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8 Clever Ways To Raise Money For Your New Startup

Joel Brown

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Raising money for your new startup isn’t as difficult as you may think.
However getting the right source of funding is slightly more complex. Each source of capital has its own unique advantages and disadvantages.

Here are 8 of the most reliable sources when it comes to raising money for your startup.

 

8 Ways To Raise Capital For Your Startup

 

1 – Crowd funding

Crowd Funding To Raise Money For StartupWhile crowdfunding is still in its infancy as a means of raising money for your startup its popularity is rapidly increasing. Crowd funding takes it name from the fact that your project is funded by the public using their own personal funds. To start with, you propose the idea that you wish to see funded. People can then choose how much or how little they want to give you. Most crowdfunding sites currently use a reward base model where people who invest in a new business venture are given some form of reward such as the product that is going to be produced. However changes to US law will soon allow equity based crowdfunding.

Some of the best crowdfunding websites for small businesses include Kickstarter, Indiegogo, and Fundable.

 

2 – Angel Investing

Angel Investing For StartupsAfter entrepreneurs have made their fortune many of them look to invest their funds back into startup businesses. These are known as angel investors. Some of the worlds largest businesses including Google, Facebook, Skype and Twitter have received angel investing.

The benefits of receiving angel investment go beyond the purely financial. The advice and connections that a good angel investor can offer can be equally as valuable. Angel investors are willing to take on the risk of a brand new startup. There are a number of angel investing networks which connect entrepreneurs and investors. Some of the biggest networks include Golden Seeds, Tech Coast Angels and Investors Circle.

 

3 – Family and Friends

Family and Friends For Raising MoneyYour family and friends want to see you succeed and may even want a stake in your potential goldmine for themselves. However using family and friends as a source of raising money can be problematic. It can create a strain that can ruin personal relationships. It is also worth remembering that over 50% of small businesses fail in their first five years often because of factors completely outside of the control of the owners. Make sure that you are not borrowing money that they can’t afford to lose. Put any lending agreement in writing with the terms clearly laid out even if it is a “friendly” loan.

A number of successful businesses have started out with a loan from friends and family, so don’t shoot this idea down, just be mindful about the pitfalls and burdens that may come about in turbulent times. The risk is high but so is the reward when you are able to grow not only your own wealth but friends and families along the way.

 

4 – Credit Cards

Credit Cards For StartupsCredit cards should be viewed as a temporary measure between getting your business started and obtaining other financing such as a bank loan. Given the hefty 10 – 20% plus interest rates on many credit cards they are generally not a good source of loan term capital. That said credit cards have been used by many entrepreneurs when their was no other options available. In the mid 1990s the founders of Google initially funded the company using credit cards. While the founders maxed out their credit cards they used the funds wisely, purchasing second-hand computers instead of new ones and open source software instead of off the shelf.

 

5 – Bank Financing

Bank Financing For StartupsOne of the most common ways that people raise capital for their small business is through a bank loan. Your banker may request that you have your loan guaranteed by the Small Business Association before approval. The SBA is a government agency who will guarantee up to 80% of the value of the loan for applicants which meet their criteria. Alternatively you may be able to offer some other form of security such as your home to get your loan approved.

 

6 – Second Mortgage

Second Mortgage Raise Money For StartupSecond mortgages are also referred to as home equity lines of credit. These loans tap into the locked up equity you may have in your home. To calculate how much you may be able to borrow for a second mortgage take the value of your home and deduct the value of any outstanding mortgage. Be aware some lenders may only lend only up to 70 – 80% of the fair value of the home. One of the biggest advantages of using a second mortgage is that the interest rate tends to be lower than with others form of financing. This is because the bank knows it can always recover the value of the loan by foreclosing on your property if you are not able to meet your interest payments.

 

7 – Venture Capital

Venture Capital Raise Money For StartupVenture capitalists aim to invest in early stage businesses with high growth potential. Traditionally venture capitalists received equity in the business in exchange for funding it. However these days they typically demand a mixture of equity and debt financing.

The venture capital business is based on the idea of a few big wins making up for a lot of poor performers. In fact approximately 3 out of 4 businesses which receive venture capital fail. Because of this venture capitalists look for businesses which have a lot of growth potential. If the market for your business is more modest you may need to look elsewhere for funding.

 

8 – Business Partner

Business Partner Raise Money For StartupYou might not have the money to get your business started but maybe you know someone who does. Of the Inc top 500 businesses, 28% received seed funding from a co-founder.

When selecting a partner for your business you need to make sure that their own goals for the business are aligned with yours. As a business partner they will have control over the direction of the business. It is also a good idea to have a buy out agreement in place in case of a breakdown in the business relationship. This should stipulate that the other partner must agree to a proposed buyout within a set time frame or buyout the other partner themselves.

Finally it is worthwhile looking at the lesson of Facebook. CEO and founder Mark Zuckerberg had seen how earlier dot com companies had been willing to give away almost all of their equity to venture capitalists in order to get funded. He wasn’t going to make the same mistake and never gave up equity lightly. His 28.1% stake is now worth $14.9 billion. Be careful to negotiate your own financing terms with equal tenacity even when all you have is a vision for the future. The difference may one day be worth millions.

 

 

6 Guy Kawasaki Lessons About Pitching Your Startup To An Investor

Guy Kawasaki Raise Money For StartupGuy Kawasaki is a Silicon Valley venture capitalist, bestselling author, and Apple Fellow. He was one of the Apple employees originally responsible for marketing the Macintosh in 1984.

