Every business – regardless of its nature – needs capital to begin running. That’s just a fact.
However, this does not mean that you can’t start a business if you don’t have the initial cash to get it off the ground. In fact, you have every opportunity to begin your business venture. You just have to get the money from someone else, and I can show you how to do that.
I strongly believe that if you answer five questions – then you can start a business.
Those five questions in this order are:
Why do you want to be in business?
This is the foundation of your new company.
Once you establish this answer, then you've got to take this “why” to an investor and get them to buy into it. Craft a compelling pitch which makes them resonate with the same “why” and how it benefits them to help you begin this business.
What is it that you want to do?
What is going to be the offer that you present to the world?
You need to identify a gap within the industry that you are aiming to disrupt. Once you fill that gap, you’ll already have a leg-up on your competition.
When are you going to do the thing?
Your timing is everything.
One of the biggest mistakes you can make when starting a new business is going to marketing before your product, service, or team is fully ready.
Take a moment to map out a realistic timeline of your business’s launch and identify the key things you need to accomplish in each stage.
With whom are you going to do it, and who are the main players you need?
What does your team look like?
Do you have a business manager? Who is going to be driving your sales? How many investors do you need?
Each of these questions needs to have a solid answer before you can proceed in launching your business.
How is this all going to happen?
If you can answer questions 1-4 and then cap it with a logical answer to number 5, then you can hopefully capture enough attention from an investor to back your project.
In my case, my questions are all answered within the real estate world:
WHY do people need a place to stay? To feel at home.
WHAT we're going to provide: Clean, safe, affordable housing.
WHEN are we going to do that? The next 30 days is when escrow needs to be closed.
WHO is going to do it? We have a title officer, the property manager, and a great attorney.
HOW is it going to be executed? Well, we're going to follow what the attorneys and municipalities say. Also, here's this accountant who's going to keep track of all the financials.
Once you answer these five questions – and focus on communicating the “why” with your investor – you will have the ability to build a business as large as you can imagine.
Let’s take this to the next level. I can teach you how to start and scale your short term rental business from the ground up.
Get my Short Term Rental Video Course for absolutely FREE through the link below.https://cashflowdiary.com/blueprint