Most startups need funding at some point. Once you have the addressed all of the items in the previous episodes, it is time to build your list of potential investors and start the conversations. They can be friends, family, social network, social media contacts, work colleagues, people in the business industry, etc. Try to put together a list of at least one hundred people. A list of one hundred potential investors may seems like a lot, but the more people you have on the list, the better your chances are of success.
You have proven you have a business that works. Now it is time to put the foot on the gas pedal. When you do this, here are some questions you should be considering.
It is time to make money! You have been through a couple of rounds of market testing now you feel like you are on to something. The next step is to run the numbers to make sure that the business is sustainable. There are two sides to making money, profitability and cash flow.
After finishing your first set of market tests, you need to evaluate the results. It helps you determine whether your business strategy is working or not. It also saves you money down the road if you are not pursuing the right opportunity.
As your business starts to grow, what do you see? Is everything running smoothly? Or are there hiccups in your business operations? When everything seems okay, you grow confident and start to take on more and more customers.
When battling for resources or investment, early-stage entrepreneurs may believe that competition is a bad thing. On the surface, they are correct. There are a limited number of angel investors willing to provide a finite amount of venture capital to founders.
This is one of my favorite hacks/shortcuts for raising money. It will save you a ton of time and get more attention from potential investors.
Pitch Investors Using the Perfect Slide Deck and What Air Bed & Breakfast, Better Known as Airbnb, Included in Their First Pitch Deck
Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders...
Congratulations, your market testing worked and you were able to find customers, or at least one customer. Your beta test was successful and you are confident that you are ready for more. What do you do when you start getting customers or users? I recommend you do some scaling or upscaling.
After you have your business idea and your sales pitch in place, the next step for an entrepreneur is to understand how to beta test his/her business idea. Before you can build a billion or trillion dollar empire, you might want to start with one sale.
After you pick the business idea you want to explore, it is time to go to work. The next step is for an entrepreneur is to build an elevator pitch. What is an elevator pitch?
When it comes to brainstorming startup ideas, new entrepreneurs and even seasoned ones scratch their heads in confusion. Living in the information age, you can scan the current market and see countless new business ideas. With so many options out there, how do you know which one is right for you?
Preventive maintenance equipment inspections help maintain the functionality and longevity of your equipment and reduce your exposure to liability. These annual inspections may also be referred to as Annual Inspections or Performance Verifications.
Income diversification is important for everyone, especially doctors. Misconceptions persist that doctors are highly paid and have no need to seek investment opportunities. Of course, some physicians continue to be well compensated as compared to most of their counterparts in other professions, but a unique concern is risk.
Dr. Timothy M. Wasmund, D.C. has joined the Michigan Physicians Society (MPS) as an advisory board member to help drive the MPS mission to support and achieve physicians’ business goals nationwide.
As physicians, we are expected to be compliant with rules, restrictions, and regulations. We are expected to be risk averse. We are expected to be “providers,” but not necessarily innovators or leaders. As the healthcare system becomes increasingly consolidated into large overcrowded clinics, we are required to perform to the standards set by bureaucrats and clinic managers. These rules are often at odds with the best interests of patients and with our sanity.
The best and the brightest simply don’t want to become doctors anymore. Physicians are burning out. They are leaving the profession. They are going bankrupt. They are selling their private practices to big hospitals. They are retiring early. We are facing a growing doctor shortage.
Michigan Physicians Society (MPS) partners with Professional Casualty Association and Doeren Mayhew Insurance Group to Offer Express Medical Malpractice Insurance Checkup and Exclusive Insurance Discounts to MPS Members
The United States healthcare system is often berated for how it treats patients near the end of life. They are purportedly attached to tubes and machines and subjected to unnecessary invasive procedures that cause inordinate pain with no potential benefit, there is underutilization of more compassionate hospice services. This “travesty” is expensive, as the care of dying seniors consumes over 25% of Medicare expenditures. We hear this story so often; it is almost taken as gospel-- but is it actually true? Is it more expensive and invasive to die in America than in other developed countries?