Would you rather receive $1,000,000 upfront or 1 penny doubled each day for 30 days?
Most of us would take the cool million today; few would give the penny much thought.
Immediate gratification is hard wired into us all to some level.Â
The eyes see the 0’s after the 1 and it’s hard not to take that deal.
Business is no different; many models are built to be transactional in nature; primarily driven by markups and volume (for products) and commissions and fees (for services).
Indeed, transactions bring in cash, cash pays bills today, keeps the lights on and the business humming; anything left over at the end of each month/quarter/year (after taxes) becomes profit.
Business is good as long as new sales keep coming in each month to cover the overhead.
When things slow down (as they inevitably do) business gets harder; cash gets tight and eventually tough decisions need to be made.
We’ve all heard the saying “Cash is King” - I would offer a slightly different version - CashFLOW is King.
See, it’s my experience that cash itself doesn’t solve long-term issues.Â
Quite the contrary actually, a lot of cash can mask problems for as long as it’s freely available.
The difference between “cash / cashflow is king” is subtle in wording but very important in application.
One states that you have enough cash on hand to handle your expenses for a certain period of time.Â
The other speaks to the amount of cash coming in and heading out each month.
Steady, predictable cash flow can help you ride out most anything the economy/competitors/regulations (you name it) throw your way.Â
Take for example the recent downtown in oil prices; nearly all businesses felt the impact. However, many of the small and mid sized companies that have existing ongoing service, maintenance or value add divisions are generally fairing better.Â
Don’t get me wrong - There’s been a fair bit of hurt across the map as budgets were slashed across the board and nearly everyone had to lean out their operations. That said, many of those companies that provide ongoing essential services are still pulling through.
Personally I’ve always had an obsession with cash flow focused businesses.
You should too.
If you sell a product – can you add a service plan/warranty plan/upgrade plan to your offering and create a long-term value add proposition after the initial sale?
If you sell a service – can you reposition yourself to become an ongoing provider to your clients? Can you bundle your service as a monthly plan?
Imagine if you could take even 30% of the revenue you generate right now and you could ensure that it came in every month for the next X years?
How great would it feel to know that by 8am each morning that all your overhead for the day is already covered?
How would it change your approach and outlook to your business?Â
Would you have more time to focus on actually building the business or spend more time with those you love?
Remember that penny?Â
After 30 days of focused effort it becomes $5,368,709.12
To Your Success,
Marcin Drozdz
Marcin Drozdz is the Managing Director of GoFund Capital Partners. An entrepreneur at heart Marcin began his professional career rising through the ranks in the private capital markets in Canada. Marcin has since co-founded several companies including a limited partnership focused on commercial real estate acquisitions. Marcin now primarily works with professionals and business owners that are looking for capital or strategic solutions to fund their growth or exit.
For more content you can follow Marcin on twitter @ mdrozdz or visit www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
Several years ago I attended a seminar where the instructor placed an over-sized jar on the table.
Next to the jar lay a few large rocks, several smaller stones and a bag of sand.
He went on to say that the large jar represents each us of and our capacity (time, energy etc).
The few large rocks were to represent activities, events and the people most important to us.
The stones represent the matters, activities and people important to us.
And finally, the bag of sand was to represent everything else.
The instructor then asked us to take a few minutes and think about what we would classify as big rocks, stones and sand in our lives.
It was a profound exercise.
I went deep into my mind and thought about what my big rocks were.
Naturally for me thoughts of family, close friends, health and professional accomplishment came to mind.Â
Also, at the time I wanted to complete an Ironman, start another venture, help my friends with their business and begin a charitable initiative. There were so many big rocks.
As if on cue the instructor began again… how many big rocks can fit in the jar?
“Not many”…I thought privately to myself…”just a few”.
Next came the stones…
Receding back into my thoughts again I began to realize that some of the things I thought were originally big rocks were actually stones and didn’t absolutely need to fit in the jar…it’d be great if they did but they didn’t absolutely need to be there.
Finally, the sand…
After placing several stones on top of the big rocks in the jar; the instructor poured the sand in. It filled in all the nooks and crannies until the jar was spilling at the top.
Nothing else could fit.
He had everyone’s undivided attention. I could hear the room thinking.
Placing the near empty bag down on the table the instructor asked us to think about what other activities we do in a day/month/year that don’t support our big rocks and stones.
Personally, I thought about some of obvious things I did in a day that didn’t support my big rocks (AKA distractions).
After what seemed like several minutes of silence, with everyone still deep in thought, staring at the jar full of sand;
The instructor finished stating that most people don’t truly know what their big rocks are and instead fill their days with sand.
