Straight Talk With Dr. Woody
After 25 plus years of being personally involved, hands-on, “down in the trenches” in literally thousands of successful small business transactions now cumulatively in excess of $1 billion, certain truisms have become glaringly obvious:
* Most every small business owner/entrepreneur may know a lot about their own underlying products, services, and markets. However, the simple fact is that few have the requisite knowledge, experience, or know how in the critical areas of best business practices and most especially, the necessary financial knowledge to succeed.
* In virtually every client situation (magnified many times over by the situations which were already effectively “mission impossibles”) the wholesale deficiencies were rampant in lacking best “real world” business practices to include comprehensive detailed knowledge respecting how to successfully find and acquire needed financing at every stage, utilizing the right financial tools at the right time, and managing the proceeds from that funding successfully.
* It is a straight forward fact: In order to succeed every business venture must have timely and adequate funding and financing. Without it the enterprise trail becomes exceedingly perilous most often ending in abrupt termination. It really is not about whether, but rather about when the demise will occur – no perfect storm required!
Why not deal with some real world facts? Statistics clearly reveal that for every alleged brilliant new idea, impassioned start up, or early stage business venture (at least up to five years) that anywhere from 36% to 50% will fail depending upon industry area (e.g., pick your poison) http://isbdc.org/small-business-failure-rates-causes/; http://www.washingtonpost.com/blogs/fact-checker/wp/2014/01/27/do-9-out-of-10-new-businesses-fail-as-rand-paul-claims/; http://articles.bplans.com/the-real-data-on-small-business-failures/. Even after 5 years in operation a significant number of those survivors will also fail.
Why? There are a myriad alleged reasons and rationales offered up. However I would postulate for your consideration that when one gets right down to the core of the issue it really boils down to a lack of “reasoned ethical thinking”. Within realm of best practices respecting the art/science on “how to reason effectively” a few fundamental precepts show how and why this bias for failure continues to exist and standout:
* Inadequate and outright failures to properly plan;
It takes as much energy to wish as it does to plan.Eleanor Roosevelt
* Lack of practical experience, even the research abilities to find the necessary answers to the most obvious questions; and
A man carries a cat by the tail learns something he can learn in no other way. Mark Twain
If we knew what it was we were doing, it would not be called research, would it? Albert Einstein
* Wholesale failures in the requisite knowledge necessary to navigate the changing waters as every enterprise evolves and grows, especially within the financial realms.
An investment in knowledge pays the best interest. Benjamin Franklin
After all my years of successfully solving immediate client financial and/or operational business problems, I decided it was time to stop the nonsense. It was time to encapsulate and share a lifetime of experiences as a top of the line national litigator/appellate counsel at the highest legal levels, seasoned entrepreneur and business executive, recognized financial expert, and multi disciplined teacher, mentor, graduate level professor, and consultant into a comprehensive educational platform to effect change – for the first time ever, a practical, down in the trenches guide respecting how it works in the real world for best business practices and leveling the financial playing field for all business owners/entrepreneurs.
The obvious first question out of the gate: Will they listen? If I build it, will they come?
Best answer? That depends!
Those with a passion for routinely seeking better, more efficient pathways for personal/professional growth and profit those will readily seek every avenue for knowledge empowerment, including this one with its flashing neon lights ‘Get Empowered Now”!
Those will readily download the Book – Ultimate Financing Guide. http://www.ultimatefinancingguide.com/. So educated those will then seek to offer up even more relevant questions ready for more detailed answers, always profiting from the experiences. Those will always have better channels opened for true success.
For the rest, their odds for becoming a number within the above noted statistical failures or proverbially spending their business livelihoods treading water waiting for the “Fat Lady to Sing” will have increased exponentially in all the wrong directions. There is a well worn adage:
We are all born ignorant, but one must work hard to remain [reason challenged]. Benjamin Franklin
The intelligent and recommended option for any and all – Download and Read the Book – Ultimate Financing Guide
What cost for not having the requisite knowledge and practical insight regarding how to better steer and navigate through every financial and developmental stage for your business enterprise?
Why not go out on a limb? That’s where the fruit is. Mark Twain
A man only learns in two ways, one by reading, and the other by association with smarter people. Will Rodgers