Saturday, May 10, 2014

Access funding equity





Some entrepreneurs borrow money to finance their business ; doing so, they go into debt from the beginning and , in most cases, must repay their loans with interest. The equity financing , however , allows you to remain debt free , but you must give a percentage of your business or your profits to an investor.

Some investors could expect to have more weight than others in exchange for their investment, given their contribution in terms of expertise and business relationships , and time available to help you run your business . You can negotiate the scope of the strategic and creative partners that may have within your organization before signing any contract control .

The key to achieving equity investments is preparation. You need to prepare a rigorous plan to convince an investor that you know what you do and that your business is worthy of his time and his money. Take the time to study the elements you need to consider before going ahead.
On this page:

    1 Financial . Requirements and Performance
    2 . Financing Options
    3 . Investment Potential
    4. Management Skills
    Investment Project 5.
    6 . Identification of potential investors
    Investor Meetings 7 .
    8. Negotiations
    9. Closing the deal and due diligence

1 Financial . Requirements and Performance Top ↑

First , make a detailed strategic business plan that shows your financial needs and performance of your business in the future, and that meets the following key questions for investors :

    Where will you be in five years?
    How would you take to get there ?

It takes time to develop a plan and gather the required financial information . It also requires special skills , given that the economic environment is constantly changing . Your management team and your external advisors should be able to lend you a hand.
your forecast

Investors will review your business plan and your projected financial statements very carefully to determine whether your company will produce an acceptable rate of return within a reasonable time .

Your plan and your financial projections should demonstrate in detail how you will use the funds that will give you and what your company will get financial results over the next two to five years ( long term).
Determine your financial needs

To fund your growth plan , you will know how much money you will need to :

    working capital ( daily and monthly operating costs) ;
    fixed costs ( equipment, buildings, etc.).
    marketing activities (advertising, promotion, etc.).
    the airbag .

financial projections

Investors want evidence that you will actually achieve the expected gains . They look very closely at your project to determine if:

    your analysis of the market outlook is compelling and realistic ;
    your needs for working capital , production capacity and needs in human resources are consistent with the growth rate you expect ;
    the expected growth rate is reasonable, given your current market and conjecture ;
    your projections will be realized in various economic situations and market environments .

Your investment proposal should include:

    annual projections for a period of one to five years ;
    a projected monthly cash flow budget for the first year ;
    sensitivity analyzes your projections under various scenarios.

2 . Financing Options Top ↑

For the expansion of your business, there is a good chance that you will turn to the three main sources of funding :

    conventional methods of external loans ( eg , mortgages, lines of credit. )
    internal sources of capital ( eg , improved cash flow , reduced inventory levels, obtaining better terms from suppliers . )
    investors in venture capital.

The number of investors in venture capital who are willing to invest in return for equity include:

    angels ;
    corporate venture capital ;
    institutional investors ;
    corporate venture capital workers ;
    certain Crown corporations .

Cost control and risk

Investors in venture capital funding will consent to companies that conventional sources could avoid . Investors in venture capital assume part of the risk of growth, but there will be a price to pay in return ; it may be that you have to pay more or to give a little of your influence within your business .

When reviewing the different types of funding, you will find answers to the following key questions:

    How much does it cost ?
    To what extent would I give away part of my decision-making power within my company?
    What is the level of risk to which I will outline ?

cost

A stake in venture capital :

    is more expensive for the contractor that debt financing ( because the investor expects a high rate of return ), but
    generally , the cash cost to the company is less ( because the investor usually retain its shares for a number of years before selling them on the market) .

control

The equity financing will result in a loss of control as investors :

    buy a part of your company in exchange for shares ;
    require likely to sit on the board of directors;
    probably take part in the management of the company and decisions.

Entrepreneurs are not all open to the idea of ​​sharing their ownership - the are you? Before you answer, remember that often the active participation of the investor can be valuable because it brings experience in management, business relationships and other resources .
risk

When you have a debt , the level of risk increases because you have to make payments on a fixed date to repay ( capital and interest). However, if you opt for an equity investment , the investor will take a part of your financial risk, but also take the advantage that provide equity .
3 . Investment Potential Top ↑

You must demonstrate to investors that your business project meets their three basic requirements:

    excellent growth potential ;
    exceptional level of performance;
    how to make an investment .

Also, when capital is scarce , you must demonstrate why your company is a more secure and predictable investment than other potential companies that an investor could support .
Be sure to show your growth potential

Investors will want proof that you can actually achieve the expected growth rate in your project. The situation analysis is a good way to meet this requirement. It is to analyze :

    the external business environment: threats and opportunities ;
    internal business environment: strengths and weaknesses of each of the key functions of your business.

