Rich Dad's Before You Quit Your Job: 10 Real-Life Lessons Every Entrepreneur Should Know About Building a Multimillion-Dollar Business by Robert T. Kiyosaki & Lechter Sharon L

Author:Robert T. Kiyosaki & Lechter, Sharon L. [T. KIYOSAKI, ROBERT]
Language: eng
Format: epub
Tags: BUS000000
ISBN: 9780759514539
Publisher: Warner Books
Published: 2005-08-31T16:00:00+00:00

One Step to Raising Money

Whenever someone asks, “How do I raise money for my business?” I respond by asking, “Do you have a business plan?” A good business plan with a great presentation can raise the money you need. A bad business plan with a poor presentation can lose you money.

This does not mean that the numbers of the business plan are cast in stone. The financial results of most startup businesses do not typically follow the plan or precisely meet the projections. The process of creating a business plan with numbers is an A-Thinking and T-Thinking process that causes the entrepreneur to think through the venture in more detail and then put it down on paper. As stated in Chapter One, a successful business is created before there is a business. This is the creation process put down on paper.

The plan does not have to be elaborate. It can be very simple. A plan simply lets the potential investor see the thoughts inside the mind of the entrepreneur. Also, it allows the investor to know that the person is serious about the proposed business.

Again, even if the business does not take shape, the process of thinking through the creation of a business, putting it down on paper, and matching it with numbers that tell the same story is an excellent educational process and reality check. It begins to balance school smarts and street smarts.

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