Experience Before Money?

Experience Before Money?

Finding investment capital takes a lot of time and energy, and it will take some detailed research and preparation before you’re even ready to start. Make sure to prepare yourself and learn how to get things done right the first time to save precious cash.

In the meantime, get a working version of your product or service and have a business plan professionally written so you know what you’re in for in the next 3-5 years. The plan should have the strategy for your company for the next 12 months. Think of this as your action plan, your map of milestones and goals. This will help you get through the first year of obstacles and make sure that all of your investors are on the same sheet of music.

Prep yourself in every way possible way. Throw yourself into your dream as an intern, apprentice, or whatever level you are most comfortable with to build up experience in your business. Spend your time meeting the right kind of people, whether it’s finding mentors who can give you advice or trusted experts who may be your future board of advisers, build up a network to support yourself.

While you are gaining experience, let Wise Business Plans take the time to professionally research and write your new business plan. Take care of everything else and the money will come when you’re actually ready to spend it smartly.