July 19, 2012 1 Comment
Today’s Post to The Wall:
Amongst entrepreneurs that seek capital, there is one characteristic that potentially nominates each for joining their predecessors that have already been posted to the Dumb Wall.
It’s lack of preparation.
Raising money is an arduous task and requires dedicating time and money for success. The latter is neglected by many that want capital to fund their ventures, new or existing. Including the preparation of a Business Plan and the supporting marketing and legal documents, the average search for funds requires four to twelve months to get real checks. Although most entrepreneurs have a fuzzy idea that substantial time is required, when I ask: “How are you going to cover your living expenses and the capital-raising costs?”.
Their reply is not unusual: “Gee, I really didn’t think of that”!
If you don’t plan and find adequate “personal bridge-funding”, you will fail. You’ll run out of available cash and get nailed to the Dumb Wall. It’s that simple.
My most memorable example began with a BP I received from an entrepreneur who needed $50,000,000 to build a hotel. His BP was reasonably well-done. He wanted to create a “temple”/resort dedicated to Edgar Cayce, an American psychic and prophet of the 1920′s to 1940′s. Cayce allegedly had the ability to give answers to questions on subjects such as healing, religion, reincarnation and the past/future while in hypnotic trances.
The entrepreneur wanted me to raise the funds for him. While initially reading the BP, I quickly decided I wasn’t interested.
To his credit, he was very persistent and kept contacting me with the same request. Finally, in desperation to make him stop hounding me, I offered: “I have a book that tells how you can raise the money yourself. Buy a copy. You’ll find it very helpful.”
He asked: “How much?”
I said: “$29.95 (former price)”.
He said: “I don’t have that much money available”.
I think I believed him.
Somehow, I cleverly computed: “There’s some incongruity here between a guy that seeks $50,000,000 and his inability to buy a book!!” I passed on the deal, permanently.
So, if you’re going on the long and lonely journey to that money oasis in the desert; avoid the Dumb Wall and bring more than one camel and “tons” of water.
Notes: The stories posted on the Dumb Wall are true. I do leave out the real names of the people and companies. You can find other recent tales by clicking on those words in the grey heading, above.
Avoid the Dumb Wall:
1. If you’re trying to raise money or are having difficulties with your venture, contact us. We can help and the initial sessions are free! (email@example.com or 843-237-9802 EST).
2. Also, our book, How To Raise Money, Insider Edition prevents you from making foolish mistakes while raising money and growing your venture. It covers everything relating to financing ventures from: how the funding sources really work; creating your Financing Strategy; writing a killer Business Plan; creative ways to market; selling your ideas; and, … a lot more.
One of our Clients who purchased and read our book sent us an email saying that this book was “the perfect gift” for all entrepreneurs. We thanked him for the idea and then we reduced the price to enable more people to read it. Everybody liked the lower price, so we’ll keep it there … but, only for a litle while. (Click: How To Raise Money, Insider Edition )
Special Promotion: $9.95
(Click Picture For Details)
If you have questions, comments, suggestions (or, even a “story” for the Dumb Wall), send them along. Contact me, Dick Brown, at American World, firstname.lastname@example.org). You’ll get an answer.