3/24/2021 Tip: Keep It Updated | Growthink

3/24/2021 Tip: Keep It Updated

Today’s Quote

“I have not failed. I’ve just found 10,000 ways that won’t work.”
~ Thomas Edison

 

Today’s Tip

When raising capital, develop your business plan and keep it up-to-date.

Your business and your business plan are always changing. You need to start now by documenting your vision in the plan. The process of developing your plan will force you to think through your business. It will identify new opportunities. And it will give you ideas on how much you might be able to accomplish via bootstrapping and/or smaller funding amounts.

Keep adding to and updating your business plan so that when you meet an interested investor, you can quickly and easily get your plan to them with the latest info on your company.

 

Today’s Resource

Funding to Start & Grow Your Company

Do you need funding to start or grow your company?

If so, don’t go at it blindly.

Rather, you should use my proven funding strategy:

See how my funding strategy works <–

Yes, you can raise the money you need to start or grow your company.

But you need to raise it in a certain way.

Learn how here <–

 

Trivia

Today’s Question: The name of what popular sneaker brand introduced by U.S. Rubber in 1916 is a play on a synonym for children and the Latin root for foot?

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

Answer: Listerine (from Joseph Lister)

Listerine is one of the most popular mouthwashes sold in the United States. Importantly, Lister’s goal wasn’t to create Listerine. It was essentially a by-product, for which he found a significant commercial use. Consider by-products you develop in your business; they could be extremely valuable to others. 

For example, the Kingsford charcoal brand and company was created by Henry Ford (the charcoals were created from factory waste wood scrap.)
 

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