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Let me leak a secret about fortifying your business.
Ideas are everywhere. Don’t be too addicted to your ideas. Everywhere you turn, there is actually a fantastic idea. Therefore, ideas (by themselves) are useless until they are mined and implemented.
When you have an idea, don’t be in a hurry to look for a sponsor or investor. The first thing to do is spend a personal sum to test the idea. You want to verify that the idea works within the geographical, economical, and social axis where you live or operate. This is called EQUITY. You must demonstrate that you are willing to risk your own money into an idea before you ask anyone to spend on that idea. Now this means 2 things:
A. Be addicted to saving money because some day that savings will become BUSINESS DEVELOPMENT INVESTMENT FROM YOU.
B. People don’t spend money on you. Nobody likes you enough to just dash you money in the name of investing. People actually spend on ideas. A good idea attracts money.
When you have spent money in your idea, you will learn the following:
A. It can work as-is.
B. It can work with a little modification and tweaking.
C. It isn’t feasible (maybe an idea too early, too late, too daft, too complex, etc.)
When you have verified the idea, then you can tell someone to give you money to scale the idea and make it better and/or bigger.
I am a full supporter of getting investors for ideas. 💯
Now, when people start giving you money, I can tell you for free that, YOU WILL ALWAYS RAISE MORE MONEY THAN YOUR IDEA NEEDS. Mark this down!!! So when the investments start pouring in, DO NOT BE STUPID. Do not:
A. Change to a bigger car.
B. Change to a bigger house.
C. Change to a bigger city.
D. Marry a new wife (men 😜)
Instead, do these:
A. Invest at least 50-60% in landed assets (Real estate, money markets, stocks especially foreign stocks, cryptocurrency, NFT, etc.)
B. Use the balance (40-50%) as SEED CAPITAL.
C. Multiply the funds by investing in marketing and production systems.
D. The invested funds in (A) is almost like capital tied down for “investor funds” to be secure while the balance in (C) is the “hustle funds” to generate investor interests.
This post is incomplete but I will continue it in 2022 during February Disruptive Marketing Strategy Clinic (February 26-27, 2022). RSVP: 0807 361 0884.
In the past 10 years, I have received investor’s funds 4 times. I have messed them up 2 times. I have performed well 2 times. I know what I am saying. No go do pass yourself. Okay o.
How are you sha? 😁
m a k t u b!!!
The Octopus.