How Much Money Do You Need To Start A Business?

by birtanpublished on September 30, 2020

I don't want you to just watch and learn
from me and not take action so I have a
question like last one year ago I came
up with a business plan I convert it to
a business model okay – six ones for
convince myself so I analyzed analyze
because I'm an economics poonam so I was
analyzing and now I'm pretty confident
that I want to take my idea to the world
I wasn't so after analyzation I came to
know that I'd record two million dollars
so I want to ask you what are the first
three step for this plan to implement
because you say 99% of the plan is to
implement yeah i 100% believed in this
video what my my thing was also so what
are the first three steps to implement
the plan I'll give you related to the
education okay so I invest in
entrepreneurs through my company
dialogue ventures we found up to a
million dollars now so we often I can
tell you this the entrepreneurs come to
me and they say dad I need a million
bucks I don't know why this but it's
always a million bucks okay they just
ponies IDL thin here and then when I
really sit down with them and I would
say okay you say a million bucks we're
going to spend there on and the other
time we're gonna spend it on but then
when I challenged them I say you don't
need a million part with the million
bucks you actually need like 50k to
develop the Minimum Viable Product to
get it out there because if the 50k
doesn't work the two million doesn't
work either right its development
Minimum Viable Product and then to get
at the marketplace to get feedback
because whatever you think this product
is you know you're going to go through
version two three four five not from
your own research from the marketplace
the feedback loop from the marketplace
now you improve it while you're selling
it so I like to challenge any
entrepreneurs how can you make sure the
idea is self-funded
that you skate out there you're getting
some money coming in you improve it you
get to get out there get out get in get
that going not just I'm gonna throw a
couple million bucks into it and see how
it works I come to you
yo and you're ready to convince yeah I'm
pretty confident that I can convince you
form a business plan yeah what is the
quantum of degree that I wanna explain I
have this big planet it requires three
minutes so what do you think has an
entrepreneur when I reach two
fundraisers what quantum of the plan
should i express them today
express them in total hours today
express them in 50% oh until they
actually so how's it sound it actually
happening in this world no you got a
pitch in the whole thing all the thing
or everything the first of all get them
to sign an NDA it helps but it helps a
little bit non-disclosure then second
when you pitch to them whole thing but
then you don't need to okay if you need
a worry about if they steal your idea
yeah to implement then their to me your
IP is no good because your deal should
be good enough that they cannot do it
without you
there's certain aspects that you know I
give you the idea doesn't doesn't
because you don't have this piece that I
know you don't have this tech that I
have there's something that you control
they cannot do without you if you can
pitch to somebody and they can copy in
two minutes then why does they tell you
what the hell is it to up to two years
right you need to have some aspects of
control then you can share all you want
hey here's my idea you pitch enough and
some would say hey that's a crazy idea
but I like it I'm not gonna give you a
million bucks but I'm gonna give you 50
K see what you can do that's what about

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