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Guidance Can Be More Helpful Than Funding When Launching a Business

  • “Contrarian entrepreneur” Carey Smith suggests that too much emphasis is placed on acquiring funding when starting a business
  • Smith encourages entrepreneurs to focus on finding the appropriate guidance to ensure the success of their venture
  • Entrepreneurs should have a clear purpose in launching their company rather than just an aspiration to make money

Anyone launching a business needs to be prepared to incur costs ranging from commercial leases to purchasing equipment. While entrepreneurs often invest their personal funds in a venture, they also seek assistance from lenders, venture capitalists, or other funding sources.

However, aspiring business owners can also become fixated on the idea of acquiring or generating enough money. In a recent post for, Carey Smith suggests that entrepreneurs will get more value from seeking out guidance from business owners who have successfully built a company from the ground up.

Smith founded the industrial fan company Big Ass Fans, sold it in 2017, and established the business incubator and venture capital company Unorthodox Ventures in Austin, Texas. The company promises to assist entrepreneurs with branding, developing products, finding markets, and other services rather than just providing money.

In his article, Smith suggests that cash from venture capitalists is often less helpful than entrepreneurs might believe, since aspiring business owners frequently need less money than they think and considerably less money than venture capital firms are willing to invest. He says entities that provide assistance with creating a business plan, finding suppliers, marketing, and other aspects allow entrepreneurs to focus on the important aspects of running a business that ensure the long-term sustainability of the venture.

Smith says entrepreneurs also need to be willing to commit to their business instead of just seeking to make a tidy profit. He suggests that entrepreneurs should have a clear purpose in launching a company, namely to provide a product or service to address a problem or market need.

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