 

 

 

You say: “I have lots of great ideas, but I have trouble figuring out which one to try. Let me tell you about a couple.” Investor thinks: “I want to know which idea you’re going to kill yourself trying to make successful, not which ideas have crossed your idle mind.”” – Guy Kawasaki

Here’s what you should say [to investor]: “This is what my company does…” It’s that simple. What you’re trying to do is get potential investors to fantasize about how your product or service will make a boatload of money. They can’t fantasize if they don’t know what you do.” – Guy Kawasaki

You say: “I love to think of new ways to solve problems.” Investor thinks: “Is this a high-school science fair?””- Guy Kawasaki

You say: “My goal is to build a world-class company.” Investor thinks: “How about you ship and sell the first copy before we talk about world-class anything?”” – Guy Kawasaki

You say: “I don’t know much about your firm, but I thought I’d contact you anyway.” Investor thinks: “You’re a lazy idiot–why are you wasting my time?”” – Guy Kawasaki

You say: “The last time I contacted you, I…” Investor thinks: “I’m going to fire my secretary for putting this clown on my calendar again.”” – Guy Kawasaki

 

Article By: Jonathan Savage & Joel Brown | Addicted2Success.com

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 100 million lives in the last 6 and a half years.

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13 Comments

13 Comments

  1. Stephen

    Apr 13, 2015 at 4:24 pm

    This is quite educative tuition

  2. Damien

    Feb 18, 2015 at 6:55 am

    Spot on with this write-up, I truly believe this amazing site needs much more attention. I’ll probably be returning to read more, thanks for the information!

  3. camper van Rentals

    Nov 26, 2014 at 7:47 am

    Wayy cool! Somme very valid points! I appreciate you writing this post and also the rest of the website iis really good.

  4. Nick del Pozo

    Jul 30, 2014 at 2:08 am

    Nice list!

    One additional point about crowd funding you didn’t mention is that it has built in social spread. When somebody backs you on a Kickstarter, they’re also more likely to go talk about your product online via Twitter or Facebook.

    So long as you’re careful to keep your backers happy, they can become a grass-roots style advertising group for your product!

  5. Bodo

    May 9, 2014 at 10:06 am

    I want to raise funds to start a new community based publishing/media/newspaper in North East India, how can I succeed. I have already opened the website. My motto behind is to spread positive voice against the prevailing tension of North East India, the much unexplored region, can u help.

  6. Pierre Naamo

    Feb 19, 2014 at 12:07 am

    Believe me there are many opportunities to make you a millionaire if you have $150,000.00
    to invest in a new venture that is unique and nothing like it on the market,

  7. pius Tuku

    May 2, 2013 at 1:30 pm

    This information is very inspiring.

    • Mark Ioryisa

      Jun 10, 2013 at 5:20 pm

      I am motivated

  8. kulls

    Mar 11, 2013 at 1:09 pm

    Crowdfunding is the new mantra today to get funding apart from family and friends. A crowd can fund your new venture or start up and be joint partners. Venture capital is also a good idea.
    Thank you
    Kulls

  9. Edwin

    Mar 10, 2013 at 8:17 am

    Its great………..thanks

  10. Ankit

    Feb 25, 2013 at 10:54 am

    Great ideas… Thanks a lot…

  11. Josh Mitchell

    Feb 23, 2013 at 6:13 am

    A great list, all of which can be great sources of start up funding! I know of many entrepreneurs that received seed funding from their ol’ friends “Visa” and “Amex”

    P.S Where did you get that photo of Guy?

  12. walter

    Feb 22, 2013 at 10:36 am

    great ideas for start-ups…keep this up!

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Startups

5 Steps to Regaining Stability After Your Million Dollar Business Idea Fails

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You probably must have heard that seven out of ten businesses fail within the first ten years of their conception. While this revelation might seem alarming, the fact remains that business failure is like a cake from which every entrepreneur must have, at least, a bite.

The common assumption of most entrepreneurs is that businesses with no solid ideas are the ones that fail. So instead of taking their foot off the ground, they spend years trying to come up with the “million-dollar” idea they believe won’t fail.

No doubt, bad business ideas lead to failure often. But the truth is, business failure isn’t a tale that only organizations with bad ideas tell. Because, in most cases, good ideas fail too. In fact, several good ideas executed by some of the world’s most successful business leaders in the early stages of their careers, failed.

Bill Gates, co-founder of Microsoft Corporation, once started Traf-O-Data alongside Paul Allena data-analyzing company that failed. Steve Jobs, while he was CEO at Apple, launched Apple Lisa, Apple III and other great products that failed. Henry Ford, the founder of Ford Motor Company, earlier launched two automotive companies that failed.

Although these entrepreneurs encountered failure, they never allowed it prevent them from working towards success.

In case your good business idea has failed and you’re about quitting, below are five actionable steps you can take to regain stability:

1. Accept the truth

Many entrepreneurs are suppressed by their failures because they keep running from the truth. When a business idea fails, it’s pointless shading the truth or shying away from the reality. A failed business idea is a failed business idea, period! Microsoft, for example, came into existence as a result of Gates’ ability to accept the truththat Traf-O-Data had failed.

Steve Jobs, co-founder of Apple, once said, “If I try my best and fail, well I have tried my best.” Once business owners learn to accept the bitter truth that their excellent business idea has failed and cease investing their time, money, and energy trying to breathe life into it, getting back on track will become less difficult.

“The world won’t care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself.” – Bill Gates

2. Take responsibility

One of the many wrong steps business owners and executives take after their great business idea fails is playing the blame game—that is, giving excuses for their failure. Whether you head an Inc. 500 company or a mom-and-pop store, you have to take responsibility when your good business idea fails.

Taking responsibility, in the case of a large organization, doesn’t mean avoiding to discipline anyone whose incompetence directly led to the failure. Rather, it means spending less time on passing blames and giving excuses, and focusing more on the way forward. Instead of shifting blame when a good business idea fails, take responsibility for the failure and ensure you prevent similar failures from reoccurring.

