Financing Business with Partners
by Judy Muskowitz
(Wine Country, California)
I discovered that financing my business with partners was my best option. Two years ago I was starting a small winery. I had inherited the vineyard itself, but it needed a lot of renovation. Due to my lack of experience, I trekked from banker to banker to banker. Each one told me the same thing: You've got no experience! Well, I knew that. But I knew I could learn. And learn fast.
So then I tried contacting some private people in the area. Time and time again, I heard the same thing. It was really getting depressing.
Then I talked with a woman who was retired from a vinyard in a neighboring county. She loved the industry, but was too old to actually do the work any more. So, you guessed it -- we became partners. It was the smartest thing I ever did. She cut my learning curve down to nothing. She knew things that no book could teach me. She was a walking encyclopedia on the industry.
We start every morning talking about what needs to be done today, then what needs to be done this week, and then next week. She has my days laid out for weeks in advance.
With Aggie as my partner, financing was easy. Her reputation was well established. She gave me all the credibility I needed, and then some!
I think the most important part is that I was willing to talk with people, and ask their advice. That's how I found Aggie, through a mutual friend. It has been a great journey!