I went home that day with a completely different perspective on my priorities.
Today, whenever I feel like I have too much on the go (happens often in the world of an entrepreneur) I think about the jar.Â
Am I filling it with mainly big rocks, stones or sand?
To Your Success,
Marcin Drozdz
Marcin Drozdz is the Managing Director of GoFund Capital Partners. An entrepreneur at heart Marcin began his professional career rising through the ranks in the private capital markets in Canada. Marcin has since co-founded several companies including a limited partnership focused on commercial real estate acquisitions. Marcin now primarily works with professionals and business owners that are looking for capital or strategic solutions to fund their growth or exit.
For more content you can follow Marcin on twitter @ mdrozdz or visit www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
Whether you like professional football (American) or not, chances are very good that you know what the Superbowl is.Â
The first one was held back in 1967 in Los Angeles California, pegging the Green Bay Packers against the Kansas City Chiefs.Â
Nowadays this event attracts an estimated 184 million viewers spending more than 14 billion dollars on food, drink and athletic wear etc. according to The Oregonian.
The Superbowl is also well known to be one of the most expensive pieces of real estate, both as an attendee and as an advertiser.Â
According to Forbes magazine, the going rate on a single 60 second spot will set you back a cool 8 million dollars.Â
Ouch…  Amidst all the tailgating, all you can eat ribs and beer flavored everything you must stand back and appreciate what the league does to market this event and command such a price tag.
There was a study done by the Wallstreet Journal a few years ago that tracked the amount of “game action” in a typical 3-hour game.Â
The results were shocking.Â
On average, 67minutes were dedicated to shots of players standing around, 63 minutes’ worth of commercials, 35 minutes of video of the coaches, crowds and cheerleaders, 15 minutes of replays and only 11 minutes of “game action”.Â
See unlike hockey where the game continues until the whistle blows, football consists of a series of strategic plays and downs where the clock continues to run while everyone prepares for the next play.
So how do you keep millions of people engaged for 180 minutes with 11 minutes of actual “content”?
They sell stories
In my opinion, very few organizations or businesses do it as well as the NFL.Â
The secret to keeping fans engaged and loyal is to have them feel personally invested in their team and its players.Â
During a 180 minute broadcast, you’ll likely see motivating human interest story of the young running back who grew up in an impoverished neighborhood with only his mother.Â
You’ll learn about how some of the players volunteer their time with local kids’ charities to bring awareness to the cause.Â
Best of all, you will see the teams and players portrayed as positive role models and pillars in the communities they live in.Â
All of this creates a powerful bond that fans (customers) buy into.
How can you use stories to build your business?
They create rivalries
Weeks leading up to the Superbowl favourites are picked, statistics analyzed, pinned up against each other and are feverishly debated.Â
Who’s got the better quarterback? Seattle or the Patriots? How will Tom Brady fair against the Seahawks defense?Â
The sports network commentators are some of the best marketers in the business.Â
They create conversations that fans want to get involved in.Â
Will the Seahawks be able to win their second Superbowl in a row under the young Wilson or will the more experienced Patriots General prevail? Â
Every good sports promoter knows that the better they sell the battle; the more tensions build and more fans will watch to see what happens next.
What product types or services represent your rivals and how can you differentiate yourself based on your strengths?
They tie it all to a goal
Every team knows what the goal is even before they hit spring training camp; win the Superbowl.Â
Every training session, strategy meeting and game all center around making it to the final.Â
The post-game press conferences, the Pro Bowl and playoff run all serve as ongoing reminders what the goal is.Â
Each story and conflict throughout the season all tie back to how it’ll impact so and so’s ability to work towards/play in the Superbowl.Â
From a marketing perspective, the fans are peppered with messages through the year that build up their expectations and inspire them to take action.
What is your goal for your prospects and clients? How can you communicate it consistently throughout the year?
The NFL has done an incredible job building its brand loyalty over near half a century, it’s brought hope and opportunity to many both directly and as ripple effect throughout North America.Â
Although your aspirations may not be to build a multi-billion dollar empire, the above points can certainly help you take your business where you want it to go.
 To Your Success,
Marcin Drozdz
 Marcin Drozdz is the Managing Director of GoFund Capital Partners. An entrepreneur at heart Marcin began his professional career rising through the ranks in the private capital markets in Canada. Marcin has since co-founded several companies including a limited partnership focused on commercial real estate acquisitions. Marcin now primarily works with professionals and business owners that are looking for capital or strategic solutions to fund their growth or exit.Â
For more content you can follow Marcin on twitter @ mdrozdz or visit www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
Preseason starts in February and goes until the snow melts (here in Canada anyways).Â
The regular season then starts each April and 162 games later, it comes to an end.Â
Postseason, AKA the world series run (not including the wild card match) starts late September and can add another 20 games.
