you said your first date10:10you’re not getting married before you go10:11on your first date so you know go in10:13there start to get with them go for10:15coffee go for lunch and the best thing10:17about our ecosystem is it’s very10:19collaborative and that puts a big big10:21smile on my face and once you have10:24somebody that you know likes you10:25believes in you believes in your10:27business believes in your vision your10:29scalability and everything that comes10:30around with it chances are they’re going10:32to bring on other10:33um investors with them to to get you10:36more money to give you more of a runway10:38so whether it be thin air we’ll work10:40with the ticketing with mtac with tnt10:42and and10:43ark and the hunter family and you know10:46blue blue sky they all work together and10:49um and and that’s something that’s great10:51so if someone knows that you’ve done a10:53lot of the due diligence and you10:54understand it they each have their own10:56criteria but they your they will10:59introduce me open more doors for you and11:01when a when an angel opens you know when11:03a vc gentleman phones and says hey i11:05want to i have this guy we’re going to11:07invest do you want in on the deal well11:10he’s doing the work for you he’s your11:11champion so you know getting that11:13relationship started early and uh is11:16very very important11:18don’t be shy that’s what i can hear here11:21make sure you get out there and in fact11:23you’re the angels or the vcs they’re11:25trying to win too so they actually want11:27to meet you they want to know especially11:29if you’ve got your ducks in a row they11:30actually want to get out there as well11:32number five goes back to your point11:34about telling it like it is because you11:37want in the article you’re explaining to11:39entrepreneurs to say be ready for tough11:42questions11:43that’s an example of a tough question11:45that you would sort of bring forward11:46that you know an entrepreneur needs to11:48ask and why are tough questions like why11:50are being why why should they be ready11:52yeah i mean every every investor has11:54their own thesis so you know the tough11:56questions will differ for for someone11:59that’s really wants a tech orientated12:01company their tough questions are going12:02to be tech12:04and things along those lines my thesis i12:07i look at your your scalability your mrr12:10the founder and then kind of tech falls12:11down a little12:13if it is a tech company that is of12:14course uh but i mean i i want to see how12:18you handle problems i want to see how12:20you get out there so like talking about12:22your market opportunity talking about12:24who have you talked to who have you what12:26doors have you banged on those types of12:28things i don’t want to hear well i might12:30be calling on on you know company xyz or12:33you know i’ve got a list put together i12:35want to see if you have the initiative12:37to go out there i want to know how those12:39conversations went i want to know why12:41they’re saying no12:43so i can maybe we can help you12:45get those no’s into yeses12:48your competition i want to know what’s12:49out there i want to know what12:50differentiates you so knowing your12:52competition inside and out is something12:55that’s extremely important you know how12:57are you going to build up your team not12:59just well i’m going to hire a cfo i’m13:00going to hire this i want to know who13:02you want to hire why you want to hire13:03them what type of person do you want to13:05hire so i mean it gets into you know of13:07course then financials get into their13:09own hard questions and things along13:11those lines but13:12i mean they don’t seem like they’re hard13:14questions but once you13:16you know you’re kind of in front of the13:18investors and you’re talking about it13:20and those and those are just kind of13:22lead off questions so we’re all asking13:24and opening softball questions to see13:26how you answer it and then we’re going13:28to get dive into some of the you know13:30the harder questions when you answer13:31those questions so it is very important13:33to kind of you know to know your13:35like you can’t get by just winging it13:38you have to have that plan you have to13:40know it and you have to be able to13:41articulate it to people13:43i’m hearing bring the names and bring13:46the numbers that’s very different from i13:49hope it’s going to happen and that13:50really is you know as long if you can13:52get through this sort of gauntlet of13:54fire from these tough questions13:57what you’re going to need is what you’re13:58mentioning in number six in the article13:59which is you must as the entrepreneur14:01have the drive to succeed14:03when you you know you’ve experienced14:04this yourself you’ve demonstrated that14:07um when you’re talking to a startup and14:10they’re looking for funding and you say14:12you’ve got to have the drive to succeed14:13do you do you tell your own story how do14:15you encourage them to to sort of have14:17that you know muster up that courage14:20yeah i mean they’re investing in you14:22right i mean it’s it’s14:23you14:24when when people start a business you14:26know you are the brand and the brand is14:28you so if you can’t go out there and14:31articulate what you’re going to sell or14:32go out there and sell or be passionate14:34about it14:36and it doesn’t even have to be your14:37full-time job it could be a side of the14:38desk thing to start so many start there14:40but you know what you’re like yeah well14:42i have to run it like this because