Peer Guidance

What is Startup Funding? Ask an Expert

Startup Funding

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 More

If 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]

00:03

welcome to the ask a business expert

00:04

podcast my name is gordon shepard and

00:06

today on the show we are interviewing

00:08

jade alberts now jade is a founder of

00:11

peer guidance and what he does he

00:13

focuses on helping startups to move

00:16

through the stages of angel investing

00:18

and venture capital investing and he’s

00:20

really just a massive proponent in this

00:22

space he’s made an exit himself he’s

00:25

helped others to exit from their

00:26

businesses and he’s looking for kind of

00:28

that next piece along the way but he’s

00:31

also aware of entrepreneurs sort of

00:33

mental health and making sure that if he

00:35

doesn’t have the answer someone in his

00:37

ecosystem does now we are lucky enough

00:40

that he contributed an article to

00:42

askthebusinessexpert.com and it’s called

00:45

how do i get startup funding for my

00:47

business and in there he goes through

00:49

six terrific steps that you can you know

00:52

have as a takeaway that you can actually

00:53

use to get startup funding in your

00:55

business and also you’re gonna get a

00:57

chance to reach out to jade himself

00:58

because he gives his contact information

01:00

at the end of this terrific interview

01:02

but with that in mind i want to take you

01:03

right there here’s the interview with

01:05

jade alberts jade welcome to the show it

01:08

is so good to have you here

01:10

yeah thanks for uh thanks for inviting

01:11

me gordon i’m always uh i’m always

01:13

pumped to share my uh knowledge and

01:15

stories about uh the great things that

01:17

are going on with entrepreneurship in uh

01:19

our wonderful province of alberta

01:22

well and alberta and beyond in terms of

01:24

the advice you’ve been able to give in

01:25

terms of because like we were so lucky

01:27

for the

01:28

askthebusinessexpert.com where you

01:29

contributed an article talking about you

01:31

know six great ways to get um you know

01:34

funding for your startup for for small

01:36

businesses and i’m looking forward today

01:38

to digging into that article but before

01:40

we kind of get started on that um i

01:42

wanted to take a second like if you had

01:43

to introduce yourself what would you

01:45

tell people

01:47

well i guess there’s lots of ways to do

01:49

that but professionally uh you know i’m

01:52

the founder of pure guidance purpose

01:53

before profit i’m an entrepreneur angel

01:55

investor and i love helping startups

01:58

grow scale and exit i myself have exited

02:00

a business i’ve helped three others exit

02:02

a business

02:03

and just connecting with like-minded

02:05

people

02:07

it just it just gives me passion and

02:09

drives my

02:10

my my true inner entrepreneurship um you

02:13

know to give back

02:15

well and i know one of the core

02:16

philosophies that you bring up in the

02:18

article and i’ve seen it all over your

02:20

website is this idea especially because

02:22

you’re working in a space where you’ve

02:24

had success and not many people get to

02:26

make an exit i mean that’s

02:27

percentage-wise it wouldn’t be as many

02:29

but you’re able to do that successfully

02:31

but you’ve got this idea of telling it

02:33

like it is yeah when you say that why is

02:36

it important to you and and what do you

02:37

mean when you say that kind of thing

02:40

uh it’s basically just

02:42

being honest is is it’s a nicer way of

02:45

saying that right without saying that

02:46

you need to be honest uh it’s so

02:49

important to tell people what

02:51

they they need to hear it’s not about

02:54

telling them what they want to hear they

02:55

got their families and friends and and

02:57

things like that to tell them that you

02:58

know what’s good go ahead but what they

03:00

do need is someone to come down there

03:02

and give them the brutal truth and it

03:04

might not always be brutal it might be

03:05

great truth it might be holy holy smokes

03:07

this is great i had a conversation with

03:09

a with um a team today and they are

03:12

doing awesome things and they don’t need

03:14

peer guidance as help like so it’s like

03:15

holy smokes i can make three or four

03:17

introductions to you you guys are doing

03:18

great keep doing what you’re doing and

03:20

we’ll go from there and you know that’s

03:22

not always the case either but it’s

03:24

really important to make sure that

03:26

you’re honest with these people you’re

03:27

telling them exactly what uh

03:29

you know the advice that they may need

03:32

to grow and of course you’re there to

03:34

help them if they if they want the help

03:36

well and no knowing that you’ve walked

03:38

in their path in a sense they must get a

03:41

lot of assurance from that so that when

03:43

you go to say

03:44

the things that they need to hear i’m

03:46

going to guess you’re in a great

03:47

position again to give the peer guidance

03:49