Approximately half those games are played as “visitors” in far flung places across Canada and the US.
That is an incredible amount of time to spend in transit, in different hotel rooms and away from friends and family.
On the field itself the average player makes approximately 600 “plate appearances” per year (these are opportunities to hit).
The average pitcher throws upwards of 3000 pitches per season (many clocking in at 90+ MPH).
To top it all off the players log countless hours training and perfecting their craft between all the travel and games.
…So how do they stay motivated and energized, season after season?
They celebrate the little things.
Each hit, each run and each and every win. If you’ve ever watched a game you know what I’m talking about.
It’s a long road and they keep the fire going by celebrating the moments along the way.
I can’t think of a better example than the Toronto Blue Jays (Canada’s Team – I am very biased). They grinded it out all year and literally clawed their way into the 2016 post season.
If you watch any of the games (especially post season) you’ll see the team (and most definitely the loyal fans) cheer and celebrate at every opportunity.
Jose Bautista’s famous “bat flip” home run last season is a perfect example.
Now, you’re not likely to carry a bat to work so the point of this article is this;
Look at your goals (business OR personal) as a series of steps. Identify the “hits” and “points” that you feel need to be tracked and take the time to celebrate each time you get a “hit”.
You need to stand back, be proud and celebrate your success. (Proceed with caution if you intend to perform a bat flip in the office)
Long-term, celebrating will give you the fuel you need to sustain and endure the tough times.
Remember, unlike baseball, your entrepreneurial “season” goes far beyond April to October.
To your success,
Marcin Drozdz
Marcin Drozdz is the Managing Director of GoFund Capital Partners. An entrepreneur at heart Marcin began his professional career rising through the ranks in the private capital markets in Canada. Marcin has since co-founded several companies including a limited partnership focused on commercial real estate acquisitions. Marcin now primarily works with professionals and business owners that are looking for capital or strategic solutions to fund their growth or exit.
For more content you can follow Marcin on twitter @ mdrozdz or visitwww.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
Nearly 15 years ago I read a story in one of my favourite business authors books (Robert Kiyosaki) that had a profound impact on me.Â
It was story that was passed on to him early in his career and I’d never forgot it since discovering it myself.
It was about a growing village with no water anywhere nearby.
It bid out the water rights in an attempt to create a steady supply; 2 men volunteered and in the spirit of competition the town awarded them both a contract.
The first man quickly rushed out and bought two buckets and began the long walk back and forth from the nearest lake.Â
He started earning money right away and the demand for his water was high. As business boomed, the first man had to hire several people to help carry buckets to keep up.
The second man disappeared for months and most people, including the man with the bucket business thought he was gone for good.Â
The water supply from the buckets was inconsistent and sometimes came with some dirt in it but all in all the village people appreciated that it was there.
One day, the second man returned with a team of engineers and builders and announced his intentions to build a pipeline system that he promised would make water more affordable, cleaner and readily available.Â
The people cheered and anxiously awaited the completion of the pipeline system.
Upon hearing this news, the first man invested in buckets with lids,
slashed his prices, lowered wages and demanded that each worker carry 4 buckets instead of 2. His employees didn’t take to well to the wage cuts, harder working conditions and quickly unionized. Along with refusing to allow the wage cut, they demanded that they only be required to carry 1 bucket per trip rather than the 2 they were already accused to carrying.
The day finally came, the pipeline system opened and began delivering cleaner, cheaper water that was available on demand.
The first man eventually went out of business receiving very little for the value of his company; few were interested in buying his used buckets. The second man however, began to travel the world applying his pipeline technology to other towns with similar issues.
When I first read this story nearly 15 years ago I thought I understood the analogy but it wasn’t until I built my first few “bucket” businesses that I began to fully appreciate the lesson behind this wise tale.
It’s been my experience that it’s much easier to carry buckets and create revenue today, that’s why most do exactly that. It’s incredibly more difficult (and risky) to build a pipeline once that works and benefit for years to come.
Whether you’re looking to access capital to grow your enterprise or position your business for sale – remember pipelines are worth far more than buckets.
To your success,
Marcin Drozdz
Marcin Drozdz is the Managing Director of GoFund Capital Partners. An entrepreneur at heart Marcin began his professional career rising through the ranks in the private capital markets in Canada. Marcin has since co-founded several companies including a limited partnership focused on commercial real estate acquisitions. Marcin now primarily works with professionals and business owners that are looking for capital or strategic solutions to fund their growth or exit.
