The longer and more energetically

you look for venture capital, the

quicker the likelihood your new

business will go down the tubes!

The process of seeking startup funding is like trying to put the roof on a new garage that you’ve already rushed to park in… but that has no studs in place or foundation to hold them. Advice: If you’ve gone this far, don’t be sitting in your car, especially if it’s a top-down convertible. After coaching 500 successful launches, I know whereof I speak.

With extremely few exceptions, I have found that the physical, mental, and emotional drain an entrepreneur experiences while chasing money ends up costing so much in time, energy, attention, out-of-pocket expenses, and lost opportunities, that new business ventures are often thrown under the bus before they can even get reach the intersection.

USE your time/money/energy instead to make your ideas work. When you ignore your finances and focus on making your idea work, on the market you’re going into and on the marketability of your product or service, money will come to you, seemingly out of nowhere and from sources you might least expect.

Don’t let others (including TV programs like Shark Tank or websites like Kickstarter) fool you into thinking that formal business plans, for example, are the answer. They’re not.

I’ve written scores of formal business plans, some of which raised many millions of investment dollars. But those winning plans were for established businesses seeking capital to expand. And they took four to six months to write. That’s a big chunk of time to not be head-down-and-charging-forward with birthing your business.

And all formal business plans cost some substantial dollars for professional fees (CPA, attorney, writer, researcher, printer, etc.). Well, what about offering those folks equity? you might ask. Think hard about that one. Even if they love you and your ideas, they got where they are by charging big-time fees, and your credit sheet, charging for telephone time, for example, won’t be any exception.

The best business plans (unless you are truly at the break-out point of needing venture capital or a bank or small business loan, which unfortunately still all call for formality) . . . the best plans are typically scribbled on the back of an envelope, folded into a pocket for a few days, then replaced with another updated version, which is folded into a pocket for a few days, then replaced . . . etc., etc.

These “Envelope Plans” are best because they are real-time happening and they keep your attention on what you need to do today, tomorrow, this week.

Goals are great and highly recommended if they are specific, realistic, flexible, due-dated, and are in writing. But thinking too much about your goal puts your mind into fantasyland and pulls you away from your immediate purpose. Runners who focus on the finish line too much, trip and fall.

If your idea is good and marketable, stay with it. Work it. Make it happen. After it’s working, if you want to expand operations, then consider formal business plans. But don’t distract your commitment and passion at the outset. Would you put a new baby down in the middle of a high-traffic expressway so you could run a few miles to go buy extra diapers?

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 Hal@BusinessWorks.US or 931.854.0474 or comment below

GOTTA HUNKA SPUNK?                                                                                                                               

NEGATIVE REALITY: “In THIS economy? Nah, now’s not the time to be thinkin’ about starting or expanding a business. You’d have to be nuts! Besides it costs too much for stuff like that, and –if I were gonna do a big new push, I’d want to do it the right way, y’know? Big-time!”          

POSITIVE REALITY: There will never be enough money available to start up or expand a business the way I want to make it happen. Never. So waiting won’t matter. I’ve always believed that CONTRARY to the famous quote: 

NOTHING comes to he who waits!     

That leaves spunk . . .  

1.  Spunk,

2.  determination,

3. tenacious persistence, 

4. belief in yourself and your ideas,

5. commitment,

6. and a burning desire to make your ideas succeed. 

When all six of these ingredients are front and center 24/7, odds are you will succeed by just putting your head down and charging toward the goal of making your product or service ideas come to fruition. 

When you can do that, the money you need to put things over the top will come to you from sources you least expect. Every truly successful entrepreneur will attest to this. If you doubt it, then consider these two points:

• If you have doubt, then you do not have all six criteria (noted above) going for you. Back off and shore up the weak spots before you go charging off. 

• If you are close to having the six criteria above, but still have a smidgen of doubt, talk with someone who has been successful as an entrepreneur, someone who started a successful enterprise on the proverbial shoestring, and you will hear back the exact same kind of chatter.                                           

In other words, people who worry about their ideas making money will not make money; they will, instead, make worry. 

Those who turn their backs on the making money goals and focus their energies instead on getting their ideas to succeed, will make money. 

Weird, huh?  Perhaps, but it’s true.

I have helped over 500 successful businesses and business expansions to get started. I have never seen a single exception to this thinking.  I’m sure there must be some somewhere, but not in my experience. 

You can take advantage of my experience if you’re thinking about launching a business or expanding one. For a modest consulting fee, I will serve as your temporary coach and advisor until you get things off the ground. I work with clients by phone and computer and occasionally, when realistic and appropriate, personal visit. 

You can tap into what I have learned the hard way and spare yourself considerable stress and expense. 

