Ask The Funding Expert

Ask Bob...

Here's a list of some specific questions from people just like you who are getting started with the business funding process. You may have the same questions, so make sure you read them all.

As a student you will have unlimited access to a dream team of business funding specialists who will be at your beck and call to help you with any challenge you may encounter in your search for capital.

If you have a specific question or concern about funding your business I will be happy to help you out. Simply email me personally or use our contact us form. We will get back to you as soon as possible.

How Much Capital Do I Need To Fund My Business?
Can I Really Fund My Business In 30 Days?
Do I Need A Business Plan?
Should I Deal With A Money Broker?
How Do I Handle Objections To My Funding Request?

NOTE: The questions and answers that appear on this website are the sole and exclusive copyrighted property of the FundMyIdeas.com website and may not be reproduced in any format whatsoever without the express written consent of Bob Ryan himself.

How Much Capital Do I Need To Fund My Business?

Not a whole lot. 41% of the INC 500 CEO's launched their business idea with $50,000 or less.

And more than a third of that 41% started their business with less than $25,000.

This years list looks very much like the lists of the past when it comes to the number of people who only started with a little seed capital.

Of course this doesn't mean if you need more than $50,000 to get started that you won't succeed.

Quite the contrary... 20% of the people on this years INC 500 list began with more than $100,000 in capital.

And the trend of the past few years has been that those who start with more capital at the beginning tend to succeed in far greater numbers than those who start with less.

So how much capital do you need to get started?

Well I can't answer that question because I don't know your situation, but I will let you in on a little secret...

It really doesn't matter whether you need $25,000... $50,000... $100,000... or 5 million dollars or more for your business.

Because once you learn a few proven techniques for raising capital... you'll see that it's just as easy to get your hands on $25,000 or $50,000 as it is to get $5 million or more.

And the best part is when you learn how to do it right you'll always have access to more capital if and when you ever need it.

Can I Really Fund My Business In 30 Days Or Less?

There is no possible way that I can guarantee you will get all the funding you need with my course, because many people who end up buying my course never even read it or apply the strategies described in it.

However, if you DO apply the strategies in the book properly, I DO guarantee you will get all of the capital you need FAST!

In fact hundreds of people who have ordered my course in the past year and have actually taken the time to apply the techniques it contains have gotten their businesses funded in 30 days or less!

And to make it easier I recently added a few components to help you out...

The How To Raise Capital In 30 Days Or Less Audio Seminar On CD -- This one hour audio seminar will show you the exact steps you need to take to get all the capital you will ever need for any business idea you could possibly think of and get it in the next 30 days or less.

30 Day Action Guide -- A FREE Written Guide with me personally laying out the exact steps you need to take each day for the next 30 days to secure the all the capital you will ever need for any business or idea.

These new additions along with all the other powerful information you learn in my main course will put you on the right path to raising capital in the shortest amount of a time as possible!

Do I Need A Business Plan?

The answer is Yes and No. For most of the methods I teach you WILL NOT need a Business Plan. For others you will.

But don’t worry if you have to write one because I’ve included a CD-Rom filled with a collection of Real Life Business Plans. Each plan in the collection has raised over $1 Million dollars for the business which it was written for. And it contains business plans from businesses ranging from wireless internet technology to farm equipment and everything in between.

All you have to do is just pick a business plan you like… enter the details about your business or idea (copy it word for word if you wish) --- and call it your own. Then just send it out to some of the contacts I give you in the Golden Rolodex and you can count on getting the capital you need FAST!

Should I Deal With A Business Funding Specialist or Business Money Broker?

Personally I don't like the idea of paying someone to get the capital needed to start a business when its really easy to find the capital on your own.

Not because I have a course available teaching people how to get business funding but because all it takes is learning a few simple techniques and you can get all the capital you'll ever need without having to pay someone else to do it for you.

I get contacted on a daily basis by many brokers and "Business Funding Specialists" who make outlandish promises about the amounts of capital they can raise for you without even asking what your business idea is about.