For more content you can follow Marcin on twitter @ mdrozdz or visitwww.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
100 calls meant 10 people would show up to the presentation.
For every 10 people that showed up 3 were interested in a meeting.
For every 3 interested, 2 met with me; 1 became a client.
25,000 calls +
100’s of events +
Over 500 meetings + (in every type of coffee shop, diner, hotel you can imagine.)
= 250 clients
There is no secret to success. Just the grind.
The grind has always shown me what I need to learn by actually “doing” and “testing” assumptions.
It’s still the best teacher I know.
It provides instant, honest feedback.
It hones your skill set, forces focus and instills discipline.
Granted, your grind (activity) might be different but 1 thing remains constant.
Grind = Results
To your success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visit  www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
Several years ago a partner and I started a business.Â
We started on a simple premise; we would buy homes that needed some TLC in blue collar neighborhoods, fix them up and put them into a “rent to own” program.
An “RTO” program allows people with bad credit or no credit to move into a home they want to own, start/restart building their credit while a portion of the rent they pay goes toward a future down payment.
It was a simple business.Â
We partnered with several investors, found some humble office space and put together a motley crew of contractors. We started with a few homes and steadily grew the business.
Meetings at the office were easy to follow, clear and concise.Â
Things were really happening.
Less than a year into it however we thought to ourselves…look at all this other business that we’re helping create as a result of the RTO program.Â
There was mortgage business, debt consolidation, property management and even construction business.
“Delusions of grandeur” set in and we began to deviate.
At the time that our core business really started taking off (and needing us most) my partner and I began taking meetings with people that worked in all those other areas we were now interested in.
Within weeks our core business began to grind to halt. In our quest to expand we stopped doing the things that made the business a success in the first place.
Our attention had shifted and as a result our weekly meetings quickly filled with confusion and tension, uneasy and unsure staff and reports of contractors gone MIA (likely looking for more steady work).
At the height of it all our original business model (which was quite profitable) mushroomed into several other areas that all seemed to make sense on paper.
It didn’t.
Each new addition drained significant cash and precious time from what actually worked.
We zapped the momentum we fought so hard to create because we lost sight of where we were going.
Had we stuck to our knitting that original business would have very likely carried on.
Instead, because we created so much confusion (both internally and externally) we decided to unceremoniously wind the business down, pay back our investors and ensure the people that came along for the journey were taken care of.
Starting a business from scratch is incredibly hard work.Â
It takes am enormous amount of time and energy to build an identity and the necessary momentum to sustain you.
As you continue to grow and cast a wider shadow, laser like focus becomes even more crucial.Â
This is a lesson that I’ve personally applied to every business I’ve partnered with since.
To your success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visit  www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
Just shortly after turning 21 I applied to volunteer at a weekend seminar. It was the 2000’s and the US real estate market was on fire. Donald Trump wasn’t running for President yet; he was busy firing people on TV and doing keynotes at a series of “Learning Annex” events.
The latest event at the time estimated over 50,000 tickets sold with Trump and several other accomplished entrepreneurs scheduled to make an appearance. This event was going to be “HUGE” and I had to be there.
At that time in my life I was finishing up college and speculating on smaller investment properties. In my spare time I would attend local seminars on anything to do with business.Â
Local chambers of commerce breakfasts, evening mixers, there was even a period there were I learnt about nearly every MLM opportunity in Canada it seems. It didn’t matter. It was the only way I knew of to meet people and grow.
Granted I did learn a fair bit through those experiences (particularly on how not to do business) however I was beginning to grow frustrated.Â
All anyone wanted to do was sell me something, there would be no ongoing learning or mentorship.
I wasn’t interested in just peddling a product to make a few bucks. Instinctively, my goal was to surround myself with like-minded people that I could grow with.Â
After a few more failed seminars I began to look elsewhere.Â
The opportunity came to volunteer for Robert Kiyosaki ( Author of Rich Dad Poor Dad ) at an upcoming Learning Annex in Chicago. I was in.
I convinced a few friends to make the trip with me. Â
We split the costs and they went site seeing while I worked the booth. I spent nearly 18 hours between the 2 days meeting a wide variety of people.
When things died down at the booth I was able to connect with some of the real estate and business experts there. They took the time to speak candidly with me because I was a volunteer, there to serve them.
Each of them were willing to discuss their area of expertise openly.
