For instance, you’ll need to find the right type of investor and make sure they offer a strong track record of success, financial stability, and goals and values that align with yours. But how should you go about systematically ensuring that you can go the distance with any investors you partner with? 

Here are a few key points to consider when planning for a long and mutually beneficial partnership.

Determine What an Investor Brings to the Table

Research is an important first step when it comes to finding the right partner or investor to bring into your business. A good place to start is with an investor database like Pitchbook that can connect you with different types of investors. (If you’d like an example of what you’ll find on Pitchbook, take a look at the profile for angel investor Sky Dayton.) These kinds of databases can provide you with an overview of what to expect.

Whether you need a partner to invest and help you manage operations, an angel investor who can serve in a mentorship role, or the cash infusion offered by venture capital, it’s essential to understand what different investors can do for your business.

Consider Recent Investments and Partnerships

Experience is key to ensuring a long and beneficial relationship with an investor, so when you meet, you’ll want to fully understand a potential partner’s past investments. This might begin with a listing of companies they’ve invested in and how those experiences worked out.

Have they invested wisely in successful companies? When have they failed, and how did it impact their investment strategies moving forward? You want to make sure that they have a good track record with companies like yours and ask about potential conflicts of interest where their other investments or partnerships are concerned.

Finally, you need to obtain references so that you can contact them and find out what to expect in terms of interactions and alignment with a particular investor or firm.

Compare Goals and Values

If you’re an established business seeking investment dollars, it’s probably because you have a plan to upgrade, expand, or otherwise boost your current operations. 

With a business plan in place, you have the best opportunity to approach potential investors and get a read on whether their goals align with yours. If you’re seeking a long-term partnership and an investor wants to get in and out quickly, it might not be a good match.

It’s also important to find a value-aligned investor that believes in your business and your vision. For example, if you have fundamental differences with an investment company’s culture, how they operate, or their acceptable levels of risk, it can lead to conflict down the line. 

You will want to take a proactive approach and make sure you agree on salient points before tying yourself to an investor.

Pinpoint Conflicts of Interest

You might naturally assume that any potential investor, firm, or partner would avoid doing business with you if they had a conflict of interest, but you need to err on the side of due diligence, since it will impact your business. 

They may not be keen to divulge all their investments, but you either need to get the full picture in advance or create language in the contract that guarantees there are no conflicts of interest.

Meet With Several Prospective Investors

If you were seeking a business loan, you’d comparison shop to find the best terms and conditions. This makes for a sound strategy when it comes to locating suitable investors or partners for your business as well.

Finding the right type of investor and using research platforms and social media to learn about their experience and values can help you narrow the field of candidates. From there, you can meet with a variety of prospects to get a feel for what your working relationship might be like.

Learn About the People Behind the Companies

An entity may be investing in you, but you’ll still be working in partnership with people, and you need to feel comfortable and confident in those relationships. This means not only researching the company, but also the people you’ll be dealing with. It’s especially important when you partner with an angel investor who will act in a mentorship role.

When you take time to understand different types of investors, along with their experience, values, and potential conflicts, you have the best chance to find the companies and investors capable of moving your business forward to a profitable future.

The post Unlocking the Secrets to a Successful Partnership: How to Vet Companies and Investors appeared first on MyVenturePad.com.

Dogecoin is a decentralised cryptocurrency in which a network of nodes, rather than a single party, maintains the digital ledger.

As a result, there is no central authority to disseminate cryptocurrency worldwide. As a result, the distribution of currencies has been designed to be decentralised.

Dogecoin Mining: An Overview

The protocol issues and releases Dogecoin in a pre-programmed manner. The miners are the recipients of the new mine Dogecoins. These crucial network players are the ones who mine and get rewarded with cryptocurrency in exchange.

The term mining is derived from removing valuable metals from the ground, as they too must be mined at a cost in terms of work and energy.

While Dogecoin miners pay fees and expend energy, they are not the consequence of delving into the ground pursuing precious metals.

The energy used to mine Dogecoin goes into dedicated computer machines, which power processors in a global competition to solve cryptographic riddles for a fee.

How to Mine Dogecoin?

How to get Dogecoin for free? The donation of computing power, also known as hashpower, to the Dogecoin network is required to contribute to Dogecoin mining. Miners with access to computer processing power can participate in mining because Dogecoin is an open, permissionless system like Bitcoin.

