Wednesday, April 22, 2015

Broke 25 Year old woman starts a business using investors money- From Forbes

I came across this story on the web and it is truly inspiring.  It demonstrates what I've been telling people for years. You can create an attractive opportunity for investors who are starved for reasonable rates of return and get individuals to invest in your business.

This woman shares the story of how she convinced local investors to support her in starting a business even though she had no money of her own.

A related video I did a few weeks ago is located [HERE]


How a Broke Student Got Investors For Her Business: 7 Keys to Getting the Money

A Pakistani money dealer counts US dollar note...
(Image credit: AFP/Getty Images via @daylife)
Here are a few of the reasons people tell me they’re not ready to start a business: they have no experience. They have no money. They’re in debt. Hello, meet me, at age 25 when I was still in school and living on student loans. That’s exactly where I was when I decided to start my first business. I’d learned how short life can be and I couldn’t wait for all my ducks to line up in a nice, neat row–I had to jump in the water and hope the ducks would swim along behind me.
Did banks fall over themselves to lend me hundreds of thousands of dollars? Um, no. They took one look at me and my negative net worth and quickly ushered me out the door. But I was able to convince a few forward-thinking people to invest in my business, and make my entrepreneurial dreams come true. If you have similar dreams and are wondering what it takes to get people on board with their checkbooks in hand, here’s a few things to consider:
  1. Keep it simple and relatable. If you’ve never started a business before, and if you’re approaching people who’ve never invested in a business before, keep your business model as simple as possible. Are your potential investors really familiar with what you’re selling? Is it a product or service they’ve used before? My first business was a fresh juice and smoothie franchise, so even if the people I was approaching for money had never heard of the franchise, they understood the appeal of blended fruit and yogurt–it’s not a hard sell.

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