Starting a business have never been a stroll in the park. evry now and then, it has proven to be a herculean task, thereby making new businesses to be dead on arrival or a potential business to never materialise.
Perhaps, this is because the business owner(s) didnt place their prorities right. They make the mistake of a bthinking that to start a business, the first thing one need is capital before the business idea but practically, you need to have a business idea first before talking about the capital to finance that business idea.
Ok, now that you have the business idea, the next question that needs answer is: how do I get the capital? keep reading to find out how!
We are in the 21st century and so, new and smarter ways of carrying out tasks emerges daily. gone are those days when you need to beg in tears to your Uncles, Aunties, Parents, neighborhood friends, colleagues at work and financial institutions to lend you funds to finance your business with the promise of repayment at a later agreed date.
There is a smarter and simple method to ask for capital or loan instead of begging the aforementioned persons tirelessly. That way is simply known as the Temporary Partnership Method (T.P.M)
This method enables you to get creative by intimating your potential business financier about the fact that he/she will own some percentage stake in the business for an agreed duration.
This is what it entails: for instance, if I want to start a mini importation business and I need a capital of $100,000. I will present a detailed lecture on what the business is all about to my potential financier; it is noteworthy that the financier have to be someone that is well-to-do and have an insatiable hunger for improvement on his financial life.
I will tell him/her that I will run the business and he is going to get like 30% share of the profits monthly while i get like 20%, and the remaining 50% will be put back into the business to ensure its continuity. lets do a simple math; if the profit from the business monthly is around $60,000 that means the financier will receive $18,000. i will receive $12,000 and the remaining $30,000 will be put back into the business. While I settled for the agreed 20% of the profits for running the business, I am skillfully raising the capital ($100,000) so as to go into the business full time on my own terms.
The financier on the other hand is going to get more than the cash input, $216,000 (i.e. $116,000 extra added to the initial capital for the business) for a 1(one) year successful run of the business. I would have gotten $144,000. this is a win-win situation for both parties.
Remember that before going into this business, I must have understood "modus operandi" of the business to a great extent and also must have freed my mind from pessimism.
You will get capital easily by using the method described above instead of asking for capital from someone with a mere promise of repayment.
There you have it, go out now and get the required capital to fnance that big business idea in your head waiting to materialise. Start it before someone else does and beat you off the competition. impossible is nothing! conquer your fears today! You will succeed.