Business- THE CHIEF STRATEGIST WAY!
Now that you know where the money to fund your business will come from.
To calculate if you have a enough money to start a business THE CHIEF STRATEGIST way do this:
List all possible sources of capital i.e. 1. Savings you have in- Banking accounts, retirement accounts to wind up, less taxes, investment accounts and personal assets to be sold e.g cars, landed property, jewellery, those Hermes, Channel, LV items etc.
2. Borrowing- i.e. Personal loans, bank loan, loan from family members, loan from friends, home refinanced mortgage etc.
3. Investment by Other- i.e. Friends equity investment, family member investment, silent partner investment, stock sale, VC investment.
Add up all the sources of fund you could spend without negative consequences e.g losing your(family’s) house/landed properties, car etc
Divide that amount by the amount you need to get started to give you a percentage.
Now that you have the percentage. If you are unable to start your business with 80% or more in risk capital- money yourself and investors can afford to lose. You might want to consider waiting to launch your business.
NEVER allow family members invest in a business if they can not afford to lose the investment.
THE CHIEF STRATEGIST never instructed anyone to go borrowing money. HE always provided adequate funds.
Should you for yourself decide to go the borrowing route do it with caution by careful planning and ensure to pay back.
Passing by Psalm 37:21 lounge, the signage read-
“The wicked borrow and do not repay but the righteous shows mercy and gives”
I’d see you next week BHG!
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People | Insurance | Sustainable Value
Q2, 2016 rounds up in a bit.
Have an Rewarding Week. Good morning!