“Successful people ask better questions, and as a result, they get better answers.”
~ Tony Robbins
If you’re looking for funding and/or to successfully grow your business, a little known secret is to find and leverage Advisors.
Advisors are successful people (retired executives, business owners, etc.) that you respect and that agree to help your company. Advisors generally will not cost you any money (you don’t pay them), although I do recommend giving them stock options to incentivize them to contribute as much as possible.
Getting Advisors is not a requirement for raising money, but they have multiple benefits as follows:
- Practice: if you can’t successfully pitch an advisor to invest time in your business, then you’re not going to successfully pitch anyone to invest money in your business.
- Connections to capital: as successful individuals, advisors often have the ability to invest directly in your company; and/or they tend to have large, high quality networks of individuals they can introduce you to.
- Credibility: having quality advisors gives your company instant credibility in the eyes of lenders and investors.
- Operational success: Having Advisors with whom you can discuss key business matters as you grow your venture will help ensure you make the right decisions, particularly if they have encountered and dealt with the same challenges already in their careers.
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:
Yes, you can raise the money you need to start or grow your company.
But you need to raise it in a certain way.
Today’s Question: What product was the first to use animated characters in its television commercials?
Previous Question: What measure of a traded corporation is calculated by multiplying its share price with the number of outstanding shares?
Answer: Market capitalization
Market capitalization represents the public opinion of a company’s net worth and is a determining factor in some forms of stock valuation.
Private companies have market capitalizations too. When raising funding, you should know your financial metrics and terms, particularly things like your market capitalization, EBITDA and operating margins.
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