Using reputation capital to fund your business idea! │© Fola Daniel Adelesi

If there is any lesson that successful business people around the world must have learnt in all their years of business experience, it would be that when you are trusted then you can generate the funds that you never had. That can also be said in a different way using the word ‘reputation.’ We can really say that when you have reputation then it is easier to get the money you are looking for either to start the business or to expand the business. Why is this important? It is because there are those looking for some funds to push their businesses but they will not get those funds until they begin to engage reputation capital and they cannot do that if they do not have any reputation!

I have heard the stories of some elderly people in the society who truly have the resources to fund the ideas of young people but they have been let down by many of this young people because as soon as money gets into their hands the next thing they want to do is to satisfy all their personal needs and not build any business that should have been built!

It will not matter what kind of business you want to go into and what amount you are looking for if you do not have the character to win the hearts of those who want to invest in your business. There will always be the need for you to prove to the people who can give you money that you can be trusted and that their money is not going down the drain.

You should never think that it is so hard to get money for what you want to do. One thing you just must know and work hard on is that when you have reputation it will be easier to get some funding. When people trust you they can give you money and even if they do not have the money they might be able to give you some recommendations to those who have the money. I strongly believe, just as I have done it before, that you can always walk up to those who trust you for money to do business and you will get the money if those people have the money.

Some have borrowed small amounts of money and have messed up so bad with it and that’s why they will not be able to get another amount of money. It is one thing for business to go bad and it is another thing for you to collect money and just lavish it. When some people collect money like that and they spend lavishly, they usually forget that there would be another time in the future when they will need people again in order to get funds for their businesses.

Even if you go to the bank, the bank does not just give you money simply because you know the bankers! They will want to know that you really have the resources to pay back and that you can be trusted enough to pay back. They do that because it is one thing to have the resources to pay back and it is another thing to be willing to pay back. When you need to get funds for your idea, you mostly would be considering the people who trust you so well before looking at any other person!

You can actually use your reputation as capital to generate the real business capital that you need but the other question is, ‘do you have any reputation?’

Think on these things!

Fola Daniel Adelesi
fola-daniel – Skype
@foladaniel – Twitter

About the author Fola Daniel Adelesi

Fola Daniel Adelesi is a professional public speaker who also trains other speakers. He's a highly engaging training facilitator and he holds his large audience spell bound when speaking at gatherings. Apart from his several platforms which include banks, insurance companies and religious organizations where he facilitates trainings, he has been a part of some national television shows and he spoke so intelligently. He's an author, business consultant and highly skilled master of ceremony with excellent poise and diction. He was on the Debaters TV reality show season 1, he presented 'You Can' on Radio Continental in 2011 and he did motivational segments on Galaxy TV from Dec 2008 to August 2009. Fola Daniel has authored at least 5 books including ‘Writing Business Proposals,’ ‘The Mentoring father’ and ‘Get up and hit that goal.’ He talked about Social Media on - An ICT Show on Lagos Television from August 2015 to late 2016. He’s a regular guest on some national tv platforms (including Channels TV and Television Continental) and a delight to their audience. He trained as a communications professional, works as a business consultant and was also trained at Lagos Business School in collaboration with Google as a Digital Business Manager. He is the President and CEO of the Edible Pen Group.

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