that you’re able to give to them i’m

03:51

going to jump right here into the

03:52

article because i know that when we

03:53

kicked off and we got going like saying

03:54

what kind of article can you contribute

03:55

and what would you like to talk about

03:56

you said one of the questions you get

03:58

all the time is how do i get funding

04:00

yeah right and you’re able to sort of

04:02

help really structure this article in a

04:04

great way that gives some very practical

04:06

steps that we kind of can walk through

04:08

and i’m just going to remind you about

04:09

the header from the first step which is

04:12

you want to make sure that if you’re a

04:13

startup you can prove that a real

04:15

customer

04:16

wants to buy what you are selling why is

04:18

that sort of the you know someone said

04:20

hey i’m looking for funding uh they’ve

04:22

come to you for looking for advice but

04:24

you’re saying wait a second you have to

04:25

prove there’s a customer first why is

04:26

that so important well i mean if there’s

04:29

no customer there’s no business i mean

04:31

that’s that’s just the

04:33

the the end the end-all be-all you know

04:35

question right if you go out there and a

04:37

lot of customers a lot of angels are or

04:39

investors in in our ecosystem here and

04:41

it which differs from the valley in

04:43

toronto and in other places in the world

04:45

but

04:45

really we want to see we want you to

04:47

scale your company with our investment

04:50

not build it

04:51

get out there show that you can do it

04:53

show that you can sell show that you can

04:55

you know put yourself out there grind it

04:57

out i mean a lot of us did it and one of

04:59

the most things i’m proud of is we were

05:01

able to bootstrap our business the

05:03

entire way and that’s not very easy but

05:06

we found people that wanted to buy it we

05:07

just kept re you know reinvesting

05:09

reinvesting

05:10

um you know not all companies want to do

05:12

that if you want to scale fast that’s

05:14

where you need the investment but if

05:15

you’ve proven that somebody wants what

05:17

you’re selling it is so much easier to

05:19

get somebody to to back you with the

05:22

finances

05:23

and so i don’t just get to watch an

05:24

episode of dragon’s den and show up with

05:26

a good idea and just get some money

05:28

well you will but you can see how some

05:30

of those end on dragons then

05:31

oh my goodness

05:33

the second step is don’t ask for

05:35

investment too early now what do you

05:38

mean when you say that in the article

05:40

well it’s kind of the same concept a lot

05:41

of people get out there and say oh yeah

05:43

well you know i

05:45

i’m good everybody else does it they

05:46

look and see oh this guy got investment

05:48

or this guy got investment and and

05:49

companies all over the world are getting

05:51

investments but

05:53

you know if you spend too much time

05:55

going out there and and it is important

05:57

to go out there and network and

05:58

introduce yourself but if your first

05:59

question is walking into seeing jade or

06:02

seeing randy thompson or startup team or

06:04

whoever you know brian from motiquity

06:06

and saying yeah i’m looking for money

06:08

can you help me

06:10

well i mean i’m not interested in that i

06:11

want to learn more about you i’m

06:13

investing in you our investment’s a you

06:15

know a five to ten year type marriage

06:16

like it’s a long term thing i want to

06:19

know and if that’s all you’re interested

06:21

in in our relationship it’s not that

06:23

appealing to me it’s more of a one-way

06:25

so

06:26

you know focus on your business if you

06:28

come and and show me that you’ve done

06:31

that not you know growing your business

06:32

and you say hey i’m looking for advice i

06:34

need to scale i’m looking for

06:36

you know some investment how do i get

06:38

investment would you be able to help me

06:39

can can can i pitch to you those types

06:42

of things you know down the road a

06:44

little bit but you got to work in your

06:45

business you got to show us that you’re

06:47

there

06:48

just asking for money isn’t gonna isn’t

06:51

gonna open any doors for you so you

06:53

better make sure that uh you know you

06:55

use your your networking uh abilities to

06:58

to really ask for help before you ask

07:01

for money

07:02

this makes total sense and i think if

07:04

that’s the one piece that people took

07:05

out of here obviously when they’re going

07:07

to approach an angel or maybe even

07:09

venture capital or whatever it is we’re

07:11

starting to hear sort of both sides of

07:12

the equation and when you mention a five

07:14

to ten year relationship why would you

07:16

want to get married before you went on a

07:18

date we hear that frequently in terms of

07:19

how things are going i know the third

07:21

point you make in your article rings so

07:23

true for me because i’ve done the lone

07:24

wolf thing just way too much and only in

07:27

the last couple years have i really

07:29

learned how to you know reach out and

07:31

