We Need Money to Make Money

Ambition Makes Money

ambition makes moneyWhen we consider what qualities define who we are, we often think of ambition. The most ambitious of us do anyway, because we believe that ambition is one of the key differences that will allow us to become the cream of the crop. We are full of plans and ideas that will one day make that drastic leap from paper to reality. What we have begun to learn though after years of pondering is that for this transition from paper to reality to happen often requires a lot more than ambition alone.

Finding a Ladder to Success

No, I am not talking about pyramid schemes; just the thought makes me angry. I am talking about the skills that as an entrepreneur you need to learn if you plan to be anything other than a dreamer. An entrepreneur needs to be a number of things:

  • You need to be a market researcher so you can understand what your business can do for the environment and what the environment can do for you;
  • No one wants to, but you have to become a salesman and gain the ability required to pitch your ideas correctly to a multitude of different types of people;
  • As a businessman, it is required to understand basic law so that you understand all the rules and regulations required to run your business legally;
  • You have to become adept at advertising because it is imperative to understand how to advertise your business efficiently (a lot of businesses fail because they spend too much money on advertising);
  • Amongst all others things, an entrepreneur needs to be patient. Rome wasn´t built in a day.

Maintaining Optimism

Before we can talk about any other requirement on the ladder to success, we have to consider the fact that without optimism your plans and ideas will die in the water. Granted, it is difficult to be optimistic all of the time, but for those times when we aren’t too busy trying to crack a conundrum, optimism will keep your dream alive.

There will be many times when a problem will materialize out of thin air and bring you down. It is important to know that there will be problems and part of being a successful businessman is having the ability to overcome these problems with a good dose of optimism and persistence.

Ways to Raise Capital

I have been in the situation many times before when I have come across an excellent idea that will not only succeed, but is of great interest to me. If you can land a business like that, you are set for life. The problem is some of these business ideas may require anything from $50,000 to $2,000,000 to really get the ball rolling. I don’t know about you, but I haven’t got that kind of money yet. With credit checks being a problem and the fact that not everyone has a house that they can lend on, it is difficult to get a loan. There are at least two more options available to make money apart from getting a loan: solicit venture capital or start a smaller business.

How Should You Start?

Using an investor can have its advantages and disadvantages. You definitely need to have a solid business plan that will serve to portray your ideas well and let the investor understand that you know what you are talking about. An advantage to having an investor on your side is that they can bring in a wealth of knowledge and experience along with the much needed cash injection. A disadvantage is that they will own a percentage of your excellent idea.

For those occasions when an investor is not the way to go, a lot of people decide to create small businesses that costs next to nothing to start up, which eventually accumulate enough income to help fuel a larger idea. This would be the ideal solution if you have the imaginative power to create such an enterprise.

What This All Means

What it truly means to be ambitious is to want to step above the crowd and excel on your chosen path. Just remember that this can be a burden as well as a gift. A lot of the time, you need money to be able to make money. This is a point that brings down a lot of people who otherwise would make excellent businessmen. Just keep in mind that there are many ways available to turn your idea into an income and if you truly put your genius into it, one day you will succeed.

(Photo Credit: http://www.flickr.com/photos/eddieicon/ / CC BY-ND 2.0)

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