Now that I have an idea
That’s close to my heart and soul
How do I get the money
To let the ball roll
He says:
There are 3 sources ofmoney
Your Money
Their money
Someone else’s money
Yourmoney is the money you have
Their money is their ownmoney
Someone else’s money issomebody’s money,
No one knows whose money.
Each kind has its own vicesand nices
Tostart a business, its best to use your own money
But make sure you don’t useall your money
Being a miser, is wiserthan anything else
Better to be a miser at thestart than to
Close your business withouta shot
Anticipate your expenses
Double it and prepareyourself
Find ways to cut your cost
And spend as less as youcan
With an open mind, you canfind ways
To pay in kind instead ofcash
To barter something insteadof paying by cash
To provide a serviceinstead of cash
The more you do this at thebeginning
The better chances you haveat finishing
Barter, Bargain & payin kind
To keep your costs down
Never offer equity at thisstage on.
The time to go looking for“Their Money”
Is when you need money tostay afloat
And to manage your cashflow
It’s better to borrow thismoney than sell equity
As it is their money,managed by themselves
He will want the most outof it and so
Will cut you a deal thatwill suit him more
Better to borrow from himthan to sell!
The time to get “Somebody’s money” is
When you have options togrow
Opportunities galore
And its cash that stops you
And it’s time to grow
Then my dear it’s time toget “somebody’s money”
Somebody’s money is managedby some-one else
To keep getting somebody’smoney
He needs to show a goodreturn
So he seeks out those who seekto grow
And fast growth is what hisheart goes!
This is the time when youdecide
If you want to keep going
If you want to take a digand move out
Go looking for greener pastures
That could be closer toyour heart
Than the one that startedit all!
When taking somebody’smoney
Never take the deal offeredto you
It’s always better tohaggle a bit
And you surely will get abetter deal
See, they are dealing notwith their own money
But somebody’s money
So negotiate they will
And offer a better deal
When you haggle with themover the deal!
Hmm, now I understand
The difference between my own money
Their money and somebody’s money
And also when to use which money