And most of these brokers charge a Flat Rate Fee of $2000 to $5,000 (or more) to shop your idea around... then if they happen to find any money for you -- they take a percentage of anything they get. Which can easily run into the thousands if not several thousands of dollars or more on top of their flat rate fee.

In the end the decision is yours whether you are willing to deal with a broker, but my advice to you if you decide to try one is to make sure you read the fine print carefully and watch your step.

How Do I Handle Objections To My Funding Request?

As an entrepreneur you should always expect objections when someone is considering funding your business idea. Objections can come in all shapes and sizes from your product concept, your approach, your strategies or even in your idea itself.

Do you want to know why you're not having success raising capital. There are three R’s or three things you need to understand if people walk out that door and don’t give you the money you seek.

Most people are wearing a badge that says convince me, help me make a good decision. They need and want help. They want to be confident in making the right choice. That is what a great persuader does.

***The first R is Reason***

You didn’t give them a strong reason to fund you. Maybe you didn’t generate enough interest. Or there wasn’t a need, a want, or a desire to invest in your idea from your prospect. Your prospect has their own reason why they would want to get involved with your project.

And you see this with rookie entrepreneurs all the time. The rookie gives them a laundry list of reasons why to fund your idea. Which sucks the energy out of your prospect, loses the emotion they had for your idea and usually uncovers one reason not to invest their money.

You Must Always Find The One Or Two Main Reasons
Why They Would Want To Fund Your Idea.

This reminds me of a story of tapping into someone’s reason why.

Airman Jones was assigned to the induction center, where he advised new recruits about their government benefits, especially their GI insurance. It wasn't long before Captain Smith noticed that Airman Jones was having a staggeringly high success-rate, selling insurance to nearly 100% of the recruits he advised. Rather than asking him about this, the Captain stood at the back of the room and listened to Jones' sales pitch. Jones explained the basics of GI Insurance to the new recruits, and then said, "If you are killed in a battle and have a GI Insurance, the government has to pay $200,000 to your beneficiaries. But, if you don't have a GI insurance and get killed in the battle, the government only has to pay a maximum of $6000." "Now," he concluded, "which group do YOU think they are going to send into battle first?"

The second R is Resources.

Maybe they didn’t have resources to fund your idea. Maybe they didn’t have the money; maybe they didn’t have the support or maybe they didn't have the time to fund your idea.

The third R is the Rep.

That’s you as a person. Did you not develop a trust? Did you not create rapport? Did you have the wrong type of style? Were they analytical, were they social? You could have used the wrong type of motivation. Or it could be what I call persuasion pitfall. Where you pushed a little to far or you said something where they felt like they were getting trapped into a corner. And this is the pitfall. And I know this has happened to you at sometime in your life... either as an adult or as a child.

You go into a store and someone says the wrong thing or they push a little to far and it just doesn’t feel right and you leave and never go back to that store. And that’s what could be happening to you if you’re hitting the wrong buttons. So take a look at those three things, which are critical to understand why your prospects don’t buy.

Questions You Must Have The Answers For...

What is the greatest reason someone would want to invest in your idea?

When someone says you are seeking too much capital. What is your response?

When you have a conflicting style with a potential investor. What can you do?

Conclusion

Learning how to persuade and influence will make the difference between hoping for a better income and having a better income. It is the missing puzzle piece that will crack the code to dramatically increase your income, improve your relationships, and help you get what you want, when you want, and win friends for life.

Ask yourself how much money and income you have lost because of your inability to persuade and influence. Think about it. Sure you’ve seen some success, but think of the times you couldn’t get it done.

Has there ever been a time when you did not get your point across? Were you unable to convince someone to do something? Have you reached your full potential? Are you able to motivate yourself and others to achieve more and accomplish their goals?

What about your relationships? Imagine being able to overcome objections before they happen, know what your prospect is thinking and feeling, feel more confident in your ability to persuade.

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