Ever wonder how to start and build a business with other people’s money (opm)?
Most entrepreneurs or wantabe entrepreneurs know about or have read Rich Dad, Poor Dad by Robert Kiyosaki. One of the big ideas from the book is ‘The poor and the middle-class work for money. The rich have money work for them.”
Life is about choices. You can choose to continue working for others or you can choose to work for yourself.
And you have an amazing idea for a business and you know it’s going to take an investment of cash. What’s your option? Use your own cash or consider using other people’s money to start and build your business.
Many people are conditioned to grow up, go to school and get a good job, but it doesn’t have to be that way.
When you finally decide to start your own business It’s no surprise most people only look to their own savings or credit cards to start or grow their businesses.
A smart alternative is definitely to use other people’s money. It makes good business sense.
When looking to raise money, prospective investors look for a good return on their investment (roi).
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When making a proposal to an investor a well out presentation should include
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- What the project is about. What makes this project unique? The pros and cons.
- Who are the key players and what they bring to the table, what their experience is.
- How money will be made. How much money is being raised and the terms.
- Who will be leading the show? What’s the background?
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If you’re a solopreneur you may be wearing all the hats and that’s ok. It may be a little daunting at first, but don’t let that get you down. When raising capital be clear, short and concise. The only thing left to do when using other people’s money to start or grow your business is to just get started.
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Debi
Create A Business To Love
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