With assistance from other members of the MBA program, Charles Florance hit upon a unique way of raising start-up money for the business online. "Crowdfunding” is an increasingly popular way of raising money to start small businesses. Everyone from close friends to complete strangers put money forward, even small amounts, to help grow a new business.
"At the very beginning you think, oh I'm just getting my name out there, I'm trying to raise some funds,’” Florance described. “But what ends up happening is you actually find that people are either interested in your product or they're not."