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Book Review: How To Raise Money For Your Business:The Ultimate Guide For Startup Businesses by Bloomy Tokan

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How To Raise Money For Your Business:The Ultimate Guide For Startup Businessesby Bloomy Tokan is an excellent resource for new business startups. Tokan provides important advice for navigating some of the most difficult challenges new businesses face.

Tokan explains that it can take from 3-18 months to secure funding from a pool of at least five or more completed applications. The classic problems new start-ups have include the fact that funders don’t understand the business or the applicant doesn’t understand the funder’s requirements to make a successful pitch.

There are other important dimensions to securing money, such as a complete business plan, marketing plan, operations plan, financial plan, perseverance, a good management team, some sales or demonstrated ability to sell the product, and putting up some of your own money initially.

Tokan explains that funding sources want winners. They seek a good sales pitch that makes sense and is internally consistent. An example of a compelling product is the iPod.

In addition, funding sources want clear objectives that can be measured objectively, and achieved based upon understandable measurement rubrics. Tokan advises new startups to create a written agreement. Good samples may be found in places like lendingclub.com.

Tokan provides specific grant sources for startups like the SBA and others. For instance, there is a recommended website that serves as a grant source in the UK.

How to Raise Money for Your Business by Tokan is an important resource for acquiring funds from a variety of sources. The guide provides important planning documents, milestones, and objective measurement criteria to attract funding for startup purposes. The presentation is complete and easy to understand.

A strength of the presentation is that the author addresses the all-important sales pitch and documentation required to obtain the financial backing based upon simple rule structures.

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About Dr Joseph S Maresca

I've taught approx. 34 sections of collegiate courses including computer applications, college algebra, collegiate statistics, law, accounting, finance and economics. The experience includes service as a Board Director on the CPA Journal and Editor of the CPA Candidates Inc. Newsletter. In college, I worked as a statistics lab assistant. Manhattan College awarded a BS in an allied area of operations research. The program included courses in calculus, ordinary differential equations, probability, statistical inference, linear algebra , the more advanced operations research, price analysis and econometrics. Membership in the Delta Mu Delta National Honor Society was granted together with the degree. My experience includes both private account and industry. In addition, I've worked extensively in the Examinations Division of the AICPA from time to time. Recently, I passed the Engineering in Training Exam which consisted of 9 hours of examination in chemistry, physics, calculus, differential equations, linear algebra, probability/ statistics, fluids, electronics, materials science/structure of matter, mechanics, statics, thermodynamics, computer science, dynamics and a host of minor subject areas like engineering economics. A very small percentage of engineers actually take and pass the EIT exam. The number has hovered at circa 5%. Several decades ago, I passed the CPA examination and obtained another license in Computer Information Systems Auditing. A CISA must have knowledge in the areas of data center review, systems applications, the operating system of the computer, disaster recovery, contingency planning, developmental systems, the standards which govern facility reviews and a host of other areas. An MBA in Accounting with an Advanced Professional Certificate in Computer Applications/ Information Systems , an Advanced Professional Certificate in Finance and an Advanced Professional Certificate in Organizational Design were earned at New York University-Graduate School of Business (Stern ). In December of 2005, an earned PhD in Accounting was granted by the Ross College. The program entrance requires a previous Masters Degree for admittance together with a host of other criteria. The REGISTRAR of Ross College contact is: Tel . US 202-318-4454 FAX [records for Dr. Joseph S. Maresca Box 646 Bronxville NY 10708-3602] The clinical experience included the teaching of approximately 34 sections of college accounting, economics, statistics, college algebra, law, thesis project coursework and the professional grading of approx. 50,000 CPA examination essays with the American Institute of Certified Public Accountants. Additionally, membership is held in the Sigma Beta Delta International Honor Society chartered in 1994. Significant writings include over 10 copyrights in the name of the author (Joseph S. Maresca) and a patent in the earthquake sciences.