The average small business start-up requires an average of $10k to start – but where on God’s green Earth can you find $10k?
I’m here to tell you.. It’s much more straightforward than you might think.
Here are FIVE tips for raising capital:
We’ve talked about this before but people like working with people and honesty always wins. I’ve had many opportunities come across my desk because of the authentic relationships I’ve built throughout the years. Whether it’s with my chiropractor and hairdresser or conference attendees and prospective business partners – authenticity always wins.
Dress the Part
Aesthetic, aesthetic, aesthetic. Apple rarely explains the new display or the upgrades to the keyboard in their ads. They use incredibly creative, energetic and aesthetically pleasing advertising to influence consumers. A prime example that people DO in fact judge books by their covers.. Much like authenticity always wins, appearance helps too. Now listen, everybody has their own style, trust me, I get it. But, it’s vital that your appearance matches the context and vibe of the meeting, your business and is respectful of your prospects’ or partners’ values.
Be the Dumbest Person
In the room… Surround yourself with others who have done or are doing what it is that you want to be doing! If you’re not inspired by the company or people you work with then that is your sign to GET OUT. You are the average of the five people you spend the most time with so spend time with people who you aspire to be, with people who have achieved your goals already.
Harness a Money Mindset
Your perception is reality – if you think nobody wants to invest in you and your product then that will likely be true. However, if you’re confident in yourself and your product then others will likely feel confident in you and your product. If making money matters to you then you must have a “money mindset”.
Piles of Cash
That’s it. Private Equity firms are literally sitting on piles of cash. The average PE investment in 2022 was $1 billion – with over 4,000 PE investments in 2022 totaling over $1 trillion in invested capital.
I’m curious – tell me about a time you asked for capital! Were you successful? If so, why? If not, why? The only way to grow as a young boss is to be honest with and analytical of yourself.
Remember, your youth is your power.