What a Billionaire Taught Me About Great Businesses
June 29th, 2008 by admin
I found a post from the Freshly Tilled Ideas blog that’s a few years old. Still, the advice is timeless. The blog author dealt with a wealthy investor who mentored him and helped keep the business on track by asking a series of questions. The blog post linked below has more information regarding each point, but here’s a quick cheat sheet:
1. Who will be involved?
2. Is this a people thing or an idea thing?
3. Are they the same people that will ultimately run the company?
4. How much money will you need before you make a profit?
5. Do you really need a chief financial officer or can you get away with a good accountant?
6. Can you raise your capital from somewhere other than venture capitalists?
7. How can this business be scaled?
8. What’s the difference between a hobby and a business?
9. Are you wetting your bed and or are you facing facts?
10. Do you have an exit strategy?
Source:
http://freshtilledsoil.typepad.com/fresh_tilled_ideas/2004/10/what_a_billiona.html
- Posted in Uncategorized
