Still, the biggest challenge most businesses will face when trying to increase capital isn't choosing the method that is most efficient, or the method most likely to work—according to Greg, the biggest challenge is finding "affordable debt or equity at agreeable terms."
So how, exactly, can businesses do that? Greg gave the example of FedEx founder Fred Smith, who talked to 13 investors before someone bit on his idea for an overnight-delivery shipping service. In other words, be persistent and get the word out when searching for investors. "It's all about shopping and sourcing," Greg said. He recommended seeking out referrals from family, friends or other sources. "Lenders tend to trust referrals from people they know, so referrals may be a more effective way to find debt or equity than cold-calling banks and other resources."