The top source of startup funding is Personal Savings, followed up by family and friends.

Our Funding Post and Youtube Video has been very popular, so I decided to followup on your interest with some additional research and information on small business funding.  After contacting an Angel Investment Firm, I was put in touch with the COO of Fundable, Elliot Schneier.

Crowdfunding generates over 3 Billion in funds every year and Fundable focuses on Business Crowdfunding

Fundable is a business crowdfunding platform where businesses are connected with investors of all sorts, ranging from individuals to large VC firms.   We got a couple of gems from Elliot, specifically around what makes a great startup.  Investors have a formula to figure out the likelihood of a company’s success, there are certain things a business must have.  So, whether looking for funding or not, if you want to be successful, then you’ll need a few key elements.

One is to target a specific and known problem that people have, not something you think needs fixing, but an issue there is social proof of pain.    Then, solve that problem in a very specific and scale-able way.

Elliot explains this much better in the interview below.

MP3 Podcast With Elliot Schneier, COO of Fundable.   Listen here.

Here is one of Fundable’s projects, a Craft Brewery in Texas.  They raised 124% of their funding goal.

Startup Funding Infographic