00:00:10video edition of ask Evan in today’s
00:00:13video I’m going to answer a question
00:00:14from one of my readers michael michael
00:00:16is an inventor he’s created a lot of
00:00:19products towards the ski and snowboard
00:00:21industry and they’ve sold for a lot of
00:00:23money but it’s always been for somebody
00:00:25else so now he wants to branch out for
00:00:27his own business and reap the rewards
00:00:29from his own inventions he’s trying to
00:00:31raise money to create a business plan to
00:00:33go for government funding and ask my new
00:00:37on what you should do so first of all
00:00:39congrats Michael it’s a great step to go
00:00:41on your own start your own business
00:00:42instead of working for somebody else
00:00:43takes a lot of guts to do it for writing
00:00:47your business plan I don’t recommend
00:00:49that you hire somebody to help you with
00:00:51your business finder it doesn’t have to
00:00:52be a super complex document but you want
00:00:55to make sure that you have your own
00:00:56ideas in there and it’s not somebody
00:00:58else doing it for you you don’t really
00:01:00see a lot of successful businesses that
00:01:02have been set up by somebody else
00:01:04reading their business plan so it
00:01:05encourage you to to write a business
00:01:06plan and try to do it yourself if you
00:01:08can and generally work with government
00:01:10funding it is an option but it may not
00:01:12be the best option for you to look at
00:01:15governments can be super helpful but it
00:01:17can also take a really long time to get
00:01:19the funding and often there are strings
00:01:22attached to it that you may not be able
00:01:23to go with so I would encourage you to
00:01:26try to look at other options if I were
00:01:29you I would probably try to contact some
00:01:31people in the ski industry there’s a lot
00:01:33of investors who put money to various
00:01:35key products figure out how much you
00:01:37need for your next invention so don’t
00:01:39think about your whole suite of new
00:01:40ideas coming out think about what’s the
00:01:42next invention that you want to launch
00:01:44try to find some people who know some of
00:01:46the products that you’ve created and
00:01:47believe in this investment and encourage
00:01:50them to want to get involved and
00:01:51hopefully they have money to bring but
00:01:53also a little bit of experience and
00:01:54connections within the ski or snowboard
00:01:56industry and then use the money that you
00:01:59make from that person mention to fund
00:02:00future inventions and it could be again
00:02:03with the same partners or you can go out
00:02:04on your own and do it yourself that’s
00:02:07what i would do i’ll try to connect with
00:02:08people
00:02:09who I know or who know me through the
00:02:11products that I’ve created if you have a
00:02:14big track record of success inventing
00:02:16cool products in the ski snowboard
00:02:17industry and I try to focus on that
00:02:19instead of going for the business plan
00:02:22and document root you can still try if
00:02:24you think you’ll have a much greater
00:02:25checks success working with individual
00:02:27investors who know your industry and who
00:02:29believe is how the products is created
00:02:31so I hope that helps Michael for
00:02:33everybody else if you enjoyed the video
00:02:35i love it if you can get with a thumbs
00:02:36up and will create more videos just like
00:02:38it and I’d also love to hear your
00:02:40thoughts and feedback if you want to
00:02:41leave a comment below the video and stay
00:02:44tuned for the next episode
00:02:56you
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