"Start with the hard questions. Why am I the right person to solve this problem? Do I really know my numbers, my market and my customer? And am I willing to eat, sleep and breathe this business when the cameras are off and no one's clapping? Too many people want to raise money just because it looks sexy. But if you can't show proof that you've tested, hustled and gotten traction - even on a small scale - you're not ready to take someone else's cash."
"Shameless plug: my book, Power of Broke, is also my philosophy. Don't think you need millions to get started. In many cases, being limited by capital is an entrepreneur's true competitive advantage. Some of the best businesses were born from taking small, affordable next steps - selling one product, testing one ad, talking to one customer."
"Your personal brand is your reputation. It's what people say about you when you leave the room. Today, people don't just buy your product - they buy into you. That doesn't mean you've got to be loud on social media or try to be someone you're not. It means you've got to stand for something. Be authentic, be consistent and tell your story. FUBU worked because it wasn't just clothes - it was me, my community, my mission."
Founders should begin by asking hard questions about fit, capability and commitment, including why they are the right person to solve the problem, whether they know their numbers, market and customer, and whether they will fully commit when public attention fades. Raising capital should follow evidence of testing, hustle and traction, even at small scale. Limited capital can be a competitive advantage; start with small, affordable steps like selling one product, testing one ad and talking to one customer. A founder's personal brand functions as reputation; authenticity, consistency and a clear mission make people buy into the founder and the business.
Read at Entrepreneur
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