3. Ask “why?”

For every failure a business experiences, there’s always a cause. Most times, good ideas fail due to poor execution, improper planning, wrong managerial decisions and the absence of professional hands. Knowing every failure has a cause, you need to ask yourself, “Why did ‘X’ business idea fail?”

Bill Gates, one of the world’s most successful business leaders, once said, “It’s fine to celebrate success, but it is more important to heed the lessons of failure.” When you know the cause of the failure, you will be able to extract a lesson or two from the unpleasant event. These lessons, in the future, can serve as a mapguiding you on the pathway to success when you embark on a similar quest.

4. Avoid negativity

In entrepreneurship, failure is one ingredient that makes the journey worthwhile. Therefore when a business idea fails, entrepreneurs are left with only two options: to come up with a new idea or modify the existing one, and get going. Although this is the norm, many entrepreneurs never make it back up because of one thing: Negativity.

Negativity (or pessimism) alone can ravage any entrepreneur’s business journey. Embracing self-doubt, spending time with toxic individuals, and submitting one’s self to chance are loopholes through which negativity steps in to ruin an entrepreneur’s career. To gain stability after your good business idea fails, you must abstain from pessimistic thinking and build relationships with positive, like-minded individuals.

“Defeat is a state of mind; no one is ever defeated until defeat has been accepted as a reality.” – Bruce Lee

5. Take the punches and keep moving

The ability to get up and keep moving after experiencing multiple failures is what differentiates real entrepreneurs from “aspiring” entrepreneurs. Or borrowing Steve Jobs’ words, “I am convinced that about half of what separates successful entrepreneurs from the unsuccessful ones is pure perseverance.”

You are an entrepreneur. One with a goal, vision, and mission. You didn’t start out as an entrepreneur believing the journey would be filled with rainbows and unicorns, did you? When your best business idea fails, remember that you are an entrepreneur. And in entrepreneurship, throwing in the towel sooner than necessaryeven after experiencing failureis against the rules of the game.

How do you recover from a set back?  Comment below!

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Startups

‘Computer Says No’ Type People Are The Problem.

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Saying no without listening is the problem.

It’s the cause of why we fail to innovate. It’s a form of arrogance that focuses all of our energy on our own selfish thoughts. This never-ending pursuit of one’s self-importance is the cause of everything, as a human race, we do not want.

 

Ciggies, Panadol and Coke Zero enter the room.

Last week, I had a profitable business idea squashed by one of those computer says no types that this article is based on.

She entered the room.
Before I opened my mouth, she looked like she was pissed off and acted superior.

She then placed her half-smoked packet of ciggies, her full bottle of Coke Zero (who’s fooled by this so-called ‘healthy option’) and a fresh packet of Panadol on the table. If that’s not a cocktail of problems right, there then I don’t know what is – back to the story.

I explained the business proposition, and before I finished, she said no.

“That’s not how we do things.”
“Let’s create a project.”
“Let’s write a strategy.”
“We don’t have the resources.”

When is it ever the right time? When will we ever have the right strategy? From what I’ve seen, a project equals taking our time and wasting our competitive advantage. Success is about moving quickly. Success is about listening. Success is about trying new things and not following the old way.

 

It’s the lack of emotion that is the problem.

This story above was disappointing for the fact that there was no emotion. It wasn’t two people having a conversation; it was one person being unemotional like a computer and spitting out a generic answer, while the other person just wanted to be heard.

 

No one has all the answers.

The computer says no mindset suggests that there is a hierarchy. It suggests that some people should be worshipped while others should bow down. This old model of the business world died a long time ago.

“We’re all global citizens that are equal and deserve to be heard”

The very answers these computer says no people think they have are what needs to change. Their answers are built on old models and need an upgrade. There is no one answer. The solution to different problems is never the same and the solutions are forever changing. The market is forever changing. People are forever changing. Nothing is static. Everything is in flux.

 

They don’t listen; they just say no.

Listening is where everything begins. You’ll never be successful unless you learn to listen. Listening is a skill and it’s forgotten way too often. Less is more. Understanding the problem and being brilliant is in the listening.

“Most of the answers you seek are hidden in the dialogue you’re currently ignoring”

 

Next time the computer says no, tell the computer you’re only accepting yes.

Let’s not make this a whinge session. What can we do about these computer says no people? Tell them that you’re only accepting yes. Be relentless. Challenge them and make them feel uncomfortable. Don’t allow yourself to be ignored. Do all of this with respect.

Part of what causes these no responses is laziness. It’s easier to say no than it is to exuberate energy and try to say yes. Now I’m not saying the Panadol, Coke Zero and ciggies were the entire cause (or am I?) but energy sure plays a part. When we’re living in a state of perpetual tiredness, we make dumb, computer says no, decisions.

You do have energy though. Your energy can break through the no’s and somehow find a way to get to a yes. Don’t accept defeat. Refuse to fail.

 

It’s easy to say no.

No requires very little thought. No says “Let’s just remain the same and not change anything.”

No is the easy way out for these computer says no people. Don’t let them win so easily.

See their weakness for saying yes and challenge it.

 

Make them work for their no.

Get them to give you clear and articulate reasons as to why the answer is no. Don’t let them get away with being lazy. Force factual evidence to be provided. Bring other people in to support your rationale for them to say yes. Go up the line. Speak to their boss if you have to.

Whatever you do, make them work for their no. Don’t allow them to get away with being lazy.

Don’t let the human race fail to progress because someone is not willing to use critical thinking and spend time tackling issues head-on.

 

No doesn’t mean no.

No means not right now.
No means I’m scared.
No means I don’t understand.
No means I might be threatened by you.

Try to find the true meaning of why you’re being told no. Computer says no type people are often fearful and scared of uncertainty. They look for proven ways rather than going into the shadows and searching for the unknown – also known as a new approach.

