Am meeting with a client tomorrow to discuss various ways to fund his start up business. The basics of the business are solid and the ventures has good potential. There is one hurdle to overcome, there is no track record for this business or for the new business owner.
What would convince a stranger to invest any sum of money, however small? Let’s see if we can build a presentation that will convince you to consider the investment.
- Each of us has a history, a story to tell. Let’s go back as far as you can remember and make a list of your success stories. Include sports,scouts, education (high school and or college). List other courses or seminars you have attended. Make a list of successes in previous part time or full time jobs.
- Solicit others to write a letter about your accomplishments, your trustworthiness, your effort, and any other thing they care to write about. These authors can be friends, relatives, previous employers, teachers, etc. etc. etc.
- Now write a passionate narrative about your new business idea. What got you excited? How long have you been thinking about it? Why do you think that there is room in the marketplace for your new venture? What need/needs will it fill? How will it benefit the buyers/users of your products or services? What research have you done? Who is your target market?
- Now make a list of community activities that you participated in, include participation in your spiritual journey. Who have you helped that was in need? What did you do?
- Share your family history; parents, brothers and sisters, aunts and uncles, who are they and what have the accomplished?
The start of any good business plan has to have a solid foundation. That foundation answers a these two questions:
- What brought you to this point?
- Who are you.
Armed with the answer to the five questions listed above that are part of your history, a good facilitator can take you through the Focus Business Plan that you can now present to qualified investors. A good place to start you invesment solicitation is with the people that participated in your “story”. Ask them to refer others and watch your dreams come true.
If you want your life to have impact, focus it.
Have a great day!