WOULD YOU WRITE YOU A CHEQUE?
You’ve started your business and have spent a few years grinding it out.
You’ve had some fantastic highs and some deadly lows… perhaps a few “sure things” didn’t pan out and forced you to fight your way through to find success. You’ve learnt lots and are now looking to ramp things up but your resources are already stretched and you need to grow.
What do you do next?
Ask yourself “how investable am I?”
Building a scalable business is all about being able to attract and apply the right kind of investment. For the purposes of the post we’ll focus on 3 of the most critical types of resources entrepreneurs seek. Time, Energy and Capital.
Regardless of what you seek, the other party will always look to align themselves with people and projects that can provide them with the best return on that resource.
We’re all busy. Time is scarce.
An investment of someone’s time into your business should not be overlooked.
Whether it’s convincing a prospect to make time to see your demonstration or finding a few volunteers to help you with a one-time project.
Time is involved.
Have you ever thought to ask yourself what someone gains from investing time “in” your business?
Are you providing education/information that they can use in the world around them?
Are they meeting people of value to them?
Are you providing them with something intangible that goes beyond the product/service you sell?
Being present for a demonstration or volunteer event is one thing.
Investing additional energy into your cause is another.
Besides having very little spare time – most people are already hoped up on caffeine to get through the day.
Motivated, energized people naturally seek out those that inspire them and keep their “mental tank” full.
Does building your business spring you out of bed before light or keep you buzzing into the late hours of the night?
If it does you can expect to attract more “naturally caffeinated” people into your world as well as infect nearly everyone you interact with.
Unlike time, energy is a renewable resource and will help you and your team (or those who want to see you succeed) push through the lows.
Money is portable energy in that it “buys” what you need.
It has a clear value and allows for a quick exchange of goods/services. Once you’ve found people (employees, customers, vendors) to invest a significant amount of time and energy into your venture it could be time to seek capital resources.
To Your Success,
Marcin has been instrumental in building several businesses including commercial & multi family real estate investment partnerships, a consulting practice and a smart home security business serving customers nationwide. Marcin has secured over $100MM in growth capital for various businesses and has collectively spoken in front of thousands of entrepreneurs, business owners, investors and those just starting to explore living life on their own terms. Outside the office Marcin can be found at the gym lifting heavy things, skiing or on the road zipping along on an extended bicycle ride.
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The information contained herein is for general guidance on matters of interest only. This information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. www.MarcinDrozdz.com is not a financial or tax adviser. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. www.MarcinDrozdz.com, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of the information contained herein.