It was feasible to mine Dogecoin using home CPU and GPU computer gear in the early days of the cryptocurrency. However, because of Dogecoin’s recent popularity, the network receives an increasing amount of hash power, making mining more challenging.

Dogecoin can no longer be mined effectively with a computer processing unit (CPU). To give relevant hashpower to the network, at least a powerful graphic card unit (GPU) or, better still, an application-specific integrated (ASIC) mining computer is required.

Step-by-Step Guide

You must take the following fundamental steps:

Step 1: Buy Hardware to Mine Dogecoin

Purchase mining hardware or determine whether your CPU/GPU is capable of mining. You’ll need ASIC computers designed for script-based mining to mine Dogecoin profitably.

Official producers or resellers can sell them to you. It’s not uncommon to run into supply constraints.

Step 2: Install Server and Update Drives

Download and install the appropriate software (CPU, GPU, or ASIC) required to run the ASIC or CPU/GPU miners and any necessary GPU driver updates.

Step 3: Join a Mining Pool to Mine Dogecoin

Create an account with a compatible mining pool. The top five Dogecoin mining pools may be found here.

Step 4: Connect your Device with the Pool

To mine Dogecoin, you must first create an account with a mining pool and then use that account to link your mining machines to one of the mining pool’s servers.

Many tutorial videos on achieving this with ASIC machines or GPU/CPU. Many sites provide GPU and ASIC examples.

Step 5: Create a Dogecoin Wallet

You must register your payout address with your pool account to get any revenue from block rewards. If you haven’t already downloaded and set up your Dogecoin wallet, now is the time to do so.

Step 6: Start Mine Dogecoin

After set up, your mining pool’s account settings will monitor your hash rate, revenue, and payment. Most mining pools provide a dashboard or even an app to keep track of your mining operations.

How does Dogecoin Mining Work?

Dogecoin’s blockchain uses the same technology as other cryptocurrencies to add new blocks to its decentralised ledger and find consensus among network users.

This technique, known as “Proof-of-Work” (PoW), entails “mining,” in which individuals or organisations compete for the opportunity to add new blocks containing pending transactions to the blockchain ledger by employing specialised computer equipment.

Miners use their machines to try to construct a fixed-length code known as a “hash” with a value equal to or lower than the “target hash” of the new block.

Dogecoin Mining Hardware

DOGE mining can be done with three different types of hardware:

• CPU: Even today, your computer’s central processing unit may be an option, but it is not encouraged because it can damage your computer by overheating it.
• GPU: A graphics processing unit can mine Dogecoin since it is more powerful than a CPU.
• ASIC: A computer machine designed particularly to produce hashes is known as an application-specific integrated circuit. ASICs are significantly more powerful and, predictably, more expensive than GPUs.

Dogecoin Mining Software

You’ll need to get the software with your hardware once you’ve decided on it. Here are some of the most popular software solutions right now:

• CPU: Mine Dogecoin by Pooler
• GPU: EasyMiner is ideal for novices, CudaMiner is optimised for Nvidia GPUs, and CGminer works with all GPUs.
• ASIC: ASIC miners can also use CGminer and EasyMiner; however, most ASIC miners use MultiMiner.

Dogecoin Wallets

A dogecoin wallet is required for mining and serves as a secure storage location for any dogecoin rewards earned. A public key address for transmitting and receiving DOGE and a private key to access it makes up a crypto wallet. Types of wallets are listed below:

• Online: Anyone interested in mining dogecoin for pleasure can utilise an online wallet.
• Hardware: These are said to be the safest way to store cryptocurrency. These are offline crypto storage devices that look like USB sticks.
• Software: These are stored locally on your computer or mobile device rather than on the internet, making them more secure. You can utilise third-party software wallets or download the original dogecoin wallet.

Conclusion

“How to mine Dogecoin” is a common Google search phrase as more individuals look for a quick way to get DOGE without buying it on a cryptocurrency exchange.

The word “crypto mining” may sound daunting, but put your chisel, pickaxe, and shovel away because your computer is the only thing working here.

You’ll need a powerful GPU to mine cryptocurrency. Is it possible to mine cryptocurrency with outdated hardware? Yes, in the majority of circumstances, unless you selflessly desire to give your resources to the DOGE network despite operating at a loss, you’ll get paid little.

The post How to Mine Dogecoin- Earn free DOGE with your Laptop? appeared first on MyVenturePad.com.

While there are differences among the thousands of companies worldwide across multiple industries, some of the most used funding methods to firms are the following.

