Funding Your Business Journey: From Dreams to Reality
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Chapter 1: From Aspirations to Action
If you’re chuckling, hold it in. My son Doug aspired to launch a baseball card venture with a mere $100 in 1983. He did pursue that dream, but he borrowed the funds from me instead of saving up.
My entrepreneurial journey began at the age of seven. Observing that many individuals had dull shoes, I remembered my father’s lesson on shoe shining from when I was five. Back then, few people opted for sneakers.
I gathered all the essentials: polish, brushes, cloths, and a stylish kit for customers to rest their feet on while I worked. The total investment for my first shoe shine kit was $9.49 plus tax.
Mirroring my son’s approach, I turned to my dad for a loan. Each shine could earn me a quarter plus tips. He responded, "This is an opportunity for me to teach you that money doesn’t just appear." I replied, “I’m aware of that; that’s why I came to you.” He chuckled and insisted that I needed to earn it. Determined, I found two paper routes. Within two months, I had saved enough to start my business.
Once I had my equipment, I approached two barbershops, offering to sweep floors in exchange for a spot to shine shoes. To my surprise, both agreed. I scheduled my visits on different days—one on weekends and the other during the week. Eventually, I managed to rotate my time, keeping both shops satisfied.
I earned four times the income from my paper routes, without the early morning wake-up calls. I sold each route for $10 and $12.00 respectively, a practice that was frowned upon, so let’s keep that between us.
Funding: Returning to the Core Topic
We’ve discussed borrowing, saving, and leveraging, and I bet you didn’t realize how interconnected these concepts are.
Whether you’re examining a $9.49 investment or embarking on a casualty underwriting venture worth $5.3 million, the underlying principles remain consistent, even if the scale differs.
One significant project we undertook involved developing an airport for air cargo transport. We sought funding from private banks, public institutions, the local government, and the stock market to explore various financing options for this large-scale initiative. More details on this will follow in my next discussion on Funding.
Thank you for reading!
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©DR Rawson
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Chapter 2: Visual Insights on Funding Your Business
In this section, we explore the importance of visual storytelling in understanding funding.
Video Title: The Journey Onward, by Michael Kamuf – Score & Sound
Discover how scoring can enhance the narrative of your business journey.
Video Title: “Journey Onward” featuring Annie Collins
Learn how visual elements can inspire and inform your entrepreneurial path.