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in entrepreneurship or business development, capital is often one of the key factors restricting development, which is also the initial reason for many founders to raise funds.

before raising funds, entrepreneurs should formulate a reasonable financing plan, including financing goals, financing purposes, financing methods, and the time of fund use. at the same time, entrepreneurs should also clarify the specific use of funds, such as product development, market promotion, team building, etc. a clear financing purpose can allow investors to better understand the use of funds and increase investor confidence.

in fact, in addition to raising money, there are three other key aspects: raising people, raising resources and raising wisdom. there is a great connection between these four.

integrate people: bring together like-minded partners

in the early stages of a business, capital is important, but people are more important than capital. an excellent team is the cornerstone of a successful business, so "integrating people" should be the first step in financing. the core of this step is to find partners who are consistent with the company's values ​​and have complementary skills.

i once experienced a failed startup project. at that time, the team had sufficient funds, but ignored the importance of team building. as a result, the project ended in failure due to the lack of tacit understanding and trust among team members. a united and efficient team is far better than fighting alone.