In the literal sense and the metaphorical sense – starting a business is exactly like robbing a bank. It is risky, confusing, exciting and dangerous and if you keep a cool head and stick to the plan – you might get out with some cash.

So, how do you plan a bank robbery (start a business)? Well this will assume that you have read the first two articles on this multi-part series – If you want to be rich then you need a crew and How to pick your million dollar crew. If you haven’t read these then you aren’t ready to read this. The first thing you need to pull off a successful job is the right crew.

1. You need a crew – You could go solo. I know there are lone wolves out there robbing banks or pulling off jobs every day. It is hard to control a large area with a lot of variables by yourself. The problem with going “Lone Wolf” that you are more likely to get caught. Solo artists get in and out with only the money that the teller that they are dealing with, have in their drawer. That is a lot of risk for for a few thousand dollars. If you want to clean out the vault and get away with it, you need a crew of people who know what they are doing.
   1. The Leader – we talked about this already so I am not going to rehash it. Someone has to be in charge – that’s just the way it is. Likely that person will be you.
   2. The Brains - This person will figure out where the deed will be done. It is always about location. Can you get in and out and get on the freeway in time? The Brains will work with you to figure out the right plan. The brain will help you organize your team and let you know what you will need.
   3. The Anchor – The plan has to go by The Anchor. This person will punch holes in your plans. The Anchor may have pulled off a caper like this before or may work in the industry and know about countermeasures. The Anchor is worried about their own ass. The Leader and The Brains are thinking about the money. In their heads the caper is already a success. The Anchor is thinking about the day after – they want an exit and cover strategy.
   4. The Money – You need tools. You need supplies. You need money. This is the person you go to when things need to be bought. This guy can be hard to find at first. But once you have a relationship, this guy can save your life. Many times The Money will be a retired hustler that can also offer some advice. Advice can be worth its weight in gold. Don’t screw this guy. The Money is often a leader who just doesn’t want to deal with the headaches of leadership. Never forget, you need him more than he needs you. The Money will want the biggest chunk of the take. He should probably get it.
   5. The Soldier – this person is down for whatever you need. They don’t have the juice to pull this off on their own but they need someone to put it together for them. Once the plan is laid down, sit back and watch this maniac work. The Soldier may be able to find you some freelancers like a Getaway Driver or some additional Muscle. They can usually manage and organize these people too giving you the additional protection. If the Driver or the Muscle goes down, there is no connection to you directly.
   6. Freelancer #1 – The Muscle – You need backup. There are a lot of variables when you start a caper. There are people who don’t want you to get your money. There are obstacles, annoyances, people crying – just a lot of things that will slow you down. The Muscle should help you stop that from happening. Think of The Muscle as The Soldier with less leadership skills and almost no loyalty. Cannon fodder. If someone has to be sacrificed – it starts with The Muscle.
   7. Freelancer #2 – The Getaway Driver – When you go into a place, you had better know how you are getting out. Only a fool walks in, stirs up a ruckus and THEN tries to figure out how they are getting out. The more getaway drivers you have, the better. You can have one at each exit or have them set up in tandem so you can dump one vehicle for another until you are out clean. Remember, they work for The Soldier so you have nothing to worry about. If they get caught up or they need to be dumped – it is The Soldier’s problem.
   8. Freelancer #3 – The Expert – You need someone with expert knowledge of the tools of the trade. The Leader can’t know everything about everything. Do you need specialty tools? Electronic countermeasures? Hackers? Phone Experts? Inside information? Demolitions expert? Chemical expert? You need an expert. If you are going to half-ass it then you are going to fail. No matter what you want to get into – find someone who knows more than you. You will need that help.

Here is a word of caution. Anyone not part of your primary team will want to get paid. They may even have ambitions and want a cut in the action. Don’t get mad. Everyone thinks that they are important. Every employee thinks that the whole plan will fail without them. This is common. You have to negotiate up front what you are willing to pay for their services. Feel free to come in cheap. Many people do. However, when the news hits the streets that you came out on top with millions, these people will show up looking for their cut of the action. Make sure you cover your ass in this case. Make it absolutely clear that the freelancers know that what they get is all they get. Feel free to offer a bonus or a cut of the action if everything goes off smoothly – that’s up to you. If some freelancer comes up with some new ideas or a unique strategy that makes everything go smoothly, then reward them. You might even consider making them a player in the next job. Good help is hard to find.

Don’t forget… if everything goes south – these people are still going to want their money. And ultimately, the law is on their side so you had better prepare yourself to pay up, even if you aren’t successful.

So now you have a team. Understand that this is not set in stone. These are simply players in YOUR game. You can trade players at any time. However, if you are planning to switch out players, make sure that no one player has enough of the plan to pull it off on their own or sell the information to some other interested party. I got burned once by a player. He had 3/4 of the plan. He burned me and took the rest of the team with him. That missing 1/4 of the plan… yeah he lost his house, his cars and almost his marriage. It wasn’t my fault. He was the leader – but I was the brains. He ended up coming back with a new plan and made his money. I don’t hate him. I learned a lot from that mistake. It likely cost me at least a million dollars so I hope I learned something. I will probably talk about that whole story later.

I have to admit that this whole thing was a lot longer than I thought it was going to be. So, see you later for another thrilling chapter. Stay tuned for “Starting a business is like robbing a bank -create a plan“