3/23/2021 Tip: Develop Relationships Early | Growthink

3/23/2021 Tip: Develop Relationships Early

Today’s Quote

“You cannot run away from weakness; you must some time fight it out or perish; and if that be so, why not now, and where you stand?”
~ Robert Louis Stevenson

 

Today’s Tip

If you need to raise funding, develop relationships as soon as possible.

This is because to attract funding, the funding sources must like you and your management team. Because investors and lenders bet on people, even a great product or service won’t make it unless it’s backed by a quality management team.

So, start building relationships with funding sources now. For example, even if your company may not be ready for venture capital for another 12 months, start meeting with venture capitalists now. These relationships will not only make you much more likely to raise the funding later, but these contacts may be able to introduce you to other funding sources. And the longer they know you, the more likely they are to like and trust you.

 

Today’s Resource

The Funding Pyramid (TM)

I discovered and trademarked The Funding Pyramid (TM) formula a few years ago.

This is how it works  <–

It’s the precise formula I discovered and have used to help entrepreneurs and business owners like you raise billions of dollars. 

I lay out precisely how The Funding Pyramid (TM) works, and how to use it in your business today.

 

Trivia

Today’s Question: What popular brand of antiseptic connected with personal hygiene is named after the British surgeon who pioneered the idea of sterile surgery?

Previous Question: What is the widely held reason for why 69% of motor vehicle accidents occur within ten miles of the driver’s home?

Answer: The widely held reason is that most drivers get into a “comfort zone” as they go through their regular driving routines, letting down their guard and letting in distractions.

However, it is also true that the vast majority of one’s driving is done within 10 miles of one’s home. Which means you spend the majority of your driving time near your home, and are thus more likely to be near your home if you happen to get in an accident. The point here is to be careful to scrutinize market research and widely held beliefs which might not always be accurate.
 

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