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When Earl Mollerud went looking for investors so he could expandhis chain of children's hair salons, he didn't like thereception he got. Says the founder of Minneapolis-based Kids'Hair, "I fell flat on my face."
Mollerud presented the problem to a group of business owners,fellow members of a club who meet monthly to discuss eachother's problems and prospects. Although none of the advisorswere from the hair salon industry, with their combined years ofbusiness experience, they were able to map out a successful routeto private placement.
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