The Best Business Skill (part 4)
January 20, 2012
When I was 23 years old, I joined a group of upstarts aspiring to be millionaires. We developed a project that looks lucrative on paper. The only problem is how can we raise the capital. We needed P1 Million to start and P10 million to fund the whole project. We didn’t know where to get the money. Fortunately, my partners are really good in selling.
Armed with our only capital, which is our Idea, we sold the plan to investors.
It turned out that we formed a company capitalized at P10 million without investing a single centavo. Not having the money to start a business should not stop you.
Word of Caution:
1) The method of raising capital for a business has many legal implications. Do not proceed without proper guidance.
2) NEVER make a promise that the investment has a guaranteed ROI Return of Investment. Be honest by telling your investors that they can lose their money if the business doesn’t do well. The only guarantee that you can make is that you will do WHATEVER IT TAKES to make it successful.
After 5 years, through God’s grace, I was able to replicate this method to start a restaurant business. I was able to raise P5 million in 3 weeks to fund the business.
Best Business Skill part 1: http://www.jaysonlo.com/blog/the-best-business-skill-part-1/
Best Business Skill part 2: http://www.jaysonlo.com/blog/the-best-business-skill-part-2/
Best Business Skill part 3: http://www.jaysonlo.com/blog/the-best-business-skill-part-3/