"Show me the Money" is the theme for the week.
One of the most 'Eye' opening perspectives of looking at your business idea or project is to look at it from the investors point of view...
WOULD YOU INVEST IN YOUR OWN BUSINESS?
WOULD SOMEONE ELSE INVEST IN YOUR BUSINESS?
5 areas to focus on.
1. Idea- Is the product or service a solid idea- More importantly. would someone buy it or has someone bought it and can you make money doing it?
2. A Business Plan- Do you have one? you can write a business plan that could cost you 0-$100-$2500-$50,000 but the first one is the hardest. Ultimately this is the first step in separating you from just a person with an idea into someone with a plan. I was taught that business is simply a more highly organized form of thought...A PLAN.
3. Marketing Plan- How do you intend to get your product to market? Have you done MARKET RESEARCH? This is probably the hardest and most involved background research that needs to be done.
4. TEAM- This is ultimately the largest category. As John Harrison always says, "People invest in People." Ultimately your job as the founder, president, CEO of a company is to surround yourself with people who have done it before.
5. Offering-Structure-ROI- Finally whats the Return on Investment. If it be Time and or Money what is the pay of? For you? Your Team? and your investors?
Well there it is in a nutshell.. We would love to help you with your business no matter what you can call us at 1-877-New-Biz8 ext 10...
if you are interested in attending or looking at IBI Global. please give us a call right away as we are going into a new class in just a few weeks.
Talked about these two great projects...
1. Cereality- Cool concept got to get these huys on the show.
2. Skateboard Backpack Project- Look forward to talking to the founder of this great project.
All the Best-