|5 STEPS TO RAISE STARTUP AND EXPANSION CAPITAL|
Aruba, October 1, 2016 - These universal steps make capital goals reachable for an entrepreneur in any industry.
Not everyone can secure a business loan -- or wants to put his or her personal assets on the line -- and the majority of startups never receive a dime from VCs.
Dreams die daily because of a lack of funds. I was recently speaking to a friend of mine who wants to open her own hair salon. She is great at what she does -- and with her experience I am certain she will be a very successful entrepreneur. So, what is stopping her? About $20,000.
She talked about bringing on an investor and I quickly shot that idea down. Within 10 minutes I laid out a plan to help her raise the $20,000 she would need to start her business. These are the steps I outlined for her, which can easily be applied to any business idea -- they are universal.
1. Identify what value you can bring to the table.
My friend, Sarah, is extremely talented. She knows hair. Her portfolio is massive and includes work on many high profile movies and modeling projects. We quickly identified what value she can bring: knowledge and expertise in the hair industry.
2. Identify who you can provide this value to.
Once you establish what value you can provide you need to identify who is the ideal target to “sell” this value to. After a few minutes of brainstorming Sarah and I found a small niche that she could target: people that are about to enroll in hair and beauty school.
Read more at: https://www.entrepreneur.com/article/282732