There is no easy way to realize your business concepts. You can scribble it on paper and shape up everything that is inside your creative entrepreneurial mind. But acting the whole thing is another thing. You will need people to help you out because no one can ever do this alone.
You need people to back you up and you also need a lot of determination. The right startup investors has got to be there somewhere around the corner. They can be your family and friends, people you know through networks, friends of your friends, friends of your family, or a total stranger you happen to talk to while on a business seminar.
The main issue here is trust. You need people you can trust your ideas and concepts with. Hence, family and friends could be the perfect angel investors that you can truly trust. Aside from the fact that they are easy to approach, they are also reliable when it comes to finances.
There are, however, some loopholes in choosing your friends and family. It could affect your personal relationship and loyalty with one another. Unless you will make a valid and clear agreement that you will not involve personal feelings if all else fails, you could lose both the business and your bond. Money can be blamed for situations of conflicts so beware.
Experts say that out of ten business startups, only one usually succeeds. That estimation has already been proven and you have to keep that in mind. Also make sure that they are aware of this fact and come to an agreement.
Now that you know all this, you may want to withdraw from the plan of making the people that matter to you as your investors. There is another way, but it is rough and tough. You can get an established businessman and have him listen to your proposal.
It is not easy to communicate with this individual. That is why you need to have all the necessary resources to make him understand fully what you are trying to propose to him. Show him your purpose and make sure that you enumerate the benefits he will get from this. Know that he will always be looking after his part in the bargain.
If in any case he does not want to invest on it, there is a possibility that he will refer you to some individuals he knows that might like the idea and invest on it. Try as many times as possible until there is finally someone who trusts you to be his partner. When you finally got one, the pressure of proving to him that he made the right choice and decision is on you.
In the first place, you ventured into this like a soldier who is uncertain and unfamiliar with the battle place. However, rely on your business knowledge as this will be your armor as you go into the war of uncertainties. That is the nature of business so make sure you are ready either for the bigger challenges that the partnership will stumble into or the big fall that you may experience.
You need people to back you up and you also need a lot of determination. The right startup investors has got to be there somewhere around the corner. They can be your family and friends, people you know through networks, friends of your friends, friends of your family, or a total stranger you happen to talk to while on a business seminar.
The main issue here is trust. You need people you can trust your ideas and concepts with. Hence, family and friends could be the perfect angel investors that you can truly trust. Aside from the fact that they are easy to approach, they are also reliable when it comes to finances.
There are, however, some loopholes in choosing your friends and family. It could affect your personal relationship and loyalty with one another. Unless you will make a valid and clear agreement that you will not involve personal feelings if all else fails, you could lose both the business and your bond. Money can be blamed for situations of conflicts so beware.
Experts say that out of ten business startups, only one usually succeeds. That estimation has already been proven and you have to keep that in mind. Also make sure that they are aware of this fact and come to an agreement.
Now that you know all this, you may want to withdraw from the plan of making the people that matter to you as your investors. There is another way, but it is rough and tough. You can get an established businessman and have him listen to your proposal.
It is not easy to communicate with this individual. That is why you need to have all the necessary resources to make him understand fully what you are trying to propose to him. Show him your purpose and make sure that you enumerate the benefits he will get from this. Know that he will always be looking after his part in the bargain.
If in any case he does not want to invest on it, there is a possibility that he will refer you to some individuals he knows that might like the idea and invest on it. Try as many times as possible until there is finally someone who trusts you to be his partner. When you finally got one, the pressure of proving to him that he made the right choice and decision is on you.
In the first place, you ventured into this like a soldier who is uncertain and unfamiliar with the battle place. However, rely on your business knowledge as this will be your armor as you go into the war of uncertainties. That is the nature of business so make sure you are ready either for the bigger challenges that the partnership will stumble into or the big fall that you may experience.
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