When a business consultant found no angel investor interested in funding her dream venture – $30,000 to start her small practice – she came up with a brilliant idea.

She promised her first ten clients a full refund on their fee at a follow-up consultation (six months later) provided they paid her upfront for the first visit. Temporarily at least, her problem was solved and she ended up signing quite a few clients.

The thing is that if you are new in a business and without any track record, you may find it difficult raising capital from lenders or investors. The chances of getting VC funding for such a venture are as bright as getting struck by a bolt of lightening!…