When I asked about something they we’rent familiar with they were quick to point to someone who was the pro in that area. Â
I realized right then and there what separated really successful entrepreneurs from everyone else.Â
They knew what they knew and they sought out smart and experienced people they could trust to partner with on everything else.
On the drive home I reflected on the days past and chuckled. I thought to myself “ I just drove over 1000 miles to rub shoulders with people for a few minutes at a time”.
Yes I did... and I would do it again. That one weekend was worth every mile. My experiences over those few days reinforced my instincts.
I came home refreshed, re-energized and refocused on finding my team.
To your success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visit  www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
Early in my career I was extremely eager to please and would go to almost any extent for a potential client.
Drive out several hours to meet? Absolutely.
Invest entire evenings to assemble very specific information only relevant to them? No problem.
Re-explain a concept half a dozen times every time we met? Most definitely.
It worked. Most of the time.
Quite quickly however I realized that not all of the people/prospects I encountered were being straight with me…shocker I know.
I remember one gentlemen I was prospecting for quite a while invited me to visit with him after months of back and forth on my proposal.Â
He lived out of town but encouraged me to visit because he was finally ready to discuss business.Â
I should have clarified what he meant before I drove out there as it turned out that all that time he was humoring my proposal in hopes of recruiting me for something else.
Another gentleman I met at a social event once called me for a meeting. He was more upfront about his intentions.Â
He began by telling me that he wanted to get into “so and so” business and he wanted to meet with me to pick my brain on how to do it.Â
He was honest and respectful so I agreed to have a coffee with him and perhaps nudge him in the right direction to help him along.Â
We met and he stayed in touch. After a while he began to call frequently and lean quite heavily on me.Â
I didn’t appreciate the expectations that he had developed (of me) and the general one-sided dynamic of the “relationship”. Â
Given the volume of his requests I asked him to clarify what kind of “business relationship” he believed we were in.Â
He paused and then offered to hire me as a business advisor. Strangely enough though, he never called me again.
Looking back it’s become quite obvious to me that people treat you the way you expect to be treated and if you don’t value your time and capacity – few will.
Nowadays it’s rare that a time vampire sneaks into our circle and I attribute that to the following:
Be clear on what you want to accomplish each day/week/month – Activities or other people’s agendas that don’t tie in will naturally fall of.
Create an action oriented culture – Everything you’re working on needs to lead to an outcome, create value and bring you closer to your goals.
Consistently communicate your intentions to everyone in your circle –  You will continue to attract people and resources that buy in.
Follow this formula and you too can eliminate the time vampires in your world.
“Would you tell me, please, which way I ought to go from here?"
"That depends a good deal on where you want to get to."
"I don't much care where –"
"Then it doesn't matter which way you go.”Â
― Lewis Carroll, Alice in Wonderland
To your success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visit  www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
A few weeks ago I needed to take my car in for service.Â
I called the dealership that I'd been going to for quite a while to make an appointment.
The gentlemen on the other end of the phone was great at giving me all of the reasons why they couldn't service my car. I actually chuckled to myself and was convinced that I called the wrong place...
He informed me that they didn't have the parts and that they couldn't commit to a specific appointment time. The gentleman wouldn't even estimate how long the job would take.Â
I hung up and called another dealer.
The other dealer seemed to face similar challenges but instead offered to pre order the parts, firm up the appointment and even arrange transport for me while the work was to be completed. Much simpler.
Same "problem" yet one dealer lost a client for life while the other gained a new customer and generated nearly $2,000 in immediate revenue.
This experience reminded me that most people (myself included) seek out simple solutions in nearly all aspects of their lives.Â
If you run a business any larger than a lemonade stand it's pretty easy to get caught up in the complexity of what actually needs to happen to service a client.
Regardless of what you do, there’s plenty there to complicate things. Standard industry processes, product recalls and regulations just to name a few. Combine all of that with a hectic schedule and you don’t need to look far to find roadblocks.Â
Successful business executives and entrepreneurs that I know all have one common trait. They anticipate obstacles, streamline the day to day clutter and proactively work through potential roadblocks before they appear.Â
In the end clients understand what they can expect. This builds confidence.
Albert Einstein said it best " if you can't explain it simply, you don't understand it well enough".
Time has become a scarce commodity and most of your prospective customers are seeking out service providers that can deliver a result while keeping "it" simple.
- Questions to ask yourself -
How would your clients rank you?Â
Where do you knock it out of the park?Â
Where are you lacking?
How can you improve the experience?
To your success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visitwww.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
Early last week a financial advisor we’d been working with reached out for advice. (We’re fortunate to have relationships with advisors all across Canada as some of the businesses we’re introduced to requiring funding come from advisors.)