Retained earnings

Most companies acquire profit by selling products or services. As one of the most basic sources of funds for any company, this is the preferred way, and the business might use some of this in combination with an external source. The income that’s left after obligations and expenses is known as retained earnings (R).

Debt capital

Companies borrow money regularly. This is accomplished through various avenues, including SME grants, personal relationships, bank loans, or publicly through a debt issue. Debt issues are also known as corporate bonds, which permit many investors to serve as the lender to a company.

If you’re borrowing money, the main consideration is paying the principal and interest to the lender. Failing to pay the interest or repay a principal can lead to default or even bankruptcy. The interest paid on debt is generally tax-deductible for the company, plus the interest costs tend to be cheaper than other capital sources.

Equity capital

Businesses can raise capital by selling off ownership stakes through shares to investors who become stockholders. The advantage of this method is that investors don’t need interest payments compared to bonds, so this type of capital can be acquired even when the first isn’t earning any money.

The main consideration is that future profits need to be divided among all shareholders. Moreover, equity shareholders will get voting rights, which means that a company shares some of its ownership control as it sells off more shares. Equity capital is also one of the most expensive forms of capital for a firm and does not come with some tax benefits like generic debts.

As the old saying goes, “you have to spend money to make money.” Every company will need to raise funds to develop products and expand into new markets.

When evaluating loans or companies, it is crucial to look at their track record and available loans or the possibility of assistance for SME grants. Remember to do ample research and create a solid plan for using your funding before you commit.

You may also consider other options. For instance, if you’re unhappy with your business loan provider, you may consider refinancing with a better provider. A new lender can also offer other niche options, including debt financing, supply chain finance, block discounting, overdraft, social enterprise package, or even COVID-19 relief loans.

Whatever funding you choose, what matters is your willingness to risk and plan comprehensively to reach your business goals.

The post Business Funding Considerations for Struggling Companies appeared first on MyVenturePad.com.

Before you get to the promised land, though, you’ll need to come up with funding. If you’re not independently wealthy, you’ll need to get that money somehow, or your idea will remain nothing more than a shining vision that never comes to fruition.

Let’s go over some of the more realistic funding ideas that exist.

Small Business Loans

If you’re going to use small business funding to grow your business, then getting a bank or credit union loan is one of the more traditional ways to do that. To do so, you’ll need to:

• Approach the bank or credit union loan officer
• Have a well-thought-out business plan
• Convince them of your idea’s validity

The issue you might encounter is that some banks and credit unions are notoriously dubious with small business plans. You’ll have to wow them if you’re going to get funding this way.

Use Your Own Money

People sometimes call using your own money for your business “bootstrapping.” It’s risky because if your company goes belly-up, it’s your own money that’s probably gone for good. To do this, you might:

• Drain your savings and checking accounts
• Cash in your CDs
• Cash in your IRA or 401K

Any of these are undeniably risky prospects. You have to genuinely believe in the business plan to launch a startup this way. 

Still, if you believe with all your heart that you have a winning idea, then putting your own money into it might start a legendary success story.

Borrow from Friends or Family

You can also approach a family member or friend if you know they’re well off financially. It will be the same as with a bank or credit union loan officer. You should have a business plan that you can show them, rather than just a vague idea.

Perhaps they’re willing to help you with funding. This carries risks, though. If the business is not successful, it will be quite challenging to pay back the money that the friend or family member loaned to you.

Your relationship with them might sour because they want that money back, and it could be years till you can get it to them. Friendships and familial relationships sometimes end because of money squabbles, so you’d better think about that before you broach the subject.  

Crowdsourcing

You might also try crowdsourcing. There are platforms through which you can try to solicit money from strangers, such as Kickstarter and GoFundMe.

With this sort of enterprise, you’re trying to convince not a single bank loan officer, but many individuals the world over. If you’re going to tug on their heartstrings and get them to fund your project, you’ll have to connect with them somehow.

This strategy is most likely to succeed if your project sounds like an idea that will benefit the world in some meaningful way. If your project is something run-of-the-mill that doesn’t stand out, you probably won’t get to your fundraising goal.

Accelerators or Incubators

Accelerators or incubators often exist close to colleges. If your university has a well-known business program, they are more likely to be there.

These spaces act as a combination of mentorship development centers and communal workspaces. You can sometimes find individuals that share your vision and partner with them. Some may have seed money, so you can get your idea going with their assistance.

The only issue is that these programs usually exist for tech-related projects. If that’s not what you have in mind, then no one in one of these spaces is likely to help you.

