Normally, the people often ask, how do is start a business or they go to one of their rich friends to borrow money and they get pissed off, if the friend does not help them.
But here’s a thing just because someone is successful doesn’t mean they are obligated to help you. But in this present time, it’s all about adding value before asking for something in return, you have to ask yourself what value can you create to give to the society, if you do that only then will money start flowing to you, most millionaires didn’t just get rich like that they got rich by doing something they were passionate about, then the universe rewarded them with success.
The trick you need to know is that you don’t approach a successful person to give you money, you approach a successful person adding value giving them something first, before you can now ask for something in return.
And to explain this point I will like to use the example, let’s say you’re betting on a horse racing, and you’ve never had any experience on horse racing, so it is applied to this case let’s say you as a entrepreneur you are not good at a certain business, because you have never done it before and then you ask someone to bet on you, that would not be possible because betting on you, there is a higher chance of losing.
That’s how it is, but have no fear guys, I will give you some ways and strategies in which you can raise money,
The first people you can go to when you need money to start your business are the financial institution, these people are the banks, they are the credit union, and they are typically the institution where you borrow money.
The second people you can borrow money from when you want to start a business are your friends and family, these are the people closest to and they can give you money with ease, this people give you money not based on your track record not based on your skills but they loan you money based on your relationship with them.
But the best proven way to find money from your business, is to get the money from your customers, yes, as crazy as this may sound it is really the right thing to do, now I know some of you would be asking, how do I get the money from my customers?
You do that by going out to sell something, make some sales, it’s the easier way to get it, because you can’t just meet a successful person and ask him or her to give you money you have meet him show him or her that you’re an expert at what you do and you have created enough skills that can add value to his or her life, let’s say you’re a digital marketer, you want to help people for their graphic design, you don’t need to borrow a ton of money, print business cards, get a shop, you don’t need all those things, go sell something, you have to get your first client, that’s how you get the money. It is only after you have gotten the money from your customers and have reached a substantial level, only then will you now go to the financial institution, and your friends to get money for expansion, not to start the business. That way, you would have already established a proven record and then they will be able to listen to you with ease. Thanks guys.