|About the Book|
Starting a business, maintaining that business, expanding that business and exiting that business is a lot of work. It does not happen overnight and requires a lot of input. If you do not know how to handle your finances you can mess up and end upMoreStarting a business, maintaining that business, expanding that business and exiting that business is a lot of work. It does not happen overnight and requires a lot of input. If you do not know how to handle your finances you can mess up and end up being bankrupt or incur a lot of losses and lose so much more than just finances. Of course we all want to be successful and have great businesses or companies but your output is just as much as your input.Be financially smart. Involve a lot of people who are knowledgeable in their respective fields like lawyers and financial advisors. Always know the different options that you have and incorporate the ones that serve your needs best. Do a lot of research on the internet and read respective books.You should always determine the type and source of financing you require.In summary when you raise capital or funding there are some key points you need to consider. They include:• How much you want and the period you will have the amount• What you need the money for.• How you are going to repay the loan.• What is your back up plans on how you will repay the loan if things don’t work out?• What type of loan application suits you best?Remember some of the main factors to consider when preparing for a financial loan. They include:• Security and collateral• Effective methods of communication• A very well written loan proposal or grant• A complete business plan• High level of professionalism and ethicsBe aware of all the sources of finances. Venture capital has the highest risk to lender with the highest funding while your own assets have the lowest risk and interest rates too.I wish you all the best and good luck.