ask for help but i know you’re a big fan

07:33

of this kind of idea why do you think

07:36

startups need to ask for help

07:38

yeah you’re not alone i mean this it’s a

07:40

journey and you know not too many people

07:42

make it by themselves they have a good

07:44

team around them whether that’s friends

07:46

to start and then of course then you add

07:49

add the people that you need to as you

07:50

grow but

07:52

you know it’s kind of like an idea an

07:53

idea is a starting point as soon as you

07:55

ask yourself gordon you’ll give a couple

07:57

points you ask me i’ll give a couple

07:58

points ask my wife she’ll give something

08:00

then that idea turns into a potential

08:02

business and it’s no difference when

08:04

you’re scaling you start putting the

08:05

right people in in place you start

08:07

asking peer guidance or you’re going out

08:09

to ask these investors saying hey can

08:11

you introduce me to someone that knows

08:13

how to scale a business or i need some

08:15

help with financing can you can you

08:17

introduce me to someone that can really

08:18

work on my books and again that’s how

08:20

that relationship starts and you don’t

08:22

need to do this alone everybody out

08:24

there has solved your problem at one

08:27

point and chances are when you’re out

08:29

there networking and you’re asking for

08:31

this help they’re gonna introduce you

08:32

the person that went walked in your

08:34

shoes already and and then that makes it

08:36

so much less stressful so because i mean

08:39

being an entrepreneur is a roller

08:40

coaster as we all know the ups and downs

08:42

the stresses

08:43

and and anything that you can do and

08:46

anybody that you can reach out to to ask

08:48

for help makes that journey so much more

08:50

enjoyable i think that makes total sense

08:52

it’s actually the entire philosophy of

08:55

what we’re doing here at ask a business

08:56

expert we know there’s too much to do we

08:58

know you’re good at what you do

09:00

how do we then surround you with that

09:01

right team at the right time to get you

09:03

the answers that you need to move

09:05

forward in that moment it’s just i’m so

09:07

appreciative of your philosophy and

09:09

completely agree with where that’s going

09:11

now the other part is when people are

09:12

thinking about asking for money it can

09:14

be pretty uncomfortable

09:15

are investors accessible i mean in terms

09:18

of what you’re talking about here in the

09:20

next step it’s this idea of actually

09:21

being able to reach out to them you mean

09:22

i can just pick up the phone or walk up

09:24

to them like what do you mean when you

09:26

say reach out to investors oh yeah i

09:28

mean it’s

09:29

just start emailing them

09:31

you know start local and

09:33

and and i said there’s lots out there

09:34

you reach out to to start up tnt and

09:37

then

09:38

you’ll be able to to meet a lot of

09:39

investors there you come to a thursday

09:41

night networking event at uh you know

09:43

with tnt you’ll meet you know other

09:45

investors you come to founders coffee

09:47

tuesday mornings

09:49

you’ll meet investors and that’s how

09:51

it’s you just need to do it and build

09:54

that relationship slowly as i mentioned

09:56

before because no one’s just going to

09:57

cut you a check i mean

09:59

again not probably not in alberta and

10:02

you know again it differs in other

10:03

markets but when when things are here it

10:06

is a relationship so starting that

10:08

relationship as you said your first date

10:10

you’re not getting married before you go

10:11

on your first date so you know go in

10:13

there start to get with them go for

10:15

coffee go for lunch and the best thing

10:17

about our ecosystem is it’s very

10:19

collaborative and that puts a big big

10:21

smile on my face and once you have

10:24

somebody that you know likes you

10:25

believes in you believes in your

10:27

business believes in your vision your

10:29

scalability and everything that comes

10:30

around with it chances are they’re going

10:32

to bring on other

10:33

um investors with them to to get you

10:36

more money to give you more of a runway

10:38

so whether it be thin air we’ll work

10:40

with the ticketing with mtac with tnt

10:42

and and

10:43

ark and the hunter family and you know

10:46

blue blue sky they all work together and

10:49

um and and that’s something that’s great

10:51

so if someone knows that you’ve done a

10:53

lot of the due diligence and you

10:54

understand it they each have their own

10:56

criteria but they your they will

10:59

introduce me open more doors for you and

11:01

when a when an angel opens you know when

11:03

a vc gentleman phones and says hey i

11:05

want to i have this guy we’re going to

11:07

invest do you want in on the deal well

11:10

he’s doing the work for you he’s your

11:11

champion so you know getting that

11:13

relationship started early and uh is

11:16

very very important

11:18

don’t be shy that’s what i can hear here

11:21

make sure you get out there and in fact

11:23

you’re the angels or the vcs they’re

