ENTREPRENEURSHIP: CAPITAL - MORE THAN CASH IN BUSINESS


You may have been looking for capital to activate or expand your business idea without success. May be everyone you thought could be of help have turned you down and your world seem to be ‘crashing.’ Looks like God is not answering your prayers.

But have you ever paused and pondered on why you are not succeeding at raising capital for your business?  Do you think people in your world can be so mean as to not wanting your idea to see the light of day? 

A lot of people have gone through what you are going through and they came up with the resolution that there are other things needed that are more than capital. When you get them, the capital you’ve been running to post will naturally come to you.

Almost everyone believes money is the core of a business which is actually not.  Money is only one of the major ingredients you need in the recipe for a successful business. 

There is too much focus on money as the only tool for business success and everyone with a business idea sees money as the first thing to get without looking at other requirements. Some requirements are more than money; they will attract, keep and multiply money for you as an entrepreneur.  

Below is a list of some major requirements that are more valuable than money:

1. PASSION:  it is more valuable than money, in that, it can generate money but money cannot buy passion. Passion can be converted to money. Without passion, a business venture cannot make waves. Passion can make a business stand the test of time. It can build a thriving business. Have passion for an idea and the sky will be your starting point. Passion is doing what you love and loving what you do, from your marrow.

2. TIME: Time is more valuable than money. It can be converted to anything including money. We can use time to achieve what money cannot achieve. Time can be converted to money but money cannot be converted to time; any time lost is lost and any amount of money lost can be regained with time. You need to make good use of your time in business to increase profit. When you kill your time, you are killing your business.  

To make the most of your time, value time over money and other activities. Concentrate 80% of your time on the top 20% of the things you’re looking for. Invest time productively. “Stop spending time, invest it; it is the hardest currency in the world.”  

No matter how tight your schedule is, make out time for your business and you’ll be glad you did. When you invest time in your business, you bring value to the market place, which in turn brings profit. Time properly invested worth more than a fortune. Time wasted can be devastating.

3. PREPARATION: How prepared are you to convince others to invest in your idea? Your level of preparation will determine how serious people will take your idea when presented to them. Always prepare in details about your idea. “When preparation meets opportunity, the result is luck.”

Strive Masiyiwa once said, A very famous friend of mine who is a music industry icon once complained to me that he'd gone to New York (the world's money capital) to raise money for a very good business proposal, but despite seeing everyone that matters, he failed to raise any. He was shocked to learn that I had repeatedly turned down money from exactly the same people he had seen.”

4. DESPERATION, DETERMINATION & PERSISTENCE: Desperation says “I must succeed in this business” while determination says “I will do all within my capacity to drive this business”. Persistence says “I must keep at it, no matter the odds”. These emotions are capital.

5. COURAGE: most business ideas are still pending because the bearers of the ideas lack courage. Courage is taking step in the midst of fear. The money is there to start the business but fear keeps holding them back. If you have courage without having money, you can still start and grow your business. Even existing businesses go down because some Entrepreneurs lack the courage to take further steps.

6. AMBITION & FAITH: Ambition makes you set higher goals while faith makes you believe you can achieve those goals. Faith gives you the guts to achieve those goals. With faith, your self-esteem soars. Having a billion dollars without faith is poverty; you’ll loose the money to another Entrepreneur with faith and without money.

7. CREATIVITY:  This is the act of putting your brain to work at full capacity and coming up with new ways of doing things. According to Dr Ben Carson, “we cannot overload the human brain. This divinely created brain has fourteen billion cells. It used to the maximum, this computer inside our heads could contain all the knowledge of humanity from the beginning of the world to the present and still have room left over”. Put your brain to work. Feed and task your brain. You feed & task your brain by acquiring & processing knowledge and acting on the knowledge acquired.

Thus far, you have used less than 10% of your brain power. More than 90% of your brain is just lying fallow. Imagine when you are able to engage up to 50% of your brain capacity, the wonders you can accomplish.

It’s up to you to decide; God has given you your brain to use for your advancement in life. The human brain is limitless; there is nothing it cannot accomplish. Your brain is worth more than a fortune. It is more valuable than money. All you need do is to engage it. Figure out a way to make it work.

8. PERSONALITY: Your personality has to do with who you are. Who you are has to do with the qualities you possess.  Who you are determines how you do what you do. How you do what you do determines your success or failure. Good qualities outweigh money.

Qualities like doing little things in a big way, having substance, diligence, excellence, humility, charisma, integrity, creativity, insightfulness, and what nots. Developing these qualities makes you unique.  You’ve just got to wake up and work on your personality. It’s not something you can achieve in a day but over time.  Strive to build a strong personality.  

Build your personality in a way that you can fit in where ever you find yourself; you need it as an Entrepreneur to ‘ride the waves.’ Build a personality that can relate with the old and young, rich & poor, male & female, with ease.

A kind of personality that can make things happen. If you have a sophisticated personality, the world is yours even without money in your pocket. A well groomed personality is more valuable than money & can secure your future and fortune.  Start now!  

9. WISDOM: “if any of you lack wisdom, let him ask of me……………. In all thy getting, get wisdom…….. Wisdom is profitable to direct. ……Wisdom is the principal thing….” What then is wisdom? It is the correct application of knowledge. Success is 1% inspiration and 99% perspiration.

It is one thing to get knowledge and another thing to apply it at the appropriate time and place. If you have knowledge without applying it, you are yet to begin the Entrepreneurial journey. Even outside of business you need wisdom to conquer your world. Wisdom will make you a ‘King’ in the market place.

10. SOCIAL CAPITAL: This has to do with how people around you perceive you. How people perceive you will determine how they deal with you. Never expect anything good from people in your world when you are not straight forward with them. Do everything within your reach to win people’s trust & confidence.

With social capital, the required capital to start or expand your business will never be an issue. “Social capital is like a bank draft.”  - Sam Adeyemi.  As we all know a bank draft cannot bounce. You can use it cash the signed amount with struggles.

How do people in your world perceive you? What are they saying behind you concerning your dealings with money?  Do you say what you mean and mean what you say? Do you think people trust you? If yes, then go ahead and ask for the support you need to activate or expand your business idea.  A good number of businesses have been built with social capital.

CONCLUSION:
You can succeed in business without having money to start-up, but you cannot succeed without these things listed above. All you need do is to look beyond capital.   As much as you focus on money as the core of your startup or expansion, you can as well shift that energy to the ‘backbone’ of the core (above list) and experience a tremendous turn around.  

Make a U-turn on your approach to raise capital for your business today!






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