The Story Behind The Story: Famous Entrepreneurs’ Success Stories – Episode 4 – Part 2
Famous entrepreneurs have historically needed to learn how to become resourceful and overcome adversity. In this segment of The Story Behind the Story: Famous Entrepreneurs’ Success Stories, business coach Clay Clark and Deedra Determan, founder of D2 Branding dive into one of the challenging aspects to starting or growing a successful company – how to fund your big idea.
In this segment, Clay Clark provides the methods of raising cash that he used to first fund his business DJ Connection, as well as some other funding mechanisms designed specifically for businesses. Sometimes simply having those few extra dollars to invest in marketing, advertising or your customer experience can be a game changer. Here are Clay Clark’s big funding methods for this segment:
1. Chamber – SBA Loans
2. Credit Cards
3. Family & Friends
4. Equity Line
5. White Guy on Construction Site (a.k.a. pick up another job)
6. Venture Capital
Two of the super moves that Clay Clark highlights in this video are using credit cards, the “white guy on construction site” method, and partnerships/family & friends to fund your business idea. With regards to getting money from family and friends or even partners, Clay Clark recommends that you only work with products or people that you would endorse.
The reason that so many famous entrepreneurs have made it to the positions they are in is due to their resourcefulness and ability to grind day in and day out. Your commitment to your why and big idea will lead to your success. To wrap up this segment, Clay uses a former college classmate as an example for what it takes to become successful in your life and business and the effort you must put into achieving your dreams.