More Tips On Raising Finance For Your Business

March 21, 2010

Well, you need finance to start your business, you have no savings of your own and you need other peoples money to start your own business. Does this sound familiar? Join the club. Why should a third party take you serious? I am serious, why should they hand over their cash to you. It never ceases to amaze me when entrepreneurs dont think about these issues before approaching funders or investors. I meet countless numbers of entrepreneurs who need finance but yet are unwilling to take actions to boost their success rate. Perhaps you are one of the exception. It is with this in mind I want to share yet another three top tips on how to raise funding for your business.

Tip No 1

Make sure that you present yourself well, when you meet with investors and lenders. The way you dress and speak matters. Every step of the way you are being observed. Your presentation must be compelling. This is why we provide training seminars in financing your business to help you develop the right knowledge base so that you give yourself the added advantage when you are faced with potential investors and lenders.

Tip No 2

Think correctly and positively. Your mental life is one you have to take control over. One of the secret of success is the ability to take control of your mind and direct it to what you want to see happen in your life. If you want to raise finance, you can’t be talking about defeat and doubting your ability to do so successfully. I covered this aspect of “Mind Power” in my book “My Business Is My Business- Learn How to Earn a Fortune” and I have produced audio CDs on the subject of the power of the mind. Remember, you have something to offer the investor or lenders. Investors and lenders of money make their money through your ideas. They sell money for interest or dividend to those with great ideas that will generate profits. So the relationship is two ways. All you have to demonstrate is that your deal will help them realise their dreams. They have to see it clearly and so it is up to you to show them how it will work. Stay clear from fuzzy language and terminology that will only serve to distract from raising finance when faced with the opportunity to do so. Do not use jargons familiar in your industry but not outside your industry.

Tip No 3
Solicit the support of experts. You do not want to be “Jack of all trade and master of none”. Remember, the money you pay for expert services is not an expense; it is an investment in your business. Change your perception of money. This is one of the causes of success. Successful people always pay for good advice. The opposite is equally true for people who repeatedly fail in business and life generally.

OK, I rest my case. If you think you will get your hands on other peoples money to invest in your business without incorporating these tips, I will be glad to hear from you. However, it is more than likely you wont and so i would like to encourage you all to take decisive actions to improve your capacity to raise finance.

Regards
Sheila Elliott

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