What Is the Best Practice for Raising Capital for a Developer?

Audio Transcription

Want to attend the legendary drive time show business workshop for free, subscribe on itunes leave. It objected top rated business conferences review and send his confirmation at info at drivetime show.Com to claim your tickets want to live in a van down by the river, come by and see us at our riverwalk offices and will be able to make your dreams come true. Alright, tribe, nation, welcome back to the thrive time, show on your radio and podcast download and where answer the question that was emailed to us from a thriver who writes what is the best practice for raising capital for developer, this was sent to us from a driver in the dallas texas area, so I’m going to go through the steps for raising capital for developer, but there’s a lot of them so I need you to be prepared to take a lot of notes, and please understand that all of this will be on today show notes, which is available at drivetime show.Com. If you click on the podcast button step, one you got to prepare for the rude interview, so you’re going to ask somebody to invest in you, either be prepared for them to ask you. What is your credit score? What’s your net worth, let me look at your personal certified financial statement and what is your collateral and if you’re not prepared to answer those questions, then you really shouldn’t do anything else?

Marshall you see this all the time you know that want to start a business and I love the people that want to start businesses that are involving a daily service. This is one of my favorites. They would have start a business that involves daily supplement daily radio show or you might want to do a daily top rated business conferences blog, our daily publication or a daily i. Don’t know it daily online education platform for multi-levels a daily something, and when you want to do something daily more, you have to do it daily and consistency, integrity and lack of consistency and the lack of integrity, and so I got this million dollar app baby I want to make that and I just need. You guys to fund the apps to be huge, and if you ask him, okay well before i, look at the app I want to look at your credit score, your net worth your personal certified financial statement and your collateral. They usually run for the hills in marshall. Why is there a big thing? Is what is your collateral? What are you willing to put up as a guarantee for getting the money now, if you’re unwilling to bet whatever it is, whether it’s a home, whether its assets in the business, if you’re unwilling to do that, then you’re not committed to this whole business idea. Example with with right every time I put in a dollar doctor see matches the dollars. What’s really cool is we don’t have to put dollars anymore, but we were like 3 years in a row we put in hundreds of thousands of dollars every week putting in 2000 5000 4000 every week, because we wanted to build the world’s best online mentorship experience with a shoot thousands of videos, tunza podcast, we’ve had do it and every time I talk to him after to tell me how much money have you put it and I’d say this point 280000 or whatever? The number is just want to see that, but if you’re not willing to show your credit score, what your net worth is. What do people look at your personal financial statement and what’s your collateral, everything else won’t work, now. Going to be all in right.

She sold her house gutter business 18 months ago and they were inches rock and roll, and but guess what she’s living with her mom right now pitch deck. It’s the perfect slideshow deck is what they would call in the world of venture capital. It’s called a pitch deck, but you’d call it in the world a top rated business conferences plan or a powerpoint slideshow, but there’s an actual format that you want to follow, and navarre avocado to the founder of angel list has listed the perfect business plan or pitch deck and I have put an outline of it. You can find on page 55 of the book called pitching hacks, and this is all available for you right here for free on the thrive time. Should I come podcast up chicken fight, so I’m going through a lot, but it’s all available for you right there. So this these are the steps. These are the things you need to have page number. One needs to include your logo, your tagline and your complete information. If you don’t have a logo of a tagline or incomplete information, that’s the point. They don’t want to see your presentation. The summary you got to summarize the key, compelling facts of the company and make sure you cover all the topics that are in your elevator pitch people that don’t have a summary of their business with compelling fax. Yet again, you shouldn’t pitch in your going to be rejected. Then marshall, you have to have a highlight of your team, your team page 3, the team and their past accomplishments of the team, because it’s likely that, if someone’s been successful in the past that deal, do it again marshall. Why do you have to have a team on your pitch deck? You got to do this because they’re looking for other people that have vetted and decided to come on board with you before they choose to, and so it’s social proof for your business idea in the problem going to describe four page before you got to describe the customer the market, the problems you address without getting into your products emphasize the pain and inability of the competitors to satisfy the need. It is absolutely important that you do that move number 5, page 5, introduce your product and its benefits and describe how it addresses the problem that you just described.

It goes on to say, god help you, if you have nothing to show here, you want to show up at scream faster, a demo. You got into that help. Step number 6 page number, 6 of the perfect, pitch deck, the perfect business plan. You’ve got to describe the technology for your solution, focus on how the technology enables the differentiated aspects of your solution, page 7 marketing for your customers. How big is the market? You got to summarize all this in elaborate the details, how are you going to acquire customers step? 8 sales? What’s your business model, if you have sales discuss how many sales you have in your pipeline, how many cells are going to have you got to break that down move number. You describe your competition who’s out there competing for the same dollars that you’re competing with it. If you’re saying to yourself, we don’t have any competition I pick his competition is top rated business conferences ourselves. You can watch it too many tai lopez videos, because you have to know who your competition is. It disturbs an investor by the way, what kind of person is an investor somebody with money to invest turns out?

You can’t get rich quick, so somebody has built their fortune. Isn’t a jackass move number 10? You have to declare the milestones describe your current status and your perspective milestones for the next one to three quarters. Do you have to have a conclusion on page 11, 12 marshall, you have to write about your financing, the dates, the amount in the sources of the money raised. How much money have you raised so far? It’s so important you put that all on the pitch deck. All the notes are available for you. If you go to thrive time should have, you click on the podcasts button. You can find the note the marshall. Why do you have to believe that level of detail that you’re going to raise money? You got to have this level of top rated business conferences detail because it requires you to think through the entirety of the business. What is the actual business? What is the problem that it is solving and then what is the ask at the end, you got to put the financing. What is it that you’re asking for investors? I have never written a business plan that took me less than 40 hours to write those going to take some time for tea, at least because you have to write it. Then edit then write it then tweak. It then fact check it then cited been assumed, you’re wrong, run it by somebody have an ender look at. It has to be right or you will be rejected and my friends, the thrive nation, that is how you raise capital for your business