Who here started with others people money........

[21elnegocio]

Who here started with others people money to create a business, or invest in something ?
What are the procedures ? What did you invest in ? Did it go good or not so good ?

 

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[Groupie]

Have done a few deals with OPM. 1 real, real bad one, 1 that ruined a friendship, 1 that I am still sorting out, 1 that is doing well and 1 that has made me a 6 plus figure income as CEO and also a profitable business that I own 51% of. All of them came to me with money and asked and begged me to "make it happen" for them. The ones where problems occurred was due to 1) their impatience -"why are we not rich after 3 or 4 months". 2) lack of participation - "I got into business so I could lay around and do nothing" - it does not work that way. 3) underfunding - "I do not have the funding for advertising, unforeseen expenses. I only wanted to trow some money at this thing and instantly be rich" and 4) misunderstandings - "I thought you said" and "From what I remember" etc. The key? Have EVERYTHING in writing and let them know in writing that they should be prepared to lose all or more of their investment.

 

[DeletedUser2]

I have raised alot of money over the last 20 years, from others, and built businesses from it.

Amazon.com: Raising Capital Secrets; Discover How Savy Business Owners Are Raising Capital In Tough Economic Times eBook: Dale Hensel, Teresa Leberknight, Martine Edwards: Kindle Store

I wrote about it here. (including the partnership worksheet, everything you should talk about before doing a deal with someone)

I recently added to amazon. Sold it before in 2010 as part of a membership site, where I charged over 300/year for the same info.



happy money raising

Z

 

[Get Right]

I did it a few times. Here was/is my formula:

1. Put my skin in the game (cash, personal credit etc.)
2. If more money needed borrow from friends/family
3. If even more money needed go angel/VC/partner

BTW - Anybody giving you money will want to see you max out the previous step

 

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[Tom.V]

I'm all in on my own funds right now, but if things start getting too big too fast I'll definitely entertain the idea. Being my first rodeo, there is a little pride attached with making it all happen on my own accord. Maybe on the next one.

 

[CommonCents]

Zen, Good info, what is your membership site? Many budding entrepreneurs don't understand the biz side at all and need help.

 

[DeletedUser2]

Zen, Good info, what is your membership site? Many budding entrepreneurs don't understand the biz side at all and need help.

Its on the INSIDERS Call that I did. Free For INSIDERS only.




Z

 

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[Glober56]

Now i am all in by myself funds today but in case things commence getting too big too fast. I will definitely entertain the theory. Being my own first rodeo you will find there's little satisfaction attached with rendering it all happen by myself accord. Maybe within the next one particular.