The Cost of Waiting

The Cost of WaitingOften times I listen to people just like you who say they are going to form their own capital their own way. Some even go as far to say that they don’t need any outside help, they just need to know who is providing loans for businesses. They can do the rest. So as soon as I hear that I just sit back and put them on my Cost of Waiting List.

What Do You Mean Cost Me?

After six months or so I call them all back and ask “So how did that DIY financing program work out for you? Did you get the financing you needed?” The answer is always “I am still looking.” Then I usually go into the next question of how much is looking and waiting costing them. There is usually silence at the other end. Then they ask “What do you mean cost me?”

Yes.  Waiting takes time and it costs you money and opportunity. The cost of money, raw materials, overhead to keep your doors open and a host of other things you have never considered all increase. It all adds up. Needless to say maybe the entire opportunity passed you by. His is what I mean by the cost of waiting.

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This Just Ask George show below goes into the detail of the cost of waiting. You will see that the DIY approach to financing your business and or opportunity is expensive. In the end it is not smart or even prudent to DIY because it will cost you more in the end. That cost may just be watching the opportunity to grow your business go by.

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George Lovato, Jr. is President and Principal of BH Capital Ltd., Merchant Banker, Consultant, Author and Lecturer. Happily married for over 30 years to his childhood sweetheart Gale, they live nestled in the shadows of the Sandia Mountains in Albuquerque with their six hounds.

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