Billion Dollar Venture- Steps to starting a successful business

Chapter 5| the Next Big Step...

"If you don't have a competitive advantage, don't compete." - Jack Welch

Before you take the next big next your idea 'should tick on some certain fundamentals that every business should apply to.

Ø Are you passionate about your plan?

Ø Is it unique?

Ø Know your competitors.

Ø Is it a rule breaker?

Ø Is it a game changer?

Ø Know your target market.

Ø Is it helping the community/economy?

Ø Have you got the skills required?

Most entrepreneurs fail to launch their businesses because they lack Capital. You have at list three alternatives of getting started. Remember, your Plan must be unique.

· Get investments

· Invest from your own pocket!

· Loan

Both of the two alternatives are risky to deal with. Chances of making a loss are high, and failing can be essential.

"It's fine to celebrate success but it is more important to heed lessons of failure."- Bill Gates

If you choose to start with your personal capital, its great but one way or another you may get to a point where investors are an option. They are also great reasons for launching without anyone's help.

· All the shares are yours!

· You control your business the way you please.

· If your product isn't succeeding the markets, you can still sell out with no consultation of anyone!

They is also another reason why launching it yourself is good.

· Investors are more likely to invest in an existing startup than just a plan.

The risk for them investing in a non existing project is too much for them. They may not trust in something they have not seen. You can't easily put your money on something you haven't seen.

The other Option:

Investors.

Venture Capitalist are drying up, especially in the U.S. It's now quiet hard to get investors to invest because truly speaking most Angels/Venture capitalist are ignorant. Some you can send them thousands of emails but they never reply, and many of them if you call they will tell you that they're in a meeting and mostly that's a big no before they even get to see your plan.

In some cases one may meet some investors but they will turn it done. In that case I suppose you try again because when they turn it down its more likely that they don't believe that you are passionate about it or have what it takes to run the business, especially if you don't have partners.

Your plan is the center of attraction. Point that you have a business plan ready; this will show that you are ready and not lazy.

You will be lucky to get a meeting arrangement. This option has its good sides and bad ones too.

Are you able to prove to them that you can run it? Do you have potential to build an Emperor? Are you willing to take risky?

Advantages:

· More money for campaigns

· Expenses may be covered

· Have a great pitch.

The last option is going for a loan.

If they are no other option then the loan is the only option left on the table.

Consider these before you take a bank loan or any other sort of loan.

Ø Will you be able pay it back

Ø How fast can you gain the money

And then they are advantages.

These are:

· All shareholders, all the business credit goes to you.

· Etc

:{"s>=z]