Redefining Your Path to Success – Part TwoAugust 23, 2010
The 3 C’s of Your PERFECT Pitch, by Christine Comaford, The Executive CoachAugust 29, 2010
- Capacity: The very first thing any investor will want to know, whether it’s a personal friend or colleague or a Wall Street bank, is your ability to repay the debt. Have your income projections, tax statements, credit reports and a few letters of recommendation firmly in hand before you even start the process.
- Capital: Amount personally invested by the owner. How much have you, yourself, put into your business. Remember that this isn’t just about money – it’s also inventory, expertise, time – what we call “skin” in the deal. But a financial investment definitely works FOR you in this case.
- Collateral: Assets that are pledged for the credit. Definitely have a great business advisor before you go handing over your worldly possessions or equity shares to investors. There’s NOTHING more important than an executive coach when you reach this point. That person should also be able to help you get your pitch and your pitch documents ready – and perhaps even have great contacts and possible investors to connect you with. If you’re at this point, you can reach out to me at https://smarttribesinstitute.com/contact.
- Conditions: Intended purpose of the credit. Nobody just hands over their purse strings. Telling your potential investors WHAT you’re going to do and roughly HOW you’re going to do it will go very far toward getting them mentally and emotionally invested in your vision. After THAT, the pocket will follow.
- Character: Background and experience of the owner. If you’re the leader in your industry or have 20 years of experience, you’re definitely on your way to having the kind of character that investors want more of. This is not the place to be humble – get out there and toot your own horn. Testimonials and definitive success stories are also key.
Let’s face it, having enough capital is KEY to business acceleration and success. If you’re NOT at this point in your business (which basically means having a 7 figure business) but would like to be (who wouldn’t?), you can attend one of my Business Acceleration weekends. You can find these events all over the country – the schedule is up at http://BusinessAccelerationIntensive.com