i14:44have to pay my bills i have to feed my14:45kids i have to pay my mortgage14:47everybody understands that you just14:48can’t dive in and give up your entire14:50life some people do and you know it’s14:53it’s it’s a little risky but14:55no one was going to chagrin that you’re14:56doing something as a side desk but this14:58is my goal i want to be here i want to14:59get to this point so let’s see your15:02drive let’s see you know i’m spending15:03you know my eight hours at work spending15:05you know three hours with my family and15:06kids and things like that or whatever it15:08is and and then i’m spending x amount of15:10hours on my business but my goal is to15:12be here i’m making these calls i’m15:14sending out these emails i am there i’m15:16driven i i want to be there we got to15:19see the passion i want to see the fire15:21because there’s i mean there’s probably15:23700 startups in i’m just going to use15:25alberta right now pretty much all of15:27them are looking for funding so if15:29someone knocks on tnt’s doors or brian’s15:31doors or eat on doors15:33what’s going to differentiate what’s15:34going to get you in15:36it’s going to be you they have to15:38believe in you so that that is such a15:41big part of15:43of what people invest in15:46that is super super clear and i think15:48anybody that’s just sort of even again15:50taking that last minute out of what you15:51just said if they can take that alone to15:54go forward because really i love that15:56piece that you’re saying you are the15:57brand right there’s not you’re not known15:59to anybody really in these early days so16:01you know investors are investing in you16:03i mean these are great tips i know that16:05people are going to be able to go to the16:06ask a business expert you know com blog16:09catch this article you know by you as16:11well but people are also going to want16:12to be able to maybe just see this and16:14get directly in contact with you so if16:15they had to do that what’s the best way16:17to get in touch16:18oh man i’m everywhere16:22you know you can email me our email is16:24guidance at peerguidance.ca16:26our website is peerguidance.ca16:29you know linkedin obviously i’m all over16:31linkedin with some of the things that we16:33do16:34even founders coffee that if you want if16:36you want a face to face i’m a big16:38face-to-face guy we we go every tuesday16:407 30 a.m at red’s diner in kensington16:43um startup tnt is thursday nights if you16:45again you want to meet me in person uh16:48at 6 00 pm on um16:50at briggs diner in in calgary here on16:5310th and again i’m open and i mean even16:55if it’s just a talk even if it’s16:57struggling um16:59and you’re spinning your tires or even17:02if your mental wellness isn’t there and17:04and things along those lines you know17:05please reach out we’re here to help17:07there’s so many people that can help you17:09even if i can’t help you on on the17:11business side or or the health side i17:14can guarantee you i know somebody that17:16will and that’s what we’re all about17:17we’re a collaborative ecosystem and we17:20you know i say it asking for help is not17:22a sign of weakness so please please17:25reach out at any given time and i will17:28be there and and hopefully introduce you17:30or help you myself jade your passion for17:33this startup space is so clear you’re17:36giving back in so many different ways i17:38know you’ve had your own success people17:40are going to get a lot out of this17:41interview thank you so much for being on17:43the show17:44i appreciate what you’re doing and17:45bringing awareness and helping other17:46startups i mean and we’re all in this17:48together gordon so thank you for17:51for putting this together and the ask17:53ask a business expert i think is going17:54to be a huge success and a huge resource17:57to many startups you know moving forward18:00you know i think one of my biggest18:01takeaways from that interview is this18:03concept of not trying to do it alone18:06i’ve been there myself and you end up in18:08sort of a bubble and18:10you’re not you know reaching out for18:12help but if you’re going to be an18:13entrepreneur and if you’re going to run18:14a business i mean absolutely there are18:17so many things to learn so many things18:18that you’re just never going to be you18:20know the right person for but if you18:21know who to ask if you know where to18:23reach out to get the help then that can18:25be very very valuable and in fact when18:27you’re reaching out to people like jade18:29you’re also helping them to win because18:31they’re mining for gold right they’re18:33looking for businesses that they can18:35actually get invested in and scale18:38themselves i mean just a a terrific18:40interview there and i really enjoyed all18:42the points that he went over and if you18:43want to read those points in more detail18:45please check out the article called how18:47do i get startup funding for my business18:49on the ask a businessexpert.com18:52website there’s also a download that18:54you’re going to find embedded in that18:55article as well just click there you can18:57take those sort of six points away that18:59you can use and put into action for19:00yourself19:01and if you have a question we would love19:04to hear from you we just really19:06appreciate it when you send them in and19:07we can actually then go and find the19:09expert to get the answer for the19:11business question that you have19:13ask a business expert dot com please get19:15in touch we look 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