T. Harv Eker argues that entrepreneurs don't need their own money to start a business if they have something investors want: a strong idea, skill, patent, or intellectual property. He says there's more money looking for good ideas than good ideas looking for money.
We know that kind of money is involved in business, both inflow and outflow, and that there's certain expenditures that have to be made in business. So how do you go about. How do you go about starting a business without any money, especially your own money? Well, obviously, there's many ways. One way, of course, is to get other people to fund the business. And how do you do that? Well, if you have the idea, then you can get partners and you can get people who are investors, etc. Etc. And you know what? Most IPOs and companies that go public, the founders might start with just a little bit of their money or very little at all. I've been involved in investments where the founders put none of their own money up. But they have something. They have a formula, they have a patent, they have a something that they have. And now they just need the money. I want to let you know something when it comes to this. I am a major investor and I can tell you this. What most people don't realize and what I didn't realize when I was broke or even, you know, kind of middle in the area of money, is that there's more money looking for good ideas than good ideas looking for money. Let me say that again. There's more money out there that are just dying looking for great ideas than there is the other way around. And what does that mean? You've got to be great at whatever part you got to bring something to the table. And what you bring to the table might be skill, it might be an invention, it might be some intellectual property. Whatever it is you bring to the table, you bring that.
