Move Your Money For A Better Economy

For businesses in America who are frustrated with the economy, I have a simple question:

Are you banking with one of the fourteen banks who were "too big too fail"?

You know which banks I'm talking about... they were responsible for the last great depression and once again, they were responsible for the recent collapse in 2008/2009, too.

Banks who are backed by the families named Morgan, Chase, Goldman-Sachs, etc., along with banks like Bank of America, Citibank, and, Wells Fargo, etc..

Are you going to continue to support the banking policies of these banks? If so, you might as well start wearing an "I love Potter" shirt every New Year to show off your allegiance.

If you're saying, "I love George Bailey" well then do yourself and your community a favor and move your money from the "big fourteen" to a regional, community bank. You money is insured by the FDIC, and you'll probably get better service, as well.

This concept is inspired by a post I read at the Huffington Post:

"The idea is simple: If enough people who have money in one of the big four banks move it into smaller, more local, more traditional community banks, then collectively we, the people, will have taken a big step toward re-rigging the financial system so it becomes again the productive, stable engine for growth it's meant to be. It's neither Left nor Right -- it's populism at its best. Consider it a withdrawal tax on the big banks for the negative service they provide by consistently ignoring the public interest. It's time for Americans to move their money out of these reckless behemoths. And you don't have to worry, there is zero risk: deposit insurance is just as good at small banks -- and unlike the big banks they don't provide the toxic dividend of derivatives trading in a heads-they-win, tails-we-lose fashion."

Can you agree to this principle?

Watch the video and then decide for yourself if this is a good New Year's Resolution regarding your money:



Per Huffington, please "watch Eugene's amazing video, then go to www.moveyourmoney.info to learn more about how easy it is to move your money. And pass the idea on to your friends (help make this video -- and this idea -- go viral!)."


Moving your money from a "big fourteen" bank to a smaller, regional bank can be one way you can contribute to the growth of your local business community and help rebuild our economy the good, old-fashioned, American way.
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Raising Money To Start A Company, Part I

How To Know When You're Ready for A Cash Infusion?

Frankly, you probably aren't ready to ask for money. Why? Because usually the problem with launching a business or product ISN'T whether you have enough money, but more rather how much VALUE you're providing. And, most entrepreneurs who are drawn to raising quick money aren't serious about keeping their business or building a strong business in the first place.

I have a few questions to determine whether you're ready:

Have you articulated your message well?

Are you delivering high quality products and services on time and under budget?

Do you have a solid team built who can help you grow your business?

Do you have a stream of customers starting to line up outside your door?

If so, your word-of-mouth will grow your business, and you may never need money. However, that is when you will most likely be able to receive money. If you don't have "yes" answers to the above questions, I'd suggest you tighten up your business FIRST before going after the money.

I often receive inquiries from entrepreneurs about how to raise money for their business. Well, I can help you write a business plan. I can also help you approach entrepreneurs. But if you haven't addressed the above information properly, it won't matter. No matter how much money you have, if you don't have a good business model you won't success. On the flip-side, if you DO have a good business model and you ARE winning new clients, getting funding will be much easier.

Then, it's simply a matter of making sure your financial numbers and projections are in order, and approaching the appropriate resources for the cash infusion you seek to GROW your business.

The problem with most people who are seeking to get money quickly is they are ignoring business basics and failing to develop a solid base of business BEFORE going for the cash. Now, in the case of the dot-com era, there was an exception to the rule. Many companies wanted to get online quickly and build it first, so they could establish market dominance. However, if you notice, there is still probably room for a company to sell books online successfully, even though Amazon, Borders, and Barnes & Noble already have a strong market established. In addition, there is probably still a market for a better or faster web browser, although my guess is that the next killer application online won't be a browser at all.

True innovation often leads to breakthrough products and services. Have you put out the effort to innovate? If so, you'll attract the business you need to succeed.

Now, if your situation is that you've covered your bases, you have a basic business plan, you've built a team, you have a product, you're making sales and making money, and want to raise money, then let's talk about getting you quick money for your business.

You'll need to answer the questions:

"How much do you need?"

"Why should they give it to you?"

"How soon can you pay it back?"

Once you can answer these questions, and you have a stream of happy customers starting to line up outside your door, then email me and we'll go from there. Stay tuned for Raising Money To Start A Company Part II (coming soon).
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How To: Better Business Plans

How to write better business plans

Are you starting a new company? If you are, it won't be long before someone asks you if you've written your business plan. This is especially true when you seek funding of any type. Gone are the dot-com wild-west days when snotty-nosed Stanford students could sit in a VC's office and mumble "We don't have time for a business plan" and still receive $20 Million Dollars.

Business leaders, today, ought to have their act together. And, part of having your act together is having a good plan.

What are the keys to writing a successful business plan?

Here I'm going to describe 12 Keys to Writing Better Business Plans:

1. Know your weaknesses and address them.

2. Make an impact.

Use a video, use a demonstration, anything to show why your product or service is superior.

3. Compete.

What type of competitive environments are you submitting your offering? Are you entering contests? Are you willing to put your name on the line? Are you submitting your ideas against the pack? Bill Gates would never have succeeding with Microsoft had he never got his basic disc operating system in front of IBM. Success often starts with the early competitive moments that define us.

4. Tell a story.

You have to tell a story. If your story isn't compelling, people won't buy from you.

5. Be doggedly determined.

Are you committed to making it work no matter what obstacles get in your way?

6. Make it fundable.

Great ideas aren't the only thing that matters. Often, the most fundable project that may get you funding. Set your business up with enough punch to attract funding.

7. Refine, refine, and refine your pitch.

A better elevator pitch - have someone catch you in an unsuspecting moment and ask: "Why you?" See how you answer... then refine it. Rinse, repeat, etc.

8. Management team ought to know.

What is your management team's record related to what you are doing? There ought to be a long-tail of related history tying what you did in the past with what you're doing now.

9. Determine your market, then sell to that.

If you can determine your market early, the better for you. The more you narrow your niche to the people who truly have the money, power, and desire to buy from you, the more you will win.

10. Put some of your own money in your company.

Do you have skin in the game? An entrepreneur who hasn't invested any of their own money probably won't be as committed. At least, that's the prevailing logic used by VC (venture capitalist) investors.

11. Know your risk.

What's your risk? In addition, are you aware of the risks to your business? Many investors want to know the exact risk of investing in your business. You ought to know your risk before and test your strength against it PRIOR to going after the money, if possible.

12. Know both break-even and ROI points for investors.

What's the projected gain? If you can't show a reasonable ROI (return on investment) within a reasonable period of time, you won't get the money you need to grow your business. As my Dad likes to remind me, "Cash Is King" and if you're getting cash you must realize there WILL be an expectation that you'll make MORE cash in a short amount of time. This will increase the pressure on you to succeed. So, have your act together when you ask for money.

When you design your business plan, consider these twelve steps to success. I probably could have added: 13. Know your exit strategy, because that will come up, too. Many business leaders don't understand that if they don't have the background for their company, they either need to hire it (get better managers) or sell their idea. Otherwise, they may be facing years of struggle.

If you need help, ARRiiVE's business planning team has an incredibly strong track record of writing business plans that get funded. In fact, ALL of the business plans we've written in the past seven years have received the desired funding.

Make sure you identify your strengths and weaknesses. And, if you don't need money now, still keep in mind that you may in the future. Raising money is often a part-time job for many new entrepreneurs. Get good at it, and you'll succeed much more wildly in the early years of your business launch.
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Copyright © 1999-2008 by ARRiiVE Business Solutions. All Rights Reserved. SUBSCRIBE.