If you are an entrepreneur looking for sources of funding for your business, you have surely heard about obtaining small business loans through your bank, applying for lines of credit, and possibly, asking for funding from family and friends. There is, however, another popular source of financial support: funding through investors. According to the Angel Investment Network, a Canadian web-based service that matches investors seeking investments with entrepreneurs seeking capital, Angel investors are currently investing over $3 billion in Canadian businesses each year. “This number would be substantially higher if these Angels were better able to find and review new types of investment opportunities.” So how can one become better prepared to approach investors? What does it take to be perceived as an “investable” entrepreneur? Black Ink spoke with Joanna Track—the president of Sweetspot.ca, Canada’s first online, trend-spotting lifestyle guide of its kind. Starting with a newsletter in 2004, Sweetspot.ca has tripled its revenue since an investment from Rogers Communications Inc. made Joanna’s “sweet” dreams come true! BIM: What motivated you to create Sweetspot.ca? Joanna Track: The concept was inspired by a similar business in New York called DailyCandy. I worked in advertising and transferred to New York where I was introduced to DailyCandy . . . I found that there was nothing like it in Toronto when moved back about six or seven years … [Read more...]