 

All is not lost.

These people can be changed. We can change their mindset. All of us need to be part of the solution to stamp out this epidemic. Pointing out the problem is not enough; we must empower each other to be part of the solution.

 

***Final Thought***

Computer says no people are tearing apart good ideas. They’re preventing innovation and they must be stopped. You have the power to force them to change and to listen. It begins and ends with each one of us not allowing this mediocrity in our communities, companies and social lives to continue on.

I declare Computer Say’s No Behaviour unacceptable.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Startups

Process And Red Tape Does Not Equal Progress.

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The corporate world has taught me the truth about process and red tape:

“Process creates people who follow it and believe they are superior for doing so. The reality is that the people who question the process are the true heroes”

Obviously, some process is needed, but the traditional way makes no sense.

Here’s how to rethink process:

 

Most processes lack critical thinking.

Ask yourself “Why are we following this process?”

Modern business requires you to think and know why you do what you do. Just because it’s the way it’s always been done, does not make it’s functional or practical. My grandpa’s horse and cart was functional back in the 1920’s and today it’s a useless pile of junk.

Critical thinking is needed with respect to “process.” Don’t become a process sook.

 

A lot of processes are kept beyond their expiry date.

The challenge is that the digital world is moving so fast. The moment you invent a process, the customer starts to do something different. That’s why a flexible process with minimal framework is ideal.

The process must move with the market and the people who use the process.

” Too much process turns people into critics that ridicule anyone who goes ‘outside of process’ “

Process can quickly become a means for people to become critical and insult each other. Going outside of the process to make business happen (which pays the bills) is not something that should be looked down upon. Instead, when this happens, we need to ask why the process wasn’t suitable.

 

Every process should regularly be reviewed.

Okay, so you have to have a process for something. It needs to be continually challenged.

Why do we have this process?
What do customers think of it?
Is it still timely?
Are there any steps in the process we can remove?

Out of date processes are destroying your business and if you are working for a company that has to follow them, you become de-motivated quickly.

There’s always another business you can work for that doesn’t have the same dumb process, so keeping people becomes hard as well thanks to too much process.

 

Rounding up things together like sheep.

You can’t round people and businesses up like a flock of sheep.

No two people are the same.
No two businesses are the same.

Unfortunately, very few business and people are the same. I rejoice that fact otherwise life would suck big time. We’d become even more bored and spend more time looking at a not so smartphone.

Embrace individuality. Let people think outside the process box. You’ll be amazed by the results. You might even build the next Facebook by doing so. When I see a black cat, with a white spot on it’s back, walk under a ladder, I shout out loud and do a dance!

Praise the heavens for the fact that the black cat is busting an ancient superstition. It’s time to sing Superstitious by Stevie wonder and get back in the groove.

 

Process kills innovation.

For the record, I hate the word innovation. It’s a buzz word that is frequently used and rarely practiced. Innovation can only thrive when we have a growth mindset. A growth mindset says that nobody is right and nobody is wrong. We’re all right in our own way and we are all continuously learning.

You can’t have an innovative culture or workplace if you suffocate it with the lethal gas that is too much process. Process turns dreamers (innovators) into deranged zombies that can’t wait to get home and get drunk.

 

Imagine if Uber followed the process.

That’s right: What if Uber did what every other taxi company did? We’d have the same broken system that doesn’t serve the customer or the driver. We’d never know what it was like to book a service, and then walk away without pulling our wallet out.

 

Frustration with “the process” is good.

You know why I love it when people get pissed off at too much process? Because it creates the seed of entrepreneurs. Entrepreneurs can’t take too much process and they end up proving people wrong by going and doing something better themselves.

If people didn’t get pissed off by out of date process, then we wouldn’t have a lot of the tech giants we have today. So again, don’t let the negativity take over. Take the negativity that is process and go and fix the problem, and charge money for it.

For those that do, I look forward to your email in the future that says thank you. Your welcome for these words I write which encourage you to stand up to BS process that makes no sense. Rebels move the world forward with their passion and they spit in the face of being suppressed by mediocrity.

We all have potential.
We can all do crazy, awesome stuff.
Don’t let too much process ruin the fun party!

 

In conclusion….

Process kills dreams.
Process kills companies.
Process kills ideas.
Process kills people and their potential.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Startups

How To Create Exponential Growth In Your Company Using This Simple Strategy

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company growth

When it comes to business, the more of it you have, the easier it is for the business owner to see where the business will be in five, ten, even fifteen years. Good business is what we want, but great business is what we dream of having.

If you’re an entrepreneur with a startup company, or maybe you’re an old pro cultivating business every day, there’s one thing we can all agree on. Having more business and creating more success within our business would be a great end result at the end of this year.

But what is the secret? It seems some people blast out of the entrepreneurial gate and people immediately gravitate to them, while others get lost in the crowd and struggle for six months before finally giving up their dream. While this is a sad depiction of what could be in store for your business, it doesn’t have to be like this.

Enter Rohan Sheth, a self-made success who used to work the counter at McDonald’s but now runs the CEO desk at Rohan Sheth Consulting, a multi-million dollar company helping entrepreneurs realize their dreams. If anyone knows the secret of creating exponential growth within their company, it’s Mr. Sheth, and he explains these well-known, but little practiced strategies that can explode your business.

1. Stay Consistent

First and foremost, Mr. Sheth described consistency as one of the key parts in building a successful business. He says, “Legitimate consistency with engagement for your business will show relevancy with your audience and allow them the opportunity to connect with you on a personal level.”

Being consistent within your target audience begins to build a sense of trust and expertise within your community and it’s important to understand what your target market wants and needs and sticking to a plan which delivers on these needs daily/weekly.