This particular call was different though.
The advisor felt stuck with his “whale” (biggest prospect).
He attended several meetings with the whale and related stakeholders, spent weeks assessing the situation and building a strong case.
He worked tirelessly to present a custom made solution.
That was several months ago and since then...nothing...no movement. We have a beached whale.
Sensing that it was a large case, I asked the advisor what indecision was costing the client. The advisor came back with a number that could cover most peoples monthly mortgage payment – daily.
Then silence.
I could hear the advisor counting the days that his prospect had delayed doing what needed to be done. The opportunity cost likely added up to the equivalent of a large down payment on a home.
“So how do I get him to move without sounding pushy” the advisor asked?
“Be sincere and firm” I began “tell him that you feel compelled to share with him that since you both came to the assessment that X was the right thing to do - the delay in acting so far has cost XXXXX in lost opportunity”
Then politely follow up with “is this still a priority for you?”
“The second comment will provide your prospect the opportunity to get a move on OR let you know that he’d like to bow out of the transaction”
“Either way – you’ll be able to move forward with your business” I added.
One of the worst things business owners do to sabotage their efforts is to allow others to (inadvertently) zap the momentum they are building.
“You need to have a professional way to deal with the “maybes” I concluded.
Collect to many of them and pretty soon you’ll be out of business.
A “Yes” or “No” allows you to remain in control of your time and empowers you to decide how you want to move forward.
Whatever your business, as long as you’ve done a thorough review with the prospect, understood their needs, demonstrated value and clearly articulated the solution – it’s your obligation to advise the client on what the cost of indecision is.
At the end of the day, the indecision may not end up being based on financial implications however this approach can provide you with a  fresh approach to an outstanding “maybe”.
To your success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visit www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
From about the 8th century to well into the 11th century the Vikings raided much of Europe, Asia, the Mediterranean and even Northern Africa.Â
They would set sail from their Scandinavian homelands and arrive at the shores of their “enemies” ready to do battle.Â
Once on terra firma the men would proceed to burn their ships to the ground and march on their victims.Â
The crackling and smoke served as a reminder to the Vikings that the only way home was through victory. The men were committed. Few opponents stood a chance. Many fled even before the Vikings arrived.
Nowadays (in many parts of the world) this type of threat for physical violence is a non issue. Aside from blood, the Vikings primarily plundered for profit and nearly 1000 years later one key lesson continues to ring true.
The one most committed will eventually win.
The salesman that commits his days and consistently keeps his activities high wins.
The inventor that stubbornly continues to refine her creation wins.
The entrepreneur that remains focused, keeps learning and pours her soul into her purpose wins.
In 1968 Dr. Spencer Silver spent his days and nights in a laboratory attempting to develop a super strong adhesive. Instead he accidentally invented a “low tack”, reusable adhesive formula.Â
Convinced he was onto something he spent the next 5 years grinding it out to prove this formulas worth.Â
Dr. Silver willed into being what we know today as the “Post-it” note. When he first invented the formula he bet his reputation and some of his best years all while being widely criticized for promoting a “solution without a problem”.
Just a few weeks ago I caught an episode of Shark Tank where a would be entrepreneur wasn’t ready to fully commit to his idea yet he was seeking investment AND the safe harbour of his existing job. Mark Cuban called him a “wantrepreneur”.
TV aside, some people have real life situations to contend with… diapers and mortgages don’t pay for themselves.Â
That said, we all know deep down inside what a real commitment (unique to you) looks like. Most of us could step up our game.
Burn your ship and get busy.
To your success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visit www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
Each week we’re inundated with requests for funding.Â
Business owners all across North America reach out to us in search of growth capital. Everything from new technology, medical devices and even military grade equipment.
Upon some initial due diligence some of these businesses appear quite exciting however they don’t fit our mandate.Â
Different groups have different requirements. We’re primarily interested in:
Reoccurring Revenue Business Model Â
This could be either through a subscription model or contract. These types of businesses have the potential to create significantly more value.
North American Focus
That’s not to say that there isn’t opportunity abroad. There is quite a bit. There’s enough “risk” to manage in a growing business in your own country where you already understand the associated rules/laws of your industry. Going abroad brings about a whole new set of challenges.
Competent Operators
A fantastic idea is worth very little if there isn’t a competent group to execute on it. A strong team with related industry experience is always preferred however if you’re pioneering a better way to do things you may be the one inventing the industry and teaching everyone else.
