Download Cold Hard Truth: On Business, Money & Life by Kevin O'Leary PDF

By Kevin O'Leary

Kevin O’Leary stocks important secrets and techniques on entrepreneurship, company, funds and life.
Can you are making thousands simply by “visualizing your self rich” as a few enterprise prophets recommend? Don’t purchase it, says Kevin O’Leary. so as to be a winning entrepreneur and amass wealth, you’re going to need to paintings for it. however the excellent news is: with the appropriate counsel, concentration and perseverance, you could flip entrepreneurial imaginative and prescient into profitable truth and feature the non-public freedom that simply wealth can buy.  

Kevin O’Leary might understand. The much-feared and respected Dragon at the immensely well known exhibit Dragons’ Den (and Shark Tank within the united states) all started his corporation in his basement with a $10,000 mortgage from his financially savvy mom. many years later, Kevin offered that corporation for greater than 4 billion money. during this compelling, candid and, primarily else, brutally sincere company memoir, Kevin presents attractive, sensible recommendation and classes that might provide a person a different aggressive edge.

From the Hardcover edition.

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Needed a cash infusion for his two-year-old online vendor business but had few places left to turn. He had already exhausted his savings, stretched out credit lines and dug into home equity. Traditional banks didn’t think he had enough of a track record for a loan, and professional investors (angels and venture capitalists) either demanded too much control or wanted to see more revenues. Fortunately, Wisnefski had one last source to tap: Dad. com, to the next level. Best of all, the “loan” was payable whenever he could pay it back.

Sitting down, writing a plan, thinking about everything you bring to the table (whether that’s a passion for cupcakes or an enthusiasm for medical software) and considering everything you’re lacking (whether that’s salesmanship or computer skills) can give you a realistic snapshot of your odds of success. Your goal should be to focus on your strengths and fix any problems that could hamper your growth. INFORMAL VS. FORMAL Typically, an entrepreneur who’s seeking investors, lenders or partners will need to devote the most time and energy to writing a formal business plan.

OOPS, WE FORGOT ABOUT THAT Why do small business owners underestimate how much they’ll need? Inexperience plays a large role. Natalka Burian and Betsy Nadel, who started Hanger Bar and Boutique in Manhattan’s East Village in 2004 at the youthful ages of twenty-two and twenty-three, say they simply forgot to factor in ongoing or “carrying” costs—money needed to maintain inventory, rent, utilities, taxes and other expenses. Keep in mind that you might not have sales right away, so you’ll need a reserve to keep the business afloat in the initial start-up phase.

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