Manage episode 236383209 series 2516289
While it is okay to fail, it’s a good idea to make sure the money side of your business is in order. How can you put your finances in order? How should you approach potential partners for your business?
On this episode, real estate investor and host of the Flip Talk podcast, Don Costa shares his secrets to success.
You have to have a mindset of control. -Don Costa
Three Things We Learned
Failure isn’t the end
Sometimes, the decisions we make in business are not the best ones. However, remember that most successful business owners have failed at some point. Sometimes things don’t work out as planned, but end up propelling you in the right direction in the long run.
Money is all around you
There is no shortage of money available. To get it, you need to be telling people about what you’re doing. Make sure people know you’re open for business. However, steer clear of asking for money. Doing this will put you at an immediate disadvantage.
Know when to say no
Don’t take any opportunity purely because someone is offering you money. Make sure all potential partners are a good fit for you. In most cases, when you’re up front about your criteria, when everything is in alignment, those same partners will jump at the opportunity to work with you.
Something that holds most business owners back is the belief that there is a shortage of money. Because of this belief, there are times when entrepreneurs will take on work they should not, or spend their time asking for money. Don’t fall into this trap. Enter all opportunities with the knowledge that you bring value to the table, and will find the right partner or investor for you.