Last Thursday, John Schaible, serial entrepreneur and chairman/CEO of Atlas Federal,

visited USF to share his advice on how to raise money to ensure you start your business

down the right track. He shared some of his missteps, like giving up on raising capital too soon,

doing it the ‘hard’ way for NexTrade.  Today, John will not start a business until he has met his

capital goals (e.g. for Anderen Bank, John raised $54 Mil before opening its doors).

Ten Things to Learn from John Schaible:

1. Learn to read a balance sheet (accounting).

2. Select a business model that works for your business: unique, drives the market,

is married to the corporate structure.

3. “Business plans are make believe,” but need to be as realistic as possible.

Research the marketplace and ensure your assumptions are based on research -

it’s more than just numbers, it has to follow a rational thought process.

*Tip for creating assumptions: Look at similar public companies’ financials and annual reports.

4. In order of actions: Select your business model; write a business plan;

choose your corporate structure; select your people; raise money;

and then start your business – Avoid starting a business without adequate money on-hand.

5. You can’t be afraid to get sued, but try to minimize your risk like communicating verbally

as much as possible. Think that every document or email you write will show up in court one day.

6. Find people with the experience you lack needed for your company.

Investors like to see: military service; a graduate of a well-known school;

a commendable business record like an IPO track record.

7. Investors go through the intellectual process in choosing to invest in your company,

but overall it’s a highly emotional process. They have to like you and believe in you. They invest in people.

8. Go for a 5-10 second business description, not an elevator pitch.

9. ALWAYS run a background check on investors – Screening is key for credibility & mitigating extraneous risk.

10. Believe in your business. You should be able to ask anyone for money

if you believe in your business; if you don’t believe in it, no one will invest.