Larkland Morley’s Professional Blog

I had a shock tonight when I ran into a study that says that most times business plans are no use to getting funding from venture capitalist. Wow, this is earth shattering.

Why is this the case? It seem from what the study is saying that knowing the funders actually helps more with ultimately getting funding.

Here is what I summarize from this.

1. Focus on networking to launch your new business. Find out where VCs hang out and make effort to meet them and make bounds.

2. Still do your business plan as that would help you organize your business and convince you that the end game will be good. The exercise is necessary to have a viable business anyway.

You can read more about the study here.

This will be a short blog post but had to mention since I ran into this great article on one of those high flying guys that have fallen. He made the right choice and humbled himself and I am sure it will be a change for the better for him.

Humility can go with confidence actually, it does not mean you have to be cocky to be confident either. Most times it means understanding any given situation, get the facts and present your honest opinion. How many times you deal with people that presents an opinion that’s wrong which they know but will not back down? This is where humility comes in.

Here is the article again – Enjoy

Traditional thinking would have us think that having a job working for someone is the basic essential of life itself. As we have seen in the last few years this model is changing rapidly especially in North America. Don’t get me wrong, you can work for someone and enjoy life to the fullest but there are ways to approach that scenario to make it more fulfilling too.

There are several ways to have a business. One way is to invest such as buying stock or a little more active such as participate in the strategy and significant part of the funding. The other option is to actively run a business and this can have different models to consider. Case in point is that you could be the Chairman making major strategy decisions while getting others to execute or it could be the case where you are a one man show.

In the investor type business approach, you could keep your regular job for the fun of it or you could now do some other activities while your investment continues to grow with the company.

I am planning to provide as much research as I can on the business building side of things and I have developed a new blog to cover most of this called the Business Start-up Guide Blog.

It could be much easier to start a business than you may think. For example if you are a technical professional, you could incorporate a company for $220 or more then seek technical contracts in the company name (lots of tax advantages). As things grow you could get others to help under contract while you look at more long term strategies. I will cover some of these scenarios in the blog.

One of the most sticky point is financing. I have a cool idea of how to get very good financing for your business through your company. Can’t wait to share that and I am testing it out as we speak.

Until next time…