If your priority on social media marketing is your Instagram account, then make a plan and stick with it. Post consistent and valuable content which will plant a seed within your congregation making you stand out from the rest of your competitors. Remember, if you’re constantly selling to them, they’re not going to listen. It takes perfect timing to understand when to sell and when to continually deliver content that will meet their needs.

Eventually, your consistency will begin to be shared by your audience. When this happens, they will begin expecting something from you at certain times throughout the day or week. For instance, let’s say you have a YouTube channel where you always upload a helpful video every Friday. After you have consistently shown your viewers you can deliver on what you promise, they will pounce on your video’s every time you upload them.

“Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come.” – Dwayne Johnson

2. Build the Relationship

In the online world of business it can be very tempting and even easy to fall prey to data and statistics. Sometimes you may even find yourself pouring over data sheets and getting excited when a line goes up or down.

While statistics are a reliable way to grow your business, it’s not the way to build a personal relationship with that one person who needs your services. No one person is unimportant. Each individual within your reach has the power and the potential to reach hundreds, even thousands of their friends when you take the time to show them you really care. So how does this part happen?

This is when you get down and dirty and jump in the mix in your social channels and your email list. Reply to comments, answer questions, reach out and offer your services and advice when you see someone in need. These are all barrier breakers in the relationship building process and can mean the difference of someone walking away and becoming a high value brand ambassador for your business later.

I realize once your business grows on social media, you will begin to have more people than you’ll know what to do with. Nonetheless, it’s still important to reach out as much as possible and show the face behind the brand. When your audience does start to get large, think about creating opportunities with your channels or pages which can provide a sense of belonging to your target market.

For instance, give the mass of followers you have retained a name. This will make them feel like they are part of the bigger picture and will draw them in and help the relationship building process grow between them and your brand.

3. Solve a Problem For The Masses

In order to encourage exponential growth within your company you need to be making use of the technology around you.

Technology is enabling organizations to reach entirely new markets in massive and viral ways. As the world’s population approaches 7.5 billion, companies and organizations with exponential business models can help close the gap between our growing population and the resources they need.

Many companies start with one core offering to customers to serve one need—like Uber and personal transportation—then expand their services to meet other needs, like UberEATS or UberHEALTH.

Mr. Sheth says to learn about your audience through the data and statistics and develop a plan which can solve these bigger problems they are having. This is more like relationship building on steroids and works well when you have a larger audience. Because the audience is larger, when you do solve the problem, they feel the need to tell their friends about it and here comes the flood of new visitors to your business.

“There was never a night or a problem that could defeat sunrise or hope.” – Bernard Williams

In Conclusion

Every entrepreneur wants to realize their dream of owning a successful business which can touch the hearts, minds, and wallets of every person in their target market. But you cannot do that until you have a plan which will keep you and your team on track. Mr. Sheth’s strategies can help you develop these techniques and when you apply and tweak them according to your personal goals you will start to see your business growing exponentially within your niche.

Is it your goal to own a business or grow the business you’re currently in? If so, share with us in the comments how you are going about it so we can help everyone.

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10 Part Action Plan for Writing Your Very First Book

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writing a book

There’s no doubt that writing a book is an excellent way to bolster your credibility and establish yourself as an authority. A book can also help you spread ideas and is a mechanism for people to connect with you. It’s a self-contained product that you can monetize, but it can also be a vehicle to sell your products and services. In many ways, your book can be your ticket to new income streams and opportunities. (more…)

Brock Shinen has been guiding entrepreneurs, business owners, executives, and creators for more than 13 years as an attorney, trainer, and strategic advisor. His passion is to see people and businesses transform by implementing smart, adaptable thinking leading towards economic and personal success. He is also the author of the Amazon #1 Bestseller, “Crush The Stops: An Entrepreneur’s Guide to Finishing Things.” You can also visit his website.

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13 Comments

13 Comments

  1. Stephen

    Apr 13, 2015 at 4:24 pm

    This is quite educative tuition

  2. Damien

    Feb 18, 2015 at 6:55 am

    Spot on with this write-up, I truly believe this amazing site needs much more attention. I’ll probably be returning to read more, thanks for the information!

  3. camper van Rentals

    Nov 26, 2014 at 7:47 am

    Wayy cool! Somme very valid points! I appreciate you writing this post and also the rest of the website iis really good.

  4. Nick del Pozo

    Jul 30, 2014 at 2:08 am

    Nice list!

    One additional point about crowd funding you didn’t mention is that it has built in social spread. When somebody backs you on a Kickstarter, they’re also more likely to go talk about your product online via Twitter or Facebook.

    So long as you’re careful to keep your backers happy, they can become a grass-roots style advertising group for your product!

  5. Bodo

    May 9, 2014 at 10:06 am

    I want to raise funds to start a new community based publishing/media/newspaper in North East India, how can I succeed. I have already opened the website. My motto behind is to spread positive voice against the prevailing tension of North East India, the much unexplored region, can u help.

  6. Pierre Naamo

    Feb 19, 2014 at 12:07 am

    Believe me there are many opportunities to make you a millionaire if you have $150,000.00
    to invest in a new venture that is unique and nothing like it on the market,

  7. pius Tuku

    May 2, 2013 at 1:30 pm

    This information is very inspiring.

    • Mark Ioryisa

      Jun 10, 2013 at 5:20 pm

      I am motivated

  8. kulls

    Mar 11, 2013 at 1:09 pm

    Crowdfunding is the new mantra today to get funding apart from family and friends. A crowd can fund your new venture or start up and be joint partners. Venture capital is also a good idea.
    Thank you
    Kulls

  9. Edwin

    Mar 10, 2013 at 8:17 am

    Its great………..thanks

  10. Ankit

    Feb 25, 2013 at 10:54 am

    Great ideas… Thanks a lot…

  11. Josh Mitchell

    Feb 23, 2013 at 6:13 am

    A great list, all of which can be great sources of start up funding! I know of many entrepreneurs that received seed funding from their ol’ friends “Visa” and “Amex”

    P.S Where did you get that photo of Guy?

