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

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

 

Ways to find funding - 

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

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

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

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

 

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