If there is any lesson that successful business people around the world must have learnt in all their years of business experience, it would be that when you are trusted then you can generate the funds that you never had. That can also be said in a different way using the word ‘reputation.’ We can really say that when you have reputation then it is easier to get the money you are looking for either to start the business or to expand the business. Why is this important? It is because there are those looking for some funds to push their businesses but they will not get those funds until they begin to engage reputation capital and they cannot do that if they do not have any reputation!
I have heard the stories of some elderly people in the society who truly have the resources to fund the ideas of young people but they have been let down by many of this young people because as soon as money gets into their hands the next thing they want to do is to satisfy all their personal needs and not build any business that should have been built!
It will not matter what kind of business you want to go into and what amount you are looking for if you do not have the character to win the hearts of those who want to invest in your business. There will always be the need for you to prove to the people who can give you money that you can be trusted and that their money is not going down the drain.
You should never think that it is so hard to get money for what you want to do. One thing you just must know and work hard on is that when you have reputation it will be easier to get some funding. When people trust you they can give you money and even if they do not have the money they might be able to give you some recommendations to those who have the money. I strongly believe, just as I have done it before, that you can always walk up to those who trust you for money to do business and you will get the money if those people have the money.
Some have borrowed small amounts of money and have messed up so bad with it and that’s why they will not be able to get another amount of money. It is one thing for business to go bad and it is another thing for you to collect money and just lavish it. When some people collect money like that and they spend lavishly, they usually forget that there would be another time in the future when they will need people again in order to get funds for their businesses.
Even if you go to the bank, the bank does not just give you money simply because you know the bankers! They will want to know that you really have the resources to pay back and that you can be trusted enough to pay back. They do that because it is one thing to have the resources to pay back and it is another thing to be willing to pay back. When you need to get funds for your idea, you mostly would be considering the people who trust you so well before looking at any other person!
You can actually use your reputation as capital to generate the real business capital that you need but the other question is, ‘do you have any reputation?’
Think on these things!
Fola Daniel Adelesi
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