  12. walter

    Feb 22, 2013 at 10:36 am

    great ideas for start-ups…keep this up!

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Startups

5 Steps to Regaining Stability After Your Million Dollar Business Idea Fails

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business failure

You probably must have heard that seven out of ten businesses fail within the first ten years of their conception. While this revelation might seem alarming, the fact remains that business failure is like a cake from which every entrepreneur must have, at least, a bite.

The common assumption of most entrepreneurs is that businesses with no solid ideas are the ones that fail. So instead of taking their foot off the ground, they spend years trying to come up with the “million-dollar” idea they believe won’t fail.

No doubt, bad business ideas lead to failure often. But the truth is, business failure isn’t a tale that only organizations with bad ideas tell. Because, in most cases, good ideas fail too. In fact, several good ideas executed by some of the world’s most successful business leaders in the early stages of their careers, failed.

Bill Gates, co-founder of Microsoft Corporation, once started Traf-O-Data alongside Paul Allena data-analyzing company that failed. Steve Jobs, while he was CEO at Apple, launched Apple Lisa, Apple III and other great products that failed. Henry Ford, the founder of Ford Motor Company, earlier launched two automotive companies that failed.

Although these entrepreneurs encountered failure, they never allowed it prevent them from working towards success.

In case your good business idea has failed and you’re about quitting, below are five actionable steps you can take to regain stability:

1. Accept the truth

Many entrepreneurs are suppressed by their failures because they keep running from the truth. When a business idea fails, it’s pointless shading the truth or shying away from the reality. A failed business idea is a failed business idea, period! Microsoft, for example, came into existence as a result of Gates’ ability to accept the truththat Traf-O-Data had failed.

Steve Jobs, co-founder of Apple, once said, “If I try my best and fail, well I have tried my best.” Once business owners learn to accept the bitter truth that their excellent business idea has failed and cease investing their time, money, and energy trying to breathe life into it, getting back on track will become less difficult.

“The world won’t care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself.” – Bill Gates

2. Take responsibility

One of the many wrong steps business owners and executives take after their great business idea fails is playing the blame game—that is, giving excuses for their failure. Whether you head an Inc. 500 company or a mom-and-pop store, you have to take responsibility when your good business idea fails.

Taking responsibility, in the case of a large organization, doesn’t mean avoiding to discipline anyone whose incompetence directly led to the failure. Rather, it means spending less time on passing blames and giving excuses, and focusing more on the way forward. Instead of shifting blame when a good business idea fails, take responsibility for the failure and ensure you prevent similar failures from reoccurring.

3. Ask “why?”

For every failure a business experiences, there’s always a cause. Most times, good ideas fail due to poor execution, improper planning, wrong managerial decisions and the absence of professional hands. Knowing every failure has a cause, you need to ask yourself, “Why did ‘X’ business idea fail?”

Bill Gates, one of the world’s most successful business leaders, once said, “It’s fine to celebrate success, but it is more important to heed the lessons of failure.” When you know the cause of the failure, you will be able to extract a lesson or two from the unpleasant event. These lessons, in the future, can serve as a mapguiding you on the pathway to success when you embark on a similar quest.

4. Avoid negativity

In entrepreneurship, failure is one ingredient that makes the journey worthwhile. Therefore when a business idea fails, entrepreneurs are left with only two options: to come up with a new idea or modify the existing one, and get going. Although this is the norm, many entrepreneurs never make it back up because of one thing: Negativity.

Negativity (or pessimism) alone can ravage any entrepreneur’s business journey. Embracing self-doubt, spending time with toxic individuals, and submitting one’s self to chance are loopholes through which negativity steps in to ruin an entrepreneur’s career. To gain stability after your good business idea fails, you must abstain from pessimistic thinking and build relationships with positive, like-minded individuals.

“Defeat is a state of mind; no one is ever defeated until defeat has been accepted as a reality.” – Bruce Lee

5. Take the punches and keep moving

The ability to get up and keep moving after experiencing multiple failures is what differentiates real entrepreneurs from “aspiring” entrepreneurs. Or borrowing Steve Jobs’ words, “I am convinced that about half of what separates successful entrepreneurs from the unsuccessful ones is pure perseverance.”

You are an entrepreneur. One with a goal, vision, and mission. You didn’t start out as an entrepreneur believing the journey would be filled with rainbows and unicorns, did you? When your best business idea fails, remember that you are an entrepreneur. And in entrepreneurship, throwing in the towel sooner than necessaryeven after experiencing failureis against the rules of the game.

How do you recover from a set back?  Comment below!

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Startups

‘Computer Says No’ Type People Are The Problem.

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Saying no without listening is the problem.

It’s the cause of why we fail to innovate. It’s a form of arrogance that focuses all of our energy on our own selfish thoughts. This never-ending pursuit of one’s self-importance is the cause of everything, as a human race, we do not want.

 

Ciggies, Panadol and Coke Zero enter the room.

Last week, I had a profitable business idea squashed by one of those computer says no types that this article is based on.

She entered the room.
Before I opened my mouth, she looked like she was pissed off and acted superior.

She then placed her half-smoked packet of ciggies, her full bottle of Coke Zero (who’s fooled by this so-called ‘healthy option’) and a fresh packet of Panadol on the table. If that’s not a cocktail of problems right, there then I don’t know what is – back to the story.

I explained the business proposition, and before I finished, she said no.

“That’s not how we do things.”
“Let’s create a project.”
“Let’s write a strategy.”
“We don’t have the resources.”

