Original article.
The first question of interest to people when they are planning to start-up - where to get the money?.
This is certainly a valid question, but even all the money in the world will not make your business successful if you hate what you do and not willing to work. I propose to consider some other more important matters than finance.
The best way to ensure the success of start-up - is to do what you love, as opposed to what will bring you considerable profit. Of course the money, and many other issues - are very important, so it is necessary to comply with the order of priorities. Here are the right questions in the right order, you should ask yourself before you start looking for investment.
Do you understand what it means to be an entrepreneur? . The role of the founder of a startup - it's not a robot, but a way of life. It's the same difference as to be married or remain celibate. In fact, it 's more like a bachelor lifestyle, because the founders are usually neither of whom are independent, no one takes the decisions for them, they are no one to blame, have no one to follow, they rely on their vision.
Are you passionate about your idea and your business prospects?. Business will get you no joy, if you can not build a team to monitor the business climate or to perform their daily duties. Dumb like to work in the service sector, while others prefer to work in industry or construction.
Which business model is closest to you? . In every case has its special difficulties, and the payback period. Ask around about.
Do you have experience and training in this business area?. Beware of the desire to start a business in an unfamiliar area, simply because it all seems easy and it promises big profits. In no real benefits of business secrets, of any area. You should not believe everything you read on the Internet. Expirentia est optima magistra.
Are you confident and self-disciplined?. Starting a new business - it's hard work, which requires victims. You will act independently, to take all decisions and take full responsibility. Are you hard to move forward to reach your new venture success?.
Do you have a viable plan?. If you have not painted a business plan, you probably do not have any idea how much money you really need, or even whether there is any chance for your ideas. I am convinced that the process of writing a business plan is more valuable than the plan itself, because it forces you to think through every detail, to check whether all converge to each other and correspond to each item you.
How much money do you really need?. Based on your plan, calculate the most minimal bag needed to earn your plan and then reload the reserve another 50 %. Treat non-cash alternatives, such as shares rather than cash deals or barter services. Raising the money - it is very difficult, so most employers prefer butstrepping.
If you have completed all the items, then you can in good conscience ask where and how you can find an investment that you need ( if ever needed). Professionals will tell you that the order is: first friends and family, then the angels, and only after that venture capital. Each type of investment requires a lot of time and effort to attract.
The best way to get any of these types of investments are Networking, building your network of contacts (as opposed to tons of spam and cold calls to investors. Start with the local chamber of commerce, industry associations, or workshops for investors. Just part does not work - use your entrepreneurial spirit to build relationships that will lead you to a new level.
Translated for the blog. dennydov. blogspot. com.
Eugenia Dudnik.
Permission is granted to copy this material, indicating a hyperlink to the source:. dennydov. blogspot. com.
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