It’s best for an entrepreneur to do some research on the type of deals funding groups typically focus on before going to market for capital.
We’re currently interested in connecting with business owners (that fit these 3 basic categories) that are looking to drastically scale their operations.Â
If you know a business that could be a fit, we would appreciate the introduction.
To your success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visitwww.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
A few weeks ago I was fortunate enough to attend a private equity conference in Toronto where one of the speakers shared a story in good humor about literally being hit by a bus days before the event.Â
When asked now what happens if he gets hit by a bus, he simply answers “I get up and get back to work”.
This humorous exchange prompted me to reflect on our business and the businesses we’ve worked with over the years.
One of the most common reasons why some companies have trouble scaling is because 1 person knows it all and doesn’t develop the people around them. Â
At times this is because they’re always too busy working in the business or perhaps they fear that teaching their people too much can create a competitor.
Whatever the rationale, without investing in people a business stays stagnate.
From a funding perspective we’ve had the good fortune to work with a wide variety of companies over the years and have found several key traits that HBTB (Hit By The Bus) proof companies have in common:
Clear Mandate – what business are you in? Everyone on the team needs to know why the company exists and how it makes money.
Cross Trained Leadership – there are typically one or two additional people that can step in to take over the business with strong internal and external relationships. These people already work very closely with the CEO and understand the day to day operations. Â
Back Office Strength – this is a big one. Documented processes, automated internal workflow, digital record keeping (amongst other procedures) will save the new CEO many sleepless nights.
Accountable Accounting – a clear process for keeping a finger on the financial pulse of the business is key. Larger companies frequently review financials and perform audits. There is plenty of software available nowadays to help smaller companies consistently manage their books as well.
If you’re just starting out it’ll be nearly impossible to implement all of these all at once (the one exception is accounting…keep track of your numbers). You’re likely too busy chasing down clients and proving out your model.Â
As you grow however, you will naturally begin to develop HBTB proof systems.Â
You will need them if you are looking to attract larger clients, funding partners or just want to create more free time to be with your family.
 To your success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visitwww.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
...the bigger the number the more impressed people typically appear.Â
A big organization implies that you’re running a credible, even powerful business. Outsiders looking in assume that you’re going places and that things are really moving. But are they?
As companies succeed the temptation to “grow” is often too difficult to resist. Many entrepreneurs get caught viewing current good fortunes as the new benchmark from which decisions should be made. The once lean company begins to pack on the calories in the form of: new widgets for the office, technology subscriptions, additional office space, and the heaviest of them all… additional staff… because everyone is “busy” of course. Â
Fast forward a few months and the business keeps pushing and sales increase.
Job well done right?
Not quite – upon further review you realize that the wages and all those additional “weights” you’ve added now consume a much higher percentage of your revenue.
Put another way – your sales have gone up but your actual profits are flat/falling.Â
This means that the business is under more pressure to perform and is “busier” then ever with no real financial upside for all the extra work.
Why would anyone willingly sign up for this? They wouldn’t…but if you asked most business owners which company they believed is more successful many would choose the larger of the two.
Look at any balance sheet of nearly any business and I will bet you that the single largest expensive is labor. Unchecked labor costs are one of the primary reasons businesses experience cash flow issues in the short term and fail to realize their true potential over time.
I was once involved in a business that experienced such a problem. The business had steadily grown for a few years and the executive team expected the trend to continue. Anticipating additional growth, the team preemptively hired several additional staff to support the sales team during this “ramp up”. Murphy’s law came into effect however and a series of unforeseen circumstances unfolded pushing back multiple large contracts for several months. This was bad news as these contracts were worth a significant percentage of the companies’ revenues at the time.
Had the additional burden of the new salaries not been undertaken the setback could have been easily absorbed with existing revenues. This new “weight” however dug into cash on hand. Left unresolved this issue would have become a recipe for disaster.
Nowadays when assessing a potential investment in a company we look for entrepreneurs that understand how to stretch a dollar – especially when it comes to understanding their labor requirements. It’s easy to get swept up in your “growth” when times are good and hire because you can. When lean times come (and they will) inefficiencies quickly present themselves.
The key is to have the discipline to be able to distinguish whether a position “could” be filled or whether it is an absolute requirement to service or grow your business.
To Your Success,
Marcin Drozdz
For more content you can follow Marcin on twitter @mdrozdz or visit www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
You can make the process of building a client base straightforward or painfully complicated. In all my years of building businesses I can tell you that the simple ways have always worked best.Â
Streamline Your Prospecting
At its core for you to build on a successful business you need to achieve 3 things:
1. Consistently find someone or a business with a need for your product or service.
2. Ensure that that person or business has the financial means to proceed with your solution.
3. Convince that party that your product or service is worth the investment in time/money/energy.
That is all.