When is it ever the right time? When will we ever have the right strategy? From what I’ve seen, a project equals taking our time and wasting our competitive advantage. Success is about moving quickly. Success is about listening. Success is about trying new things and not following the old way.

 

It’s the lack of emotion that is the problem.

This story above was disappointing for the fact that there was no emotion. It wasn’t two people having a conversation; it was one person being unemotional like a computer and spitting out a generic answer, while the other person just wanted to be heard.

 

No one has all the answers.

The computer says no mindset suggests that there is a hierarchy. It suggests that some people should be worshipped while others should bow down. This old model of the business world died a long time ago.

“We’re all global citizens that are equal and deserve to be heard”

The very answers these computer says no people think they have are what needs to change. Their answers are built on old models and need an upgrade. There is no one answer. The solution to different problems is never the same and the solutions are forever changing. The market is forever changing. People are forever changing. Nothing is static. Everything is in flux.

 

They don’t listen; they just say no.

Listening is where everything begins. You’ll never be successful unless you learn to listen. Listening is a skill and it’s forgotten way too often. Less is more. Understanding the problem and being brilliant is in the listening.

“Most of the answers you seek are hidden in the dialogue you’re currently ignoring”

 

Next time the computer says no, tell the computer you’re only accepting yes.

Let’s not make this a whinge session. What can we do about these computer says no people? Tell them that you’re only accepting yes. Be relentless. Challenge them and make them feel uncomfortable. Don’t allow yourself to be ignored. Do all of this with respect.

Part of what causes these no responses is laziness. It’s easier to say no than it is to exuberate energy and try to say yes. Now I’m not saying the Panadol, Coke Zero and ciggies were the entire cause (or am I?) but energy sure plays a part. When we’re living in a state of perpetual tiredness, we make dumb, computer says no, decisions.

You do have energy though. Your energy can break through the no’s and somehow find a way to get to a yes. Don’t accept defeat. Refuse to fail.

 

It’s easy to say no.

No requires very little thought. No says “Let’s just remain the same and not change anything.”

No is the easy way out for these computer says no people. Don’t let them win so easily.

See their weakness for saying yes and challenge it.

 

Make them work for their no.

Get them to give you clear and articulate reasons as to why the answer is no. Don’t let them get away with being lazy. Force factual evidence to be provided. Bring other people in to support your rationale for them to say yes. Go up the line. Speak to their boss if you have to.

Whatever you do, make them work for their no. Don’t allow them to get away with being lazy.

Don’t let the human race fail to progress because someone is not willing to use critical thinking and spend time tackling issues head-on.

 

No doesn’t mean no.

No means not right now.
No means I’m scared.
No means I don’t understand.
No means I might be threatened by you.

Try to find the true meaning of why you’re being told no. Computer says no type people are often fearful and scared of uncertainty. They look for proven ways rather than going into the shadows and searching for the unknown – also known as a new approach.

 

All is not lost.

These people can be changed. We can change their mindset. All of us need to be part of the solution to stamp out this epidemic. Pointing out the problem is not enough; we must empower each other to be part of the solution.

 

***Final Thought***

Computer says no people are tearing apart good ideas. They’re preventing innovation and they must be stopped. You have the power to force them to change and to listen. It begins and ends with each one of us not allowing this mediocrity in our communities, companies and social lives to continue on.

I declare Computer Say’s No Behaviour unacceptable.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Process And Red Tape Does Not Equal Progress.

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The corporate world has taught me the truth about process and red tape:

“Process creates people who follow it and believe they are superior for doing so. The reality is that the people who question the process are the true heroes”

Obviously, some process is needed, but the traditional way makes no sense.

Here’s how to rethink process:

 

Most processes lack critical thinking.

Ask yourself “Why are we following this process?”

Modern business requires you to think and know why you do what you do. Just because it’s the way it’s always been done, does not make it’s functional or practical. My grandpa’s horse and cart was functional back in the 1920’s and today it’s a useless pile of junk.

Critical thinking is needed with respect to “process.” Don’t become a process sook.

 

A lot of processes are kept beyond their expiry date.

The challenge is that the digital world is moving so fast. The moment you invent a process, the customer starts to do something different. That’s why a flexible process with minimal framework is ideal.

The process must move with the market and the people who use the process.

” Too much process turns people into critics that ridicule anyone who goes ‘outside of process’ “

Process can quickly become a means for people to become critical and insult each other. Going outside of the process to make business happen (which pays the bills) is not something that should be looked down upon. Instead, when this happens, we need to ask why the process wasn’t suitable.

 

Every process should regularly be reviewed.

Okay, so you have to have a process for something. It needs to be continually challenged.

Why do we have this process?
What do customers think of it?
Is it still timely?
Are there any steps in the process we can remove?

Out of date processes are destroying your business and if you are working for a company that has to follow them, you become de-motivated quickly.

There’s always another business you can work for that doesn’t have the same dumb process, so keeping people becomes hard as well thanks to too much process.

 

Rounding up things together like sheep.

You can’t round people and businesses up like a flock of sheep.

No two people are the same.
No two businesses are the same.

Unfortunately, very few business and people are the same. I rejoice that fact otherwise life would suck big time. We’d become even more bored and spend more time looking at a not so smartphone.

Embrace individuality. Let people think outside the process box. You’ll be amazed by the results. You might even build the next Facebook by doing so. When I see a black cat, with a white spot on it’s back, walk under a ladder, I shout out loud and do a dance!

Praise the heavens for the fact that the black cat is busting an ancient superstition. It’s time to sing Superstitious by Stevie wonder and get back in the groove.

 

Process kills innovation.

For the record, I hate the word innovation. It’s a buzz word that is frequently used and rarely practiced. Innovation can only thrive when we have a growth mindset. A growth mindset says that nobody is right and nobody is wrong. We’re all right in our own way and we are all continuously learning.

