Anyone attempting to borrow capital in today’s economy is well aware of the myriad of requirements that must be completed and approved to even get a sniff of the funds.
Conventional sources such as banks, venture capitalists, financing companies and the like are so heavily scrutinized and under such stringent compliance/regulatory
restrictions that only the minimally leveraged borrowers with deep pockets of support are likely to be approved.
Move on! There is so much seed money laying around right in front of you, but it takes an unconventional, yet entertaining means of going
about the sourcing process. I came to discover quite by accident that golf courses, bowling alleys, and senior citizen centers (don’t laugh)
are rich gardens for seed money! Huh? Allow me to expound on the process. Years ago, I sated my appetite for a quick nine holes of golf one
Sunday afternoon and drove to my nearby home course. I was summoned within a few minutes of arriving and added to a three-some of retirees,
and after a brief exchange of pleasantries, we teed off. Small talk promptly ensued and I learned I was sharing personal and professional information with a retired judge,
civil attorney, and utility vice-president. Who knew? At the time, a good friend of mine and I were attempting to find $50,000 to launch a
private venture without ringing up credit cards or borrowing from friends and family. I mentioned the project to my fellow duffers as we quaffed
a couple of pints of Stone Pale Ale each in the clubhouse and participating in a game of euchre. My “quick” round of golf turned into a six hour affair
and migrated into successive gatherings over the next six weeks with two of my new friends over bowling and a couple of more euchre events. These
dudes were a hoot and I’d forgotten all about our original conversation regarding my business venture until they presented me with a check for $50,000,
with the only provision being it be paid back over the next two years at 3% interest. No collateral. No strings. Nothing! These gentleman trusted me enough
by now, and believed I had the integrity to make good on their loan, though they also told me later they’d had some law enforcement pals check my background!
And my friend and I did pay them back; every penny.
My point is, look for places and events that are easily accessible to anyone, yet are likely to also attract people of affluence. Humble yourself and prepare to invest
the time necessary to gain the trust of these seasoned citizens. Integrity is everything, be modest, and don’t even think of fabricating anything about yourself.
Have a business plan prepared and start working on your putting! Oh, and it’s a good idea to have a few cigars handy, too!