Assessment rate of return on invested capital

To demonstrate to investors the rate of return on their investment that they provide , you must first determine the value of your business ... today and in the future. Why ? Because equity investors bet on increasing the value of the company to be able to realize their investment. If the value of your business increases, it will be the same on their investment.

Determine the value of your business - assessment - is a complex process , but essential. You will most likely appeal to an expert ( financial adviser or expert in business valuation ) to properly assess your business .

    How much is your business? Guide to Business Valuation

    Before approaching investors or potential buyers, it would be helpful to assess the value of your business. Learn about the different methods to assess your business .

Because the investor will probably not the color of his money for several years , the best evaluation method is to assign a present value to future earnings .

The details of your agreement all depend on the value of your business . The amount of the value of your business will determine :

    the amount to be invested ;
    how great is the part that investors get in return ;
    the return on investment they expect .

Withdrawal of money from the investor

Investors will seek assurances that they will be able to withdraw their money from your business . You must include an exit strategy in your project to investors to know how they can realize their investment. The exit strategy also has an impact on how the value is calculated.

Exit strategies for private equity investments include:

    initial public offerings ;
    the sale of all shares in the company ;
    purchase of shares of the investor by a third party ;
    redemption of shares by the investor company .

4. ↑ Top Management Skills

Investors try to determine if your management team is able to execute the business plan and realize the potential that an investment in the company.

They do not want a company headed by a person orchestra. They want to have a talented team :

    has the skills and experience required ;
    justifies strong work history for each major business functions ;
    is well structured ;
    communicates well and is able to make decisions and build consensus ;
    is able to follow the growth of the company .

Assessment of your team

One of the main criteria for investors is that your team is able to meet the new challenges of growth. Rate your team skills and ability to ensure business growth by comparing the skills that its members have the skills they should have . You can use to this end , tools such as:

    the audit ;
    report cards by function key management .

Prepare to meet investors

You must demonstrate to investors the competence of your team and the competitive advantage it provides. Prepare to answer difficult and specific questions about each of the management functions of your business :

    marketing and distribution ;
    production and operations ;
    accounting and finance ;
    human resources;
    research and development.

Strengthening your team

If your team has some shortcomings, now thinking of ways to fill them. You can strengthen your team :

    improving the skills of your managers ;
    recruiting new people ;
    changing the structure and role of the team;
    recruiting directors and outside advisors .

    training

    Find training for you and your employees, and learn about essential workplace skills.

Investment Project Top ↑ 5.

You must develop a concise and powerful investment project, because it is the tool used to capture the attention of investors.

An investment project , it is not a business plan . The business plan is for internal public ( ie to your managers . ) And aims to regulate their activities; the investment project is aimed at an external audience and aims to sell an idea to obtain the necessary funds.

After reading your project , investors will want to know :

    conditions of the agreement;
    what makes your project a unique opportunity ;
    the balance sheet of your business ;
    the quality of the people involved ;
    the specifics of your business and your industry .

summary

The summary should be brief, but complete. If it is good, it will encourage investors to continue reading. In summary , you must:

    specify the rate of return they will provide your project ;
    demonstrate that your team has the skills to execute the plan ;
    explain the means at their disposal to monitor their investment;
    explain how they will achieve their investment.

Capture the attention of investors

The investment project must capture the attention of investors by providing them with an attractive and easy to understand the information. Pay special attention to the drafting and visual appearance.

    Write a clear and concise text.
    Avoid jargon and, if necessary , explain technical information.
    Have use of graphics and layout techniques to properly convey your message.
    Structure your project so that it is easy to read.

Contents

An investment project typically includes the following sections:

    summary ;
    company history and profiles of shareholders;
    external environment ;
    products and services;
    management team;
    financial plan;
    financial structure and evaluation;
    operating plans;
    annexes.

6 . Identification of potential investors ↑ Top
What are the potential investors?

We distinguish various types of investors in venture capital, each having different characteristics.

    Capital investors friendly risk : Family and friends are important sources of capital in the early stages of development of the company .
    Angel investors : These are individuals who, in some cases , want to actively participate in the management of the company by his service experience and expertise.
    Companies Venture Capital: There are companies that are run by professional investors in venture capital and usually have strategies or investment preferences .
    Institutional investors : pension plans , insurance companies life , banks and other institutions also offer financing through venture capital.
    Companies benefiting from state support : The Business Development Bank of Canada and other organizations offer of equity financing ; they also offer advice, guidance , training and mentoring services to small businesses.
