I was doing my continuing legal credits - always a thrill as you know. For two days I'm sitting in a class filled with lawyers getting get information on the "How to Start a Business." It was very well done, and included how to find new clients; what you need to have in terms of insurance; location of the business; and the distinguishing features of a franchise..but was was DRASTICALLY missing is ....How to ASK for money!
Anyone starting a new business or counseling people on how to start a new business has to know how to ASK and there are many steps that need to be taken to make the right Ask of the right prospective investor.
Step one - PRIORTIZE who you will ASK and in what order
Step two - what is your SCRIPT to do the ASK it needs to be written and practiced
Step Three - it has to be for a Specific Amount or if it is a percentage of projected revenue...then what number is the projected revenue
I offered to teach this section in their next class on How to Start a Business because I spoke to some of my fellow lawyer attendees and light bulbs burst - gee - "didn't think about that" was the general reaction. So if you are starting a business or counseling people on starting a business, I strongly suggest you invest the time to learn How to Ask.
