First of all, do you really need Financial Capital?
Did you know that Financial Capital is NOT the end all be all in starting a business? Yes, oh yes, don’t get me wrong it is definitely helpful. It is also welcomed at every turn (hint, hint). Why just now, in writing this article, another idea is churning in my head. How can I get started on it? A Virtual Assistant would be great, but that costs money. Ok, how about the great software that I need to implement some of the other ideas, umm that also costs money. Need I say more? Probably not, you get the idea.
Scratch the record here, please! Let’s not put all of our eggs in the Financial Capital basket. Do you remember all of the heart-wrenching, inspirational, and movie-worthy stories by those who DID NOT let financial capital stand in the way of their start? And most of all of their growth? Well, Patrick Bet-David shares 9 Forms of Capital, 8 of which we often overlook. Consequently, we may be limiting ourselves, hence limiting our ideas and implementation. Since there are several other ways to leverage capital we may be able to get things moving more quickly.
What forms of capital are you overlooking?
Perhaps you can find partnerships with those that have other forms of capital? Perhaps a family member that wants to be a silent partner? The sky is the limit. Seems like there is more capital on the table than we realized.
We do know Financial Capital is usually at the forefront. However, there are other forms of capital that Patrick points out that we may have not considered.
Take a closer look at some of them…