11:25

trying to win too so they actually want

11:27

to meet you they want to know especially

11:29

if you’ve got your ducks in a row they

11:30

actually want to get out there as well

11:32

number five goes back to your point

11:34

about telling it like it is because you

11:37

want in the article you’re explaining to

11:39

entrepreneurs to say be ready for tough

11:42

questions

11:43

that’s an example of a tough question

11:45

that you would sort of bring forward

11:46

that you know an entrepreneur needs to

11:48

ask and why are tough questions like why

11:50

are being why why should they be ready

11:52

yeah i mean every every investor has

11:54

their own thesis so you know the tough

11:56

questions will differ for for someone

11:59

that’s really wants a tech orientated

12:01

company their tough questions are going

12:02

to be tech

12:04

and things along those lines my thesis i

12:07

i look at your your scalability your mrr

12:10

the founder and then kind of tech falls

12:11

down a little

12:13

if it is a tech company that is of

12:14

course uh but i mean i i want to see how

12:18

you handle problems i want to see how

12:20

you get out there so like talking about

12:22

your market opportunity talking about

12:24

who have you talked to who have you what

12:26

doors have you banged on those types of

12:28

things i don’t want to hear well i might

12:30

be calling on on you know company xyz or

12:33

you know i’ve got a list put together i

12:35

want to see if you have the initiative

12:37

to go out there i want to know how those

12:39

conversations went i want to know why

12:41

they’re saying no

12:43

so i can maybe we can help you

12:45

get those no’s into yeses

12:48

your competition i want to know what’s

12:49

out there i want to know what

12:50

differentiates you so knowing your

12:52

competition inside and out is something

12:55

that’s extremely important you know how

12:57

are you going to build up your team not

12:59

just well i’m going to hire a cfo i’m

13:00

going to hire this i want to know who

13:02

you want to hire why you want to hire

13:03

them what type of person do you want to

13:05

hire so i mean it gets into you know of

13:07

course then financials get into their

13:09

own hard questions and things along

13:11

those lines but

13:12

i mean they don’t seem like they’re hard

13:14

questions but once you

13:16

you know you’re kind of in front of the

13:18

investors and you’re talking about it

13:20

and those and those are just kind of

13:22

lead off questions so we’re all asking

13:24

and opening softball questions to see

13:26

how you answer it and then we’re going

13:28

to get dive into some of the you know

13:30

the harder questions when you answer

13:31

those questions so it is very important

13:33

to kind of you know to know your

13:35

like you can’t get by just winging it

13:38

you have to have that plan you have to

13:40

know it and you have to be able to

13:41

articulate it to people

13:43

i’m hearing bring the names and bring

13:46

the numbers that’s very different from i

13:49

hope it’s going to happen and that

13:50

really is you know as long if you can

13:52

get through this sort of gauntlet of

13:54

fire from these tough questions

13:57

what you’re going to need is what you’re

13:58

mentioning in number six in the article

13:59

which is you must as the entrepreneur

14:01

have the drive to succeed

14:03

when you you know you’ve experienced

14:04

this yourself you’ve demonstrated that

14:07

um when you’re talking to a startup and

14:10

they’re looking for funding and you say

14:12

you’ve got to have the drive to succeed

14:13

do you do you tell your own story how do

14:15

you encourage them to to sort of have

14:17

that you know muster up that courage

14:20

yeah i mean they’re investing in you

14:22

right i mean it’s it’s

14:23

you

14:24

when when people start a business you

14:26

know you are the brand and the brand is

14:28

you so if you can’t go out there and

14:31

articulate what you’re going to sell or

14:32

go out there and sell or be passionate

14:34

about it

14:36

and it doesn’t even have to be your

14:37

full-time job it could be a side of the

14:38

desk thing to start so many start there

14:40

but you know what you’re like yeah well

14:42

i have to run it like this because i

14:44

have to pay my bills i have to feed my

14:45

kids i have to pay my mortgage

14:47

everybody understands that you just

14:48

can’t dive in and give up your entire

14:50

life some people do and you know it’s

14:53

it’s it’s a little risky but

14:55

no one was going to chagrin that you’re

14:56

doing something as a side desk but this

14:58

is my goal i want to be here i want to

14:59

get to this point so let’s see your

15:02

drive let’s see you know i’m spending

15:03

you know my eight hours at work spending

15:05

you know three hours with my family and

15:06

kids and things like that or whatever it

15:08

is and and then i’m spending x amount of

15:10

hours on my business but my goal is to

15:12

be here i’m making these calls i’m

15:14

sending out these emails i am there i’m

