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The odds can be against you as you approach the realms of free enterprise. Positioning your business properly in a place in the market with a market-driven idea is the 1st step to improving your likelihood of attaining a triumphant result. The 2nd step is to gather together an excellent team and start finding sources of income. Think about the 17 questions below as you seek for investors. You will need to know the answers to these questions when you ask someone for money. 1. What need in the market have you identified? 2. What does your company do and in what way does it supply a solution to the need? 3. How much cash is consumed in the market you are approaching? 4. What does your company do to generate money? 5. How much money is your business going to make in relation to the rest of the market? 6. How are you planning on finding consumers? 7. How much of your profits are you going to spend on marketing? 8. Who is on the management team? 9. Is your management team good enough to properly manage your business? 10. Who is your competition? 11. What is the average income of your competitors? 12. What differentiates you from your competition? 13. What is your plan for striking the competition? 14. How much cash are you raising? 15. What are you going to use the money for? 16. What and when is the exit? 17. What are the benefits to your investors? While you endeavor to put together a reply for each of these questions, you'll notice that it is a surprisingly arduous task. You will soon find where your shortcomings lie. Money mainly wants to know how it gets paid back and your responsibility as a business owner is to show how that happens. I now think back to the first time I tried out my new knowledge about presenting a deal to a group of investors. An incredible fund raiser had mentored me. Using his method of simply making it clear to them how their investment will generate more wealth, I got a $1 million subscription agreement in just five minutes- it only took a year of preparation and relationship building!
Article Source: http://www.rightarticle.com
Rod Alan Richardson is dedicated to teaching people how to succeed in free enterprise through Leadership Training. Mr. Richardson believes he can change the world by putting people on the path to Transcend Money.
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