No matter how complex of a business, nearly every successful business owner I know understands this simple truth.
Track Your ActivitiesÂ
Once you determine who and how you will prospect, how will you know if it's actually working and if the activity is worth your time?
To this day I track my time and review my (and my teams) activities weekly. It's a simple habit that keeps everyone accountable.Â
Over the years I've let this habit slip a few times and once in a while I find myself saying that I'm too "busy" to track my progress. Ironically it's those exact times that I "reboot" and take stock.Â
See every time I think that I'm "too busy" to track activities it's very likely that I'm spinning my wheels on something that isn't worth the effort.
Tracking activities forces accountability.
 Always Follow Up & Follow Through
Nothing turns me off more than someone who says they'll do something and they don't deliver.Â
Don't be that person. I would bet that one single action/non action kills more business than anything else.Â
If you say you will do something you must do it or quickly communicate why it can't happen as originally planned. It's that simple. If you don't take your own commitments seriously than how can a client believe anything else you say?
 Keep Doing What You Said You Would Do
Whether you’re prospecting or on boarding a client ensure that you clearly define the kind of ongoing interaction and service your clients can come to expect. This action alone will set you apart as a true professional and shows that you are someone that can be counted on. Consistent people are very referable.
To Your Success,
Marcin DrozdzÂ
For more content you can follow Marcin on twitter @mdrozdz or visit www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.
At any given moment there are literally a 100 different projects or initiatives that you can start working on. The question is… which ones will you actually finish?
If you’re a start-up or a business experiencing exponential growth your answer better be “whatever helps generate revenue today”.
I’ve seen several brilliant “starts” die because the entrepreneurs were constantly focused on implementing “exciting” new ideas or bringing on new team members all while still figuring out the business AND expending lots of time, money and energy along the way.
The real challenge for most growing companies is executing the “finish”.
Too many businesses recently have forgot this simple truth. Easy money has allowed many companies to raise capital at higher and higher valuations without much regard for pesky things like profitability.Â
This has allowed several bad habits to multiply in the business community:
There are too many managers and not enough people with their sleeves rolled up
There is too much theory and discussion and not enough testing and application
There is too much focus on branding and not enough focus on actual sales
There are too many internal meetings and not enough client facing interactions
You see…starting something new is sexy. It can be glamorous and exciting and there is almost always a “honeymoon” period where people temporarily cut some slack and suspend judgement.
Eventually though reality sets in, the music stops and funds dry up for the businesses that are great at “starting” as everyone involved (employees, investors etc.) eventually expects a return on their time or money. This is why the only companies that make it over the long term need to constantly create real value and deliver products and services that people actually want.Â
Whether you’re running a small business of one or are managing a team of 20 and still growing the key to your continued success and growth is being very selective in what new “starts” you embark on within your business. If the new “initiative” or “partnership” doesn’t exponentially increase your existing business; it’s likely not worth doing. No amount of time or capital investment will change this. Investing money and time will only delay the inevitable and suck precious resources from what does work.Â
Anyone can start something. Few people finish strong.
To Your Success,
Marcin Drozdz is the Managing Director of GoFund Capital Partners. An entrepreneur at heart Marcin began his professional career rising through the ranks in the private capital markets in Canada. Marcin has since helped build out several companies including a limited partnership focused on commercial real estate acquisitions, a financial services firm and an alternative business funding group. Marcin and his team now primarily work with professionals and business owners that are looking for capital or strategic solutions to fund their growth or exit.
For more content you can follow Marcin on twitter @mdrozdz or visit www.gofundcapital.com .
*** Please like or share this article if you found it valuable ***
The information contained herein is not intended to sell securities or to solicit funds in any jurisdiction. This correspondence and the information contained herein do not constitute an offer or solicitation for the sale of any securities. They are provided for general guidance on matters of interest only. This correspondence and the information contained herein are not intended to provide you with any advice on financial planning, investment, insurance, legal, accounting, tax or similar matters and should not be relied upon for such purposes. Neither GoFund Capital Partners Inc Inc nor any of its employees or agents are financial or tax advisers. You should assess whether you require such advisers and additional information and, where appropriate, seek independent professional advice. GoFund Capital Partners Inc, its subsidiaries and affiliates, are not responsible in any manner for direct, indirect, special or consequential damages however caused arising from your use of this correspondence and the information contained herein. GoFinancial is a marketing name of GoFund Capital Partners Inc.