If you’re interested, call me direct at 302.933.0116, and let’s set a time to talk. No fee. I’ll give you 20-30 minutes to get me interested.

If you can’t afford me or I can’t help you personally, I’ll steer you in the right directions –as a courtesy– because my life’s mission is to help small businesses succeed.                                                                                                        

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Hal@Businessworks.US or 302.933.0116

 “The price of freedom is eternal vigilance!” [Thomas Jefferson]

Thanks for visiting. Go for your goals. God Bless You.

Make today a GREAT day for someone!

… not the “beaten” path,

nor the one “less taken”

     When the last time you took a brand new business path? A new product launch? A new line or service extension? A new revenue stream? A new employment position? A new set of objectives, strategies, tactics? A new mission statement? A new vision statement? A new business start up?

     Was it successful? Did you bite the dust? What did you learn from it? Did you manage to stir up a lot of excitement that produced no payoff? Did you drag your butt into the thing and be greeted with enthusiasm personified? Did you charge at it head down and get a concussion when that wall came at you from out of nowhere?

     As any jungle-dweller will readily attest, (and, yes, it IS a jungle out there!) taking a new path often requires the help of a machete and a whole lot of adrenaline. This means you may need to be ruthless as a fruit tree pruner in swinging that sword to create your path or passageway.

     Clinging to old practices won’t help you now anymore than a crank-up rotary dial phone and a ream of carbon paper (if you don’t know what either of these are, you are probably a reckless, young entrepreneur who doesn’t have any old practices to cling to anyway, and you might as well go zoom off to Facebook right now . . . or something).

     On the other hand, if you’re a bit older than the txtmsg generation and you’re a true entrepreneur who’s only willing to take reasonable risks, and you’re sincerely committed to launching a successful venture, OPEN YOUR MIND.

     Be receptive to all the people, places, and things that –until now– you would never have considered worthy of your time and attention. Why? Because some of the world’s greatest ideas… the ones that really put a new venture over the top… come from forcing yourself to think differently!

     A fleeting exposure to yoga, or a snorkeling or grocery-shopping trip, or an hour of playing on the floor with a baby or a puppy, or telling your least favorite brother-in-law that you love him! You’d be surprised at the doors that your open mind will open if you’ll just give it the chance!

     You’ve come this far, isn’t it worth a short experiment to put your brain in a completely opposite/foreign situation/environment –even for an hour– to see if something clicks that can put your venture over the top. Of course it is! Don’t cheat yourself of a great possibility. OPEN MINDS OPEN DOORS!          

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Reality Check!

      Just in case  you’re star-struck with the idea of starting your own business venture, be aware that there’s a little more to it than flipping the black and red “Yes, We’re Open” and “Sorry, We’re Closed” sign twice a day.

There’s . . . 

• money (at least twenty times more than you can even imagine needing!) 
• industry experience, training and know-how
• knowledge of the market and the competition
• customers (you’re going to need a few to start)
• suppliers (you’re going to need a few to start)
• location (which is often critical, depending on the nature of the business)
• utilities
• a formal written business plan
• investor and/or loan payback arrangements
• basic office and business supplies
• inventory of products and/or services
• credibility (industry/community associations?)
• advertising/marketing preparation
• advertising/marketing implementation
• an accountant
• a lawyer
• an advisory board
• employees
• a bank and bank account
• maybe a post office box
• maybe charge card or PayPal arrangements
• maybe a charge card
• furniture and equipment

…this could go on for pages!

     And don’t tie-up  your brain with this next thought, but you surely need to be conscious of the fact that 9 out of 11 new businesses fail in the first 3 years, and that it takes 5 years on average just to break even financially.

     Be aware that  most businesses fail because of poor management. Period. It’s common to hear that a new business didn’t make it because it was under-capitalized, but if you think about that for 2.5 seconds and can be honest about it, under-capitalization is:  poor management!

     You can be  a free-wheeling entrepreneurial spirit all you want, but reality dictates that you have to do some planning and have a ton more money than you think you need just to get up and running. This is a “haste-makes-waste” point in time where shortcuts don’t work.

     Of course there are always  Steve Jobs and Bill Gates success stories about starting in a garage and working “on a shoestring,” and I wish for you to be that kind of successful, but reality is that these two superstars are each one in trillions.   

     If all the above  thoughts have fueled your fire instead of discouraged you into retreating to the life of a bottom of the barrel employee, you might actually have what it takes to make it work. Go for it! (Oh, and if you need to call me for help, do it please before running out of money! Thank you.)

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Input aways welcome: Hal@TheWriterWorks.com (”Businessworks” in    subject line) or comment below. Thanks for visiting. Go for your goals, good night and God bless you! halalpiar  

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