Sabir x Matt Higgins Part 1
Raising Capital For Your Business Or Start-Up
You don’t always need a lot of money to launch a business. You can get there on hard work and resourcefulness alone. But that doesn’t apply to all types of businesses, and it definitely doesn’t apply to all ideas.
What if your business needs a lot of stock? What happens if your idea requires patents, trademarks, technological innovations, and staff? If you’re struggling to make ends meet, those ideas are a no-go, and that’s why investment is so important.
Matt Higgins is an expert in raising capital and he has provided some of his most valuable tips in this guide. His insights include all of the following:
- Audit Your Assumptions: One of the biggest mistakes that businesses made during 2020 was to prepare for a re-launch in the summer of 2020. The world shut down in the Spring and because none of us had lived through that before, we all expected that the lockdown would be short-lived, and things would quickly get back to normal. Businesses bought more stock and prepared to spring back, only to be hit with another lockdown and massive losses. Higgins stresses the importance of auditing your assumptions at every turn. If you’re preparing for a summer launch, ask yourself why, and look at the reasons behind those beliefs.
- Persist: One of the things that sets the failed startups apart from the successful ones is that the former persist and push through the difficult times while the latter give up. Don’t expect everything to happen at once; don’t get disheartened if you’re struggling. To persist is to prevail—it will happen eventually.
- See from the Investor’s POV: Put yourself in the investor’s shoes for a moment. Would you invest in your business? And if so, why? To you, it’s a no-brainer, as you know how passionate and committed you are, but the investor doesn’t know that. So, put your logical hat on for a moment, assess the situation, and see it from their side. It will help you to spot potential issues with your pitch and your business.
- Don’t Ask to be Rescued: Investors are not in the business of rescuing you. Unlike the Bank of Mom and Dad, their sole purpose is not to bail you out just because they like you. They care only about the business and its profitability. If you’re struggling and can’t prove your worth, they’ll invest in someone else. To an investor, there are many more fish in the sea, and you will be forgotten about minutes after you leave the meeting room.
- Use Funding Platforms: If all else fails, look into funding platforms instead. Crowdfunding sites and investment sites could be the answer you need. You may have to think a little more about your strategy and what you can offer the investors, but it’s a great way to get your business out there.
And that’s just the tip of the iceberg! There is over $1 million worth of insights here, making it an essential guide (and video) for anyone who needs capital to launch a business and get the wheels in motion.
Matt Higgins is the ultimate rags to riches story, an embodiment of the American Dream, and proof that hard work, determination, and the right mindset can achieve anything.
He spent his formative years caring for his sick mother and working any job he could find, from scraping gum off tables at McDonald’s to selling handbags at flea markets.
Despite dropping out of high school and encountering numerous challenges, including the death of his mother, he took everything in his stride, learned from his mistakes, overcame his challenges, and achieved many of his life goals.
Matt is a successful, wealthy, and extremely knowledgeable investor and business owner and I was delighted to have the chance to speak with him and uncover some valuable business insights.
#ThisWeekWithSabir Audio Experience
Part 2: Raising Capital for Your Business or Start-up: Over $1 Million in Expert Insights with Matt Higgins