Tag Archives: Garrett Johnson

RAISE ENOUGH MONEY BEFORE OPENING FOR BUSINESS

Redding opened up Amy Ruth’s in 1998 with a $73,000 investment and it went on to become a $3 million company. While that achievement is to be lauded, under further inspection it should also to be avoided because Redding launched his business undercapitalized, a trend that he believes is all too common for many African American-owned businesses. “As Black people we always end up opening businesses underfunded,” he notes. “Due to that we rob Peter to pay Paul and don’t pay taxes or purveyors or utilities. Redding knew that opening his latest restaurant would mean securing enough funding—$2 million to be exact. The only way he was able to achieve that round of fundraising was by revising his business plan, something that he recommends for every entrepreneur looking to start over. “You have to put your new business together with a solid business plan so that you can get proper funding.”

3 Tips for Raising Venture Capital Funding

With SendHub's recent $2 million seed funding score making headlines, the company's co-founder Garrett Johnson provides three tips for securing venture capital support

Garrett Johnson, co-founder of SendHub, discusses how he raised $2 million from venture capital firms,…

By Terrance Gaines

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