You can’t have an innovative culture or workplace if you suffocate it with the lethal gas that is too much process. Process turns dreamers (innovators) into deranged zombies that can’t wait to get home and get drunk.

 

Imagine if Uber followed the process.

That’s right: What if Uber did what every other taxi company did? We’d have the same broken system that doesn’t serve the customer or the driver. We’d never know what it was like to book a service, and then walk away without pulling our wallet out.

 

Frustration with “the process” is good.

You know why I love it when people get pissed off at too much process? Because it creates the seed of entrepreneurs. Entrepreneurs can’t take too much process and they end up proving people wrong by going and doing something better themselves.

If people didn’t get pissed off by out of date process, then we wouldn’t have a lot of the tech giants we have today. So again, don’t let the negativity take over. Take the negativity that is process and go and fix the problem, and charge money for it.

For those that do, I look forward to your email in the future that says thank you. Your welcome for these words I write which encourage you to stand up to BS process that makes no sense. Rebels move the world forward with their passion and they spit in the face of being suppressed by mediocrity.

We all have potential.
We can all do crazy, awesome stuff.
Don’t let too much process ruin the fun party!

 

In conclusion….

Process kills dreams.
Process kills companies.
Process kills ideas.
Process kills people and their potential.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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How To Create Exponential Growth In Your Company Using This Simple Strategy

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company growth

When it comes to business, the more of it you have, the easier it is for the business owner to see where the business will be in five, ten, even fifteen years. Good business is what we want, but great business is what we dream of having.

If you’re an entrepreneur with a startup company, or maybe you’re an old pro cultivating business every day, there’s one thing we can all agree on. Having more business and creating more success within our business would be a great end result at the end of this year.

But what is the secret? It seems some people blast out of the entrepreneurial gate and people immediately gravitate to them, while others get lost in the crowd and struggle for six months before finally giving up their dream. While this is a sad depiction of what could be in store for your business, it doesn’t have to be like this.

Enter Rohan Sheth, a self-made success who used to work the counter at McDonald’s but now runs the CEO desk at Rohan Sheth Consulting, a multi-million dollar company helping entrepreneurs realize their dreams. If anyone knows the secret of creating exponential growth within their company, it’s Mr. Sheth, and he explains these well-known, but little practiced strategies that can explode your business.

1. Stay Consistent

First and foremost, Mr. Sheth described consistency as one of the key parts in building a successful business. He says, “Legitimate consistency with engagement for your business will show relevancy with your audience and allow them the opportunity to connect with you on a personal level.”

Being consistent within your target audience begins to build a sense of trust and expertise within your community and it’s important to understand what your target market wants and needs and sticking to a plan which delivers on these needs daily/weekly.

If your priority on social media marketing is your Instagram account, then make a plan and stick with it. Post consistent and valuable content which will plant a seed within your congregation making you stand out from the rest of your competitors. Remember, if you’re constantly selling to them, they’re not going to listen. It takes perfect timing to understand when to sell and when to continually deliver content that will meet their needs.

Eventually, your consistency will begin to be shared by your audience. When this happens, they will begin expecting something from you at certain times throughout the day or week. For instance, let’s say you have a YouTube channel where you always upload a helpful video every Friday. After you have consistently shown your viewers you can deliver on what you promise, they will pounce on your video’s every time you upload them.

“Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come.” – Dwayne Johnson

2. Build the Relationship

In the online world of business it can be very tempting and even easy to fall prey to data and statistics. Sometimes you may even find yourself pouring over data sheets and getting excited when a line goes up or down.

While statistics are a reliable way to grow your business, it’s not the way to build a personal relationship with that one person who needs your services. No one person is unimportant. Each individual within your reach has the power and the potential to reach hundreds, even thousands of their friends when you take the time to show them you really care. So how does this part happen?

This is when you get down and dirty and jump in the mix in your social channels and your email list. Reply to comments, answer questions, reach out and offer your services and advice when you see someone in need. These are all barrier breakers in the relationship building process and can mean the difference of someone walking away and becoming a high value brand ambassador for your business later.

I realize once your business grows on social media, you will begin to have more people than you’ll know what to do with. Nonetheless, it’s still important to reach out as much as possible and show the face behind the brand. When your audience does start to get large, think about creating opportunities with your channels or pages which can provide a sense of belonging to your target market.

For instance, give the mass of followers you have retained a name. This will make them feel like they are part of the bigger picture and will draw them in and help the relationship building process grow between them and your brand.

3. Solve a Problem For The Masses

In order to encourage exponential growth within your company you need to be making use of the technology around you.

Technology is enabling organizations to reach entirely new markets in massive and viral ways. As the world’s population approaches 7.5 billion, companies and organizations with exponential business models can help close the gap between our growing population and the resources they need.

Many companies start with one core offering to customers to serve one need—like Uber and personal transportation—then expand their services to meet other needs, like UberEATS or UberHEALTH.

Mr. Sheth says to learn about your audience through the data and statistics and develop a plan which can solve these bigger problems they are having. This is more like relationship building on steroids and works well when you have a larger audience. Because the audience is larger, when you do solve the problem, they feel the need to tell their friends about it and here comes the flood of new visitors to your business.

“There was never a night or a problem that could defeat sunrise or hope.” – Bernard Williams

In Conclusion

Every entrepreneur wants to realize their dream of owning a successful business which can touch the hearts, minds, and wallets of every person in their target market. But you cannot do that until you have a plan which will keep you and your team on track. Mr. Sheth’s strategies can help you develop these techniques and when you apply and tweak them according to your personal goals you will start to see your business growing exponentially within your niche.

Is it your goal to own a business or grow the business you’re currently in? If so, share with us in the comments how you are going about it so we can help everyone.

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