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Put Your Own Skin In The Game. Robert
Redford took money he had made from one project and applied it to an entirely
new idea.
Topic for Discussion: Why is your own money
the best money?
Answer: When you put your own hard-earned
money into a new idea, you are unfettered. You don't have to explain to a
banker or investor. You can kick the idea around on your own time table and
succeed or fail. On top of that, when you invest the only money you have, you
are motivated by the human drive to survive. We have met hundreds of business
owners who risked all of their cash on an idea that they could only hope would
work.
Robert Redford was not a rich man when he
purchased the land in Provo Canyon. He was at the beginning of what has turned
out to be an extraordinary acting and directing career so we all have to turn
back the clock to fully appreciate the risk he took.
In addition to the personal motivation we get out
of using our own money, we also demonstrate to future bankers and investors
that we truly believe in the idea. This makes for perfect story telling if you
need to raise additional funds. |