This is a question that almost every entrepreneur, business owner or startup has asked themselves at some point in the beginning of their venture or when the idea to start either was conceived, this is such a dreadful question to answer that almost kills some great idea or has most of them miscarried even before the 1st trimester is complete.
It however doesn’t have to be the case at all, yes you read that right, that great idea you have can be actualized with or without whatever capital you ‘think’ you need or require, it is however important to understand that we’ve used the word think in quotes, this is very deliberate on our end.
Now please take the next few minutes and read through this article to understand why we say that, it is very possible for that idea, dream or vision to take off with or without capital.
Before then allow us to first of all distinguish the different types of capital required to actualize that plan, or that dream, or better still that vision; we have finance capital, human resource capital, knowledge capital, power capital, gap capital and so many other types of capital you can also list as many as you know on the comment box below.
So now you understand that we have not limited the definition of capital to the conventional definition of it, but have however viewed it from a broader spectrum.
As an investor or an entrepreneur that wants to succeed never start from uncertainty or lack, it’s always better to start from a strong point, meaning list out the capital sources that you already have or can have access to without much headache, then for the sake of that double entry now credit the lack account, just to balance the table but not to worry about them, at least for now, that is the first step in the capital raising journey.
Now that you have raised the most essential part of your capital the next step will be to review the vision and prepare a plan on how it takes off with the available capital, write down that plan. What you’re doing by this stage is actualizing your vision with enough possibilities before you can address the credit account that you have waiting on you. (This idea can be married with the autosuggestion chapter in Think and Grow Rich book) At this point you’ll be so fired out and invested into the vision that your brain is strong enough to handle and figure out how to fill in the gaps in the deficit account, and that’s our next step.
Having known that the vision is viable and realistic you’re in a good mental state to deal with the stumbling block to the realization of the vision, the credit account. At this juncture allow us to address this with if this account is financial related because in most cases it is, not because it has to be the case, if in your case it is not financial you can still use the pointers, we’ll use here to solve your puzzle or better still reach out to us and we will guide you accordingly.
First step is to break down the amount into the small bricks that make the wall, i.e don’t address it as a lumpsum amount but instead address it in block pieces, this will help you realize what amounts you MUST raise at the initial stage, which you CAN raise on the way and which CAN be avoided all together, or that can be re-adjusted.
What this strategy does is ease your mental stress with the sigh of relief by illustrating to you that the huge amount that your mind ‘thought’ is a must have might actually not be that a huge amount at the initial stage, also what it does is keep the high spirit you had high and that way you don’t lose the focus or get overwhelmed, but you’re able to keep keeping on which is all you need as a startup, entrepreneur or a business owner.
After the bricks arranged in order of urgency, it is time to note against each brick the potential source of the funds, you have multiple sources at first, then after the first draft, allow it some time, go do something else and let your mind settle, then come back and review the source list again, at this point you have relaxed and you are in a better mind frame to think critically and not emotionally, cancel out any source that you are don’t have at least 80% confidence level that it will come through, what you’re doing with this is you are eliminating the disappointment before it happens to avoid demoralizing your already fired up self. After you have the second list now it is time makes the calls and either have the funds come through or make the request known.
Once you’re done with this stage it is time to now actualize the vision from the mental being where it started then became a written down being and now it is time for it to be physical of final product being that it was meant to metamorphizes to.
Do you think you’re in a better place to actualize that vision you’ve had all this while after this read?
You can also share what more topics you’d like us to discuss on the comment box below and we’ll schedule them.