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Book chapter
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Reference no. BEP8135
Chapter from: "The Rainmaker: Start-Up to Conglomerate"
Published by: Business Expert Press
Originally published in: 2019

Abstract

This chapter is excerpted from 'The Rainmaker: Start-Up to Conglomerate'. According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. Despite being shocking and true, this is mostly preventable. Many entrepreneurs cite undercapitalization at the outset of starting a business as a major reason for failure. That is truly a poor excuse - there is no need to be undercapitalized in a world where over USD1 trillion was invested in new projects in 2016 - and today almost twice that number of funds are available since crowdfunding took off. Despite the flow of international funds, many entrepreneurs have an unwillingness to see that they have poorly structured companies, no valuation, and lack of cohesive strategy. Not taking advice from independent professionals becomes the noose from which entrepreneurs hang their businesses. These are some of the more simple and basic reasons for failure. The Rainmaker is an individual who can assist entrepreneurs to succeed past that 18-month barrier by helping them structure and run a company that meets ultimate best practice solutions and systems that are realistic and competitively better than peers. The Rainmaker surrounds himself or herself with a small team of professionals to carry out necessary and pertinent corporate requirements as determined and instructed by The Rainmaker. The Rainmaker is a combination of trouble shooter, advisor, mentor, and financier.

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Abstract

This chapter is excerpted from 'The Rainmaker: Start-Up to Conglomerate'. According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. Despite being shocking and true, this is mostly preventable. Many entrepreneurs cite undercapitalization at the outset of starting a business as a major reason for failure. That is truly a poor excuse - there is no need to be undercapitalized in a world where over USD1 trillion was invested in new projects in 2016 - and today almost twice that number of funds are available since crowdfunding took off. Despite the flow of international funds, many entrepreneurs have an unwillingness to see that they have poorly structured companies, no valuation, and lack of cohesive strategy. Not taking advice from independent professionals becomes the noose from which entrepreneurs hang their businesses. These are some of the more simple and basic reasons for failure. The Rainmaker is an individual who can assist entrepreneurs to succeed past that 18-month barrier by helping them structure and run a company that meets ultimate best practice solutions and systems that are realistic and competitively better than peers. The Rainmaker surrounds himself or herself with a small team of professionals to carry out necessary and pertinent corporate requirements as determined and instructed by The Rainmaker. The Rainmaker is a combination of trouble shooter, advisor, mentor, and financier.

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