Forums: Discussions for entrepreneurs and small business.

I was reading this article on applying for grants & loans and one of the sub-title was "No doesn`t mean No".  The author was quiet funny as he stated that now that he`s much older, the only time `no` means a `no` is in harrasment cases.

He shared a teenager who wanted to get some funding to start his business so he contacted this government program that gives money to teenage entrepreneurs.  He was told that the money was only for teeagers who lived in small towns but this kid was in Boston and therefore he was not eligible for it.  This young man did that stop there; he called the agency back and asked for a copy of the program literature.  After he got the literature, he read it closely and learned that it did say the money was for teens in small towns, but in a separate line it also stated that it was for teens who wanted to start lawnmower service businesses - which was exactly what he had in mind.

He called the office and pointed out that line and got the money!

When I attended one of the classes offered by SCORE, a successful restaurant owner shared that he got his loan from the 74th bank he visited!  

Easy to say than done but very soon I`ll be going around banks, investors,or some filthy rich people trying to get funding for my restaurant and I want to remember that as an entreprenur, I need to have the power and the strength to believe that I can turn a "no" to "yes" (or many `no`s to one `yes`) so my business plan will be in a 3-D form of a real restaurant.

Unless, of course, I hit the lotto - now that would be a big `YES" from God!!

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Life isn`t about finding yourself. Life is about creating yourself.

SBA provides quite a few useful information! There is also SBIC - Small Business Invesment Companies that offer loans.

http://www.sba.gov/INV/sbicforms.html

http://www.sba.gov/INV/venture.html

http://www.sba.gov/library.forms.html

I`ll post more links if I find them useful. 

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Life isn`t about finding yourself. Life is about creating yourself.

Thanks Meitzi and best of luck! This is great advice and encouragement for everyone. In the entrepreneurial realm, often all it takes is a single “yes”, however you can get there.

Such a different scenario from the corporate realm where often all it takes is a single “no” to kill a project, no matter how innovative and likely to profit the company. You can have excitement and buy-in from numerous players at many levels in the corporate hierarchy, but a single well-placed “no” will forever dash the project to the scrap heap of obscurity.

I’m guessing that’s one of the key reasons many of us are here.  

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Michael Zucker - Strategic Planning, Marketing & Communications info@zuckerconsulting.com · www.zuckerconsulting.com “Helping You Over The Hurdles – Keeping You Focused On The Finish Line”

Amen to that, Michael!!!

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Life isn`t about finding yourself. Life is about creating yourself.

Hi Meitzi,

I just joined this forum and noticed your in the same business as I.  I`m working on a business plan currently to acquire 6 hospitality establishments across 3 states.  Being in the business for over 25 years, its time for me to shoot for the moon and I`ve gotten some good feedback from potential investors.

My other side venture is to grab a restaurant and bar before it gets sold but its out of my financial loop so I`m trying to "creatively" approach the deal as to not use my funds.  I even posted the question on this site...

I wish you luck in your venture and would love to share info and collaborate.  You never know, it might turn into the beginnings of a mastermind group for our industry.

Best Regards, Jerik

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Cu Gelert - The Legend ... If you`d like to know the value of money, go and borrow some... It is especially hard to work for money that you`ve already spent, on things that you never needed... Whatever you can do, or dream you can, begin it. Boldness has genius, power, and magic in it!

Hey Meitzi,

Heres an idea, make a list of the banks that you want to visit, then turn it upside down and start with the last one, that way you will get to the "Yes" faster! lol

But really, I ran a telemarketing company and the biggest thing that we made our people to see is that people are conditioned to say no, and most say it 10-12 times before they say yes!  So you just have to keep going.

One "trick" that I learned in sales is the more times you can get a "Yes" answer to question NOT about the sale, the quicker you get a Yes in the sale.  For example if you are trying to sell a car, (yes I did that don`t hate me for it! lol) we would ask questions about the weather, the family, any thing that would get a "yes", their brain is being trained that it is ok to say yes to you, and it does work!  Just be ethical in it!

Great post!

 

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Tony Sorensen Performance Detailing www.performance-detailing.com info@performance-detailing.com tojealca@gmail.com

Jerik - I am so new to this business field, but you, as you stated yourself, are ready to shoot the moon!!!  Do keep in touch, pleaseeeee!!! I get cross-eyed every time I think about how I will get funding for the restaurant

By the way, welcome to the SuN!!!

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Life isn`t about finding yourself. Life is about creating yourself.

Tojealca - I will definitely keep this in mind!! Perhaps soon you can give us a lesson on sales - all entrepreneurs should be great in sales, isn`t that right?!

You`re so right though.  Sometimes I find rather annoyed when sales person constatly talking about what they`re selling (hard not to, I guess!) but I tend to be more friendly myself if they greet my son, ask about the school, or as you said, about the weather!

 

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Life isn`t about finding yourself. Life is about creating yourself.

Meitzi,

If you do any phone contacts for you comany, remember the 5 "p`s"

Pace: match you speed of talking to them

Pitch: Add inflection to you voice, raise and lower it

Pause: Pause from time to time to let them think about what you have said and ask a question if they have one

Punch: Ask the question, can I get the Loan?  Do you like the product, ect.

Posture: Sit up straight and SMILE.  It comes throught the phone!

Hope that helps!

Tony

 

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Tony Sorensen Performance Detailing www.performance-detailing.com info@performance-detailing.com tojealca@gmail.com

Thank you, Tony!!!

I am writing this down in my book not only for myself, but will share this with my future staff!!

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Life isn`t about finding yourself. Life is about creating yourself.