Gordon -

Excellent post, and your timing is right on as September approaches and business goes back in bloom.

I'm talking to two groups right now that want me to help raise money for them. Neither has ever tried before, and so do not understand the effort and intangibles of raising $$$. I've referred them to SOWPUB!

Your comments regarding the Biz Plan as backup to the personal contact were absolutely right. We all buy with emotion and justify with logic - same goes for investing - if people LOVE your idea, they'll go for it and justify the investment to their accountant/family/etc. using the biz plan. The plan then serves two purposes - 1. to ensure that you know what you're trying to do; and 2. to ensure that your investors feel good about 1.

> But the "Entrepreneur" or inventor
> or author didn't BELIVE it when I would call
> them up and say,

> "We don't think there is a market for
> us to present your work to."

Ain't that the truth! Few inventors understand the ruthless reality of the marketplace.

> Most were MAD, angry, upset that we didn't
> see the potential, that we didn't "get
> it", that we were so narrow minded in
> our thinking.

I got threats from one inventor who was angry because no one would invest $500,000 in his idea for a 90/10 split (the inventor getting 90% naturally for his great idea). And the inventor was in bankruptcy and REJECTED a lucrative licensing agreement for another of his inventions!

Anyway, great mini-course in raising funds and summation of the 5 P's.

BTW, my StoreRunner ventures are over - with airline travel headaches and still poor attendance, it wasn't worth the effort. So I'm back to SQUARE ONE and mapping the future!

Regards,

Bob (Relaxing and Revitalizing) Beckman