Money means different things to different people. To an entrepreneur it's a chance to turn a dream into reality. Before you can convince an investor to give you money, you must show that you can, and have managed your own money. Keeping accurate bank records, little to no debt, good credit rating, and some cash flow are key aspects of good management. If you can prove this to a potential investor, marketing your idea, yourself, and your product will come next. These are the direct steps to making it happen. If your personal resources are out of order and you cannot balance your own checkbook, take time to educate yourself first on your own finances, before attempting to tell an investor what they should do with theirs.
Questions
1. Are your personal finances in order?
2. If your personal finances are not in order what steps do you need to take to fix the problems?
Exercise (Groups)
1. Identify the individual strengths and challenges in your group, if alone identify your own. Look at your challenges list and decide what type of experts you will have to surround yourself with to overcome the challenges. What stage of development will this expert be necessary?
