THE NEXT BIG DREAM: Millions Will Compete & Millions Will Win...Millions

Mommy Millionaire

Kim Lavine has transformed the lives of millions through appearances on the Today Show, Rachel Ray, GMA, NBC, ABC, CNN, CNBC, FOX, NPR, Oprah & Friends & features in USA Today, Guideposts, Inc, Business Week, Entrepreneur, and Forbes, to name a few. Her startup bible MOMMY MILLIONAIRE was called by Publishers Weekly “A top-notch how-to guide on launching a business…a rare gem.”

Read more in the newly updated Platinum Version of MOMMY MILLIONAIRE Available for immediate download by eBook or PDF. Filled with all kinds of bonus materials including document templates, updated tips and the real skinny on what went down since I wrote this book.

Price: $9.99 (Upon purchase you will immediately be redirected to download in EPUB, MOBI or PDF formats)

Kim Lavine's Media Highlights
Kim Lavine's TV Highlights
Kim Lavine
Listen as I tell you a story, of history being made...

Kim is on a mission to inspire people to follow their dreams, empowering them with hope, honesty and faith.

Identified as America’s Expert on Inspirational Business Advice, Kim touches and inspires millions around the world through her appearances on The Today Show, Rachel Ray, Good Morning America, NBC & ABC news, CNN, CNBC, FOX, NPR, Oprah & Friends Radio Network, and features in USA Today, Country Living, Guideposts, Inc, Business Week, Entrepreneur, Women's World, and American Baby to name a few. Read More...

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Kim Lavine's Print Highlights

« The Sources And Use Document »

by Kim Lavine

Symphony Money wanted me to bring along a Sources and Use document for this meeting, so that the Angels could understand the exact itemized cash needs that I had in the short-term to keep my business running. This document of all the documents I’ve listed, was the one that caused me the most agony in the months that ensued.

Sources and Use Document

Its exact use was not well understood by anyone, including bankers, accountants, CFO’s, and even my SBDC counselor. Our combined limited understanding produced a finished product that never failed to disappoint.

By the time I was in final stages of negotiation with the Angels, they had looked at so many different Sources and Use documents produced by so many different people with so many different purposes in mind, that they thought I was even more of a financial mess than I actually was.

My Angels wanted to know how much cash I needed short-term to keep my business from going under—forget about paying off long-term debt like credit cards and SBA loans—and how specifically I would use those funds.

We did our best to prepare one

We got all dressed up again to drive an hour to meet with the Angels. This was my fifth meeting with them in the fifth location. I was cautiously hopeful that things would go well, but after the last ambush, I didn’t know what to think. We were escorted back to an office, where Symphony Money, Old Money, New Money, and a new person, henceforth known as Bad Money, were waiting to meet with us. Symphony Money told me what he wanted me to do while New Money furiously checked his email on his Blackberry.

“We’ve decided we’re going to invest in Green Daisy,” said Symphony Money.

You could have knocked me over with a feather.

“We’re concerned that your financials aren’t exactly in order, and we don’t know if we have time to complete due diligence before these critical time and money deadlines you’re facing pass,” said Old Money.

“I need to make product to deliver to these big retailers, who I’m closing now,” I said. I also need to go to New York just weeks from now for a major show. If I don’t go to that show, I’m going to miss serious opportunities. I have leverage in the marketplace, that I’ve earned from selling Saks 25,000 Wuvits in just five months in 2004, and I need to capitalize on it—now!”

“Exactly,” said Bad Money. “Did you prepare your Sources and Use document?” he asked.

“Yes,” I responded.

I noticed we needed a pathetic $25,000 in the near term to fund our million dollar operation. The number we had previously been discussing for investment with the group was in the six figures, depending on how much infrastructure the Angels wanted to grow and how fast.

A Shoestring on a Bootstrap

I was used to functioning on a shoestring budget, which is a quality that endeared me to them. There was just no way they could get a better value than buying part of a company with more than a million dollars in revenues in just over two years, with an energetic and inspired President who was creating all kinds of new award-winning products to shove through those valuable channels of distribution every day.

“There is a lot of money here,” Symphony Money said almost unconsciously to himself and to the others, seeming to consider an invisible pile of cash on the table before him. I couldn’t even see the money he was looking at then.

Show Me the Money--Wow!

He was exponentially more skilled, perceptive and accomplished at seeing opportunity, and turning it into money than I was. $700,000,000 a year to be exact, I would later find out, as the past President of a huge national brand. He had met an artist with drawings on paper twenty years ago and single-handedly created a business empire from them, licensing the art into every conceivable item of merchandise known to man, from collectible figurines, to books, pajamas, cartoons, bibles—you name it!

He had secured one license worth a hundred million dollars alone. When I would meet the current president of the company—the same one who was making regular appearances on QVC, shipping container loads each month from China—he characterized Symphony Money’s accomplishments perhaps better than anybody else. “I’m the car, sitting in the garage, of the house that he built.”


Read more in the newly updated Platinum Version of MOMMY MILLIONAIRE Available for immediate download by eBook or PDF. Filled with all kinds of bonus materials including document templates, updated tips and the real skinny on what went down since I wrote this book. CLICK HERE TO BUY THE BOOK

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