15:16

driven i i want to be there we got to

15:19

see the passion i want to see the fire

15:21

because there’s i mean there’s probably

15:23

700 startups in i’m just going to use

15:25

alberta right now pretty much all of

15:27

them are looking for funding so if

15:29

someone knocks on tnt’s doors or brian’s

15:31

doors or eat on doors

15:33

what’s going to differentiate what’s

15:34

going to get you in

15:36

it’s going to be you they have to

15:38

believe in you so that that is such a

15:41

big part of

15:43

of what people invest in

15:46

that is super super clear and i think

15:48

anybody that’s just sort of even again

15:50

taking that last minute out of what you

15:51

just said if they can take that alone to

15:54

go forward because really i love that

15:56

piece that you’re saying you are the

15:57

brand right there’s not you’re not known

15:59

to anybody really in these early days so

16:01

you know investors are investing in you

16:03

i mean these are great tips i know that

16:05

people are going to be able to go to the

16:06

ask a business expert you know com blog

16:09

catch this article you know by you as

16:11

well but people are also going to want

16:12

to be able to maybe just see this and

16:14

get directly in contact with you so if

16:15

they had to do that what’s the best way

16:17

to get in touch

16:18

oh man i’m everywhere

16:22

you know you can email me our email is

16:24

guidance at peerguidance.ca

16:26

our website is peerguidance.ca

16:29

you know linkedin obviously i’m all over

16:31

linkedin with some of the things that we

16:33

do

16:34

even founders coffee that if you want if

16:36

you want a face to face i’m a big

16:38

face-to-face guy we we go every tuesday

16:40

7 30 a.m at red’s diner in kensington

16:43

um startup tnt is thursday nights if you

16:45

again you want to meet me in person uh

16:48

at 6 00 pm on um

16:50

at briggs diner in in calgary here on

16:53

10th and again i’m open and i mean even

16:55

if it’s just a talk even if it’s

16:57

struggling um

16:59

and you’re spinning your tires or even

17:02

if your mental wellness isn’t there and

17:04

and things along those lines you know

17:05

please reach out we’re here to help

17:07

there’s so many people that can help you

17:09

even if i can’t help you on on the

17:11

business side or or the health side i

17:14

can guarantee you i know somebody that

17:16

will and that’s what we’re all about

17:17

we’re a collaborative ecosystem and we

17:20

you know i say it asking for help is not

17:22

a sign of weakness so please please

17:25

reach out at any given time and i will

17:28

be there and and hopefully introduce you

17:30

or help you myself jade your passion for

17:33

this startup space is so clear you’re

17:36

giving back in so many different ways i

17:38

know you’ve had your own success people

17:40

are going to get a lot out of this

17:41

interview thank you so much for being on

17:43

the show

17:44

i appreciate what you’re doing and

17:45

bringing awareness and helping other

17:46

startups i mean and we’re all in this

17:48

together gordon so thank you for

17:51

for putting this together and the ask

17:53

ask a business expert i think is going

17:54

to be a huge success and a huge resource

17:57

to many startups you know moving forward

18:00

you know i think one of my biggest

18:01

takeaways from that interview is this

18:03

concept of not trying to do it alone

18:06

i’ve been there myself and you end up in

18:08

sort of a bubble and

18:10

you’re not you know reaching out for

18:12

help but if you’re going to be an

18:13

entrepreneur and if you’re going to run

18:14

a business i mean absolutely there are

18:17

so many things to learn so many things

18:18

that you’re just never going to be you

18:20

know the right person for but if you

18:21

know who to ask if you know where to

18:23

reach out to get the help then that can

18:25

be very very valuable and in fact when

18:27

you’re reaching out to people like jade

18:29

you’re also helping them to win because

18:31

they’re mining for gold right they’re

18:33

looking for businesses that they can

18:35

actually get invested in and scale

18:38

themselves i mean just a a terrific

18:40

interview there and i really enjoyed all

18:42

the points that he went over and if you

18:43

want to read those points in more detail

18:45

please check out the article called how

18:47

do i get startup funding for my business

18:49

on the ask a businessexpert.com

18:52

website there’s also a download that

18:54

you’re going to find embedded in that

18:55

article as well just click there you can

18:57

take those sort of six points away that

18:59

you can use and put into action for

19:00

yourself

19:01

and if you have a question we would love

19:04

to hear from you we just really

19:06

appreciate it when you send them in and

19:07

we can actually then go and find the

19:09

expert to get the answer for the

19:11

business question that you have

19:13

ask a business expert dot com please get

19:15

in touch we look forward to hearing from

19:17

you