Updated: April 10, 2021
How To Get Money To Start A Business
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Almost every [ __ ] day I get a private message on facebook email or Instagram DM someone asking me like no joke hey Dan can you loan me $5,000 Dan Kane only $10,000 I’m gonna pay your back I need to start this business or you know can you it’s almost sometimes a handout now here’s the thing just because someone is successful they are not obligated to help you if you don’t even [ __ ] help yourself by just looking at the requests I know the level that you are ant first of all clearly you have not studied my [ __ ] work maybe you saw one post of mine and then you submit a request hey Dan give me some [ __ ] money here’s the thing if you study my work you know.
I’m all about adding value before you ask anything return so it shows me you have not studied any of my work no wonder you’re [ __ ] Brooke second is you don’t approach a successful people asking for something you approach a successful person adding valid giving them something first before you ask anything in return and third is if you have no money just think about if I’m betting on horse racing you as a jockey as entrepreneur you suck because you’ve never done this before the horse your business your idea probably sucks too if I was the bet on a horse why would I bet on you when I am getting approached by winning a war reaming jockey with a track record with a kick-ass horse and I turned down 99% of those opportunities then.
why I don’t even [ __ ] know you why would I give you money so it is your fault so let me give you some strategies actually four ways that you can find money to fund your business okay number one you can find money the first group of people to go to it’s what I call Shox yes jocks they are the people are in shock tank they are the venture capitalists in the world they are the professional investors in the world chances are maybe years ago they started just like you like myself they were entrepreneurs and now they’re made of money they have a pool money and they’re looking for wise smart investments experienced entrepreneurs to invest in so they’re sharks now there’s a reason why they’re called sharks chances are they want to make more money they want to put the capital to work and they only usually invest in proven investments they bet on proven award-winning horses or jockeys they don’t bet on idea they don’t bet on a pie in the sky kind of [ __ ] and that’s why ICP on these shows and people say I’ve got this widget I’ve got this idea I’m very passionate so [ __ ] what you have no idea how to win the race you don’t know you have no business skills you have no business acumen the fact that you have none is the fact that you need five 10,000 to grow your business believe it or not that tells people a lot so sharks when you’re dealing with sharks knowing that you probably you could get money from them even if you can manage to convince them however you will need to be prepared to give a good chunk of your company because they’re risking their money on you and usually sharks also have chances are they have a lot of experience in business they may ask for a big piece of your business so sharks dealing with sharks second and chances are you’re watching this video 99.
99% of the people watching this video you’re not gonna get money from venture capital you just not there yet number two it’s what I call dolphins so the Dolphins they are the financial institutions they are the banks they are the credit union they are institutions where you can borrow money and banks you can say bangs the problem with bangs is you go to the bank I remember I was trying to many many years ago even trying to get a line of credit for $2,000 $2,000 a lot of credit they wouldn’t give it to me they they just wouldn’t give it to me and now my [ __ ] bankers are calling me all the time hey Dan you need any money.
I can loan you some money in your mortgage you need another Moerlein credit you’re not on another credit card you need more financing for your deal I said I don’t need money no but you might you need let me give me a call here’s how usually banks work they loan you money when you don’t need it that’s right they loan you money dolphins they loan your money when you don’t need it they don’t owe you money when you need it they don’t lower your money when things go into [ __ ] they don’t do that because again bankers dolphins they are very conservative now although you might think dolphins are kind of nice animals and they’re kind of nice well don’t be fooled by that okay dolphins can also you know buy your hand off the teeth are just as sharp as a shark so don’t be like oh I’m dealing with dolphin they’re nice no they are the other day they are they make their money dolphins on the interest right the money they loan you then their money lending business they want to protect the investments no different so time in place there’s a time and place for dolphins and chances are maybe if you’re starting from scratch you’re starting you you are this is your first couple businesses you don’t have a track record very difficult for you to borrow money from dolphins third is.
what I call fish fish is your family and friends right your relatives your brother’s your sisters your mom and dad your vendors your suppliers chances are not to put you down those are the people were dumb enough to loan you money they would be dumb enough and say hey you know what you’re a good guy you’re a good girl you’re hard-working I’m a believer you knowing that you’re probably gonna lose it but you know what I’m betting on you because of the relationship not because of a track record not because your skill but because a relationship you know what he’s $5,000 he’s $10,000 I would.
I would invest in you chances are I remember I brought money from my uncle Sal my business I lost all his money he he was a fish right so I’ve done all of that but the best way to find money to fund your business that I believe that I’ve used mine higher career is you get the money from your customers you get the money from your customers how did get some money you go out and you sell some [ __ ] you get some sales it’s the easiest way to get it you don’t come to me and say hey Dan give me 10 grand good luck what can you do for me all for your service all for your skill or for your expertise you make the money show me that you can make money show me the key you can add value go to your customers my whole life yes.
I don’t know graphic design you don’t need a lot of money you don’t need you don’t need to borrow a ton of money print business cards create all this fancy [ __ ] go sell something get your first client that’s how I get the money there you go you get the money from your customers make that self oh but then.
I don’t know how to sail that’s why you’ll have money so what make so you have you don’t have money you don’t have to make a sell what makes you think you will know how to sell when they give you more money when you get more money it makes no sense right so if you don’t know how to swim in a swimming pool what makes you think you know how to swim in a lake what makes you think you don’t swim in an ocean you’ll be drowned you’ll be dead you can either [ __ ] do the [ __ ] little big kick in the swimming pool you can’t even float in the [ __ ] you know the top Jesus Christ right that’s what I’m talking about also you can also get money from the customers in many other ways maybe it’s paying events get them to pay in events before you even make the damn thing like a Kickstarter you have an idea you’re gonna pitch it you’re gonna get out of their marketplace and you see if people likes it have your customer fund your business it’s the best because there’s an invested interest or even a subscription model have them pay on a monthly basis.
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