Tuesday, January 14th

In class today we talked about the different ways to finance your business. The most common way is to get a loan from a bank to start your business. However we learned today that there are a number of of other sources where an entrepreneur can receive money for their business. There are a few competitons in Sioux City alone that give out cash prizes to the people with the best business. This is a great way to get your buissness known and get funding as well. Also there are some sites that allow people to donate to your idea. This is all money the entrepreneur doesn't have to pay back. 

Today when we watched Shark Tank two entrepreneurs came on with a very simple idea. To put lights in a cooler. This is a very simple but useful idea. They also had a patent on their product so no one else could produce another cooler like this. They did get invested and I agree with it. I would invest in this product because they have a patent and they clould probably sell the product for the same or close to the same price as a regular cooler. For this reason I would invest in this product.