Military Spouse Magazine

MAR 2019

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O U R L I V E S Take Your Business to the Next Level A behind-the-scenes look at getting investors on board. By Liza Rodewald, Co-Founder of Instant Teams, Army Spouse IS IT TIME TO TAKE THE NEXT STEP FOR YOUR MILSPOUSE-OWNED BUSINESS, BUT YOU'RE NOT QUITE SURE HOW YOU COULD FUND YOUR STARTUP OR GROWTH ENDEAVORS ALL ON YOUR OWN? As a business owner myself, I completely understand the desire to do it all. But leveling up with equity financing can take your vision to new heights. My co-founder, Erica McMannes, and I took the fundraising leap during the summer 2018. We quickly realized that it's difficult to know what to expect having never pursued equity financing through investors before. To help other military spouse entrepreneurs, I'm pulling from our personal experience and revealing what you need to know about each startup funding stage. Get ready to identify the best "jumping off" point and how to throw your hat in the ring to make your dreams a reality. STAGE ONE: BOOTSTR APPING + FRIENDS & FAMILY When Erica and I had a little spark of an idea for what's now known as Instant Teams (formerly MadSkills), we jumped into hardcore planning and mapping out the launch of our MVP (mini- mum viable product). What's a minimum viable product? It's the product or service you're taking to the market know- ing there will be multiple versions of it down the road. Ultimately, the faster you get it into the world, the faster you'll get feed- back to improve it. Think progress, not perfection! But how can you get to that launching point and inject the funding needed to bring your seed of an idea to life? Photos provided by Liza Rodewald 22 MILITARYSPOUSE.COM / MARCH 2019

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