onfession: I have other businesses besides my consulting.
I know… how dare I!
But that’s okay—many entrepreneurs wear many business hats. There’s no shame in our success game! We can absolutely be authentic and present in more than one venture. Like my kids, they’re all important to me and equally loved.
One of my businesses is a startup to build a self-publishing ecosystem for independent authors and publishing professionals. My partner and I are currently seeking investors for our next round. And lemme tell you, asking for money hasn’t been a cakewalk!
Yesterday I met with a mentor of mine who owns a few businesses in our area, and who is also co-founder of a preclinical pharma/biotechnology R&D service. Exciting things they’re doing. A LOTTTT of money he’s raised. He’s been though the gamut of investors, and shared with me some valuable insights on how to grow a startup:
1. Don’t be afraid to ask. “Talk to people. Tell them what you do, and that you’re looking for investors. Say, ‘Do you know anyone who might be interested in investing in our company?’ You may only be one degree away from $50,000.”
2. Don’t ever assume someone doesn’t have money. “One night out of the blue I got a knock on the door. It was a farmer who used to mow for me at Norwoods whom I hadn’t seen in years (He used to own our local golf course years ago). He said to me, ‘I heard about your company and that you’re looking for investors. Here’s $25,000. I want in.’ I had no idea this man had that kind of money. He believed in our cause so much, he paid me a personal visit to hand me a check.”
Sage advice indeed for anyone who needs to raise money for their venture. Be courageous, believe in yourself, and don’t be afraid to talk about your business—to anyone. Because you never know where you’ll find that perfect connection.