Contests

You’ve probably watched shows like “Shark Tank,” and maybe dreamed of going on them. That’s often impractical, though.

You have a chance to do something similar on a local level if you enter a contest with your startup idea. Local small business associations and commerce chambers sometimes award grants and have contests with cash prizes for the winners. You’ll need a plan that, if you win, will create an entity that will help the local community.

You might decide to try not one of these ideas, but several. Perhaps you may even go down the list, trying the ones that seem most promising first. If you want to get your startup going badly enough, though, you’ll probably be willing to attempt just about anything to make that happen.

The post 6 Viable Options for Startup Funding appeared first on MyVenturePad.com.

When to Look for Funding

The answer to when you should look for small business funding is going to be different for each business. Most business owners know when it’s time to look for funding options. Often, a small business will look for funding when it doesn’t have enough money to cover basic expenses. 82% of small businesses will fail because of a lack of cash flow. Funding helps keep you from being another statistic.

You can use business funding for the following expenses:

• Inventory
• Staff hiring
• Equipment
• Working capital
• Additional locations
• Debt

It doesn’t matter why your business needs the money. Small business funding will help. The next step, once you know it’s time to look for funding is to know what to look for.

What to Look for in Funding

When trying to decipher what type of business funding you need, you have to look at your finances. Figure out what your business is spending and figure out where your business will be months from now. When you do this, you can estimate how much money you’ll need. Several factors affect the type of funding that you need. You will have to consider the following:

• Time frame
• Amount necessary
• Independence
• Industry
• Connections

You need to keep in mind that some financing options will take longer, some will have more control over your debt and others will depend on the connections that you have. Funding comes in two different categories. There is debt funding, that is essentially a loan and then there is equity funding where you give up partial ownership of your company and control for money.

Many people choose traditional term loans. Business loans may be from a traditional lender or you could receive a loan from a personal lender. Another option is the SBA loan. This is from a bank, but the loan is guaranteed by the SBA.

When it comes to funding, you have to know what to look for. There are so many different small business funding options that it might be intimidating at first. However, when you look at the conditions of your business, the decision may be easier.

The post Your Guide to Small Business Funding appeared first on MyVenturePad.com.

If so, there has never been a better time to start your own business.

While you may be worried that your budget is already overburdened, many students have actually funded their business ideas by adopting lesser known but very creative strategies.

4 Creative Ways to Fund Your Business as a College Student

Just because you’re a college student doesn’t mean you can’t take on the title of CEO, too. In fact, there are a number of reasons why starting a business while in college makes perfect sense.

So long as you have a good idea and plenty of drive, these four creating funding methods will take care of the money.

1. Speak with Alumni

One of the best reasons to launch your business while you’re still a student is because you’ll probably never have this much access to free advice again.

Your college’s alumni association is full of people who would love to help students at their alma mater.

Best of all, many of them are going to have experience in the field you plan on entering. Contact them and politely ask for a meeting to pick their brain a bit.

If your idea eventually becomes promising enough, you might even have your first investor or two along with all the free advice you’ve just received.

2. Apply to an Incubator

A much more direct approach is to seek out an incubator program for college students.

Not every city has them and in order to apply for most of them, your business either needs to be up and running (though not necessarily profiting yet) or you’ll need a very sound business plan.

However, the payoff will be focused attention by proven experts in your field and potentially a lot of money for your idea.

3. Take Advantage of Crowdfunding

If you have a solid, well though-out idea but no incubators in town or generous alumni with deep pockets, you still have one massive opportunity: crowdfunding.

In short, crowdfunding to raise money for your business entails using platforms like Kickstarter to find investors all over the world. More investors mean each one has to provide less cash to get your business off the ground.

4. Leverage Your Private Student Loan

Despite what you may have heard, you can definitely use your student loans to cover living expenses.

While popular college pastimes like late nights at the bar and going on Spring Break don’t count as “living expenses,” this category does cover:

• Rent
• Utilities
• Groceries

Those first two are very important. Don’t waste money finding office space. Just run your business out of your college apartment, which you’re paying for with your student loans, and use the money you pay for your new company.

Don’t Wait to Bring Your Business Idea to Life

As you just saw, college students have fourproven options for funding their business ideas, so there should be no reason to delay. The longer you hesitate, the better the chances are of someone else stumbling upon your winning idea.

So take steps right now and by the time you graduate, you may no longer need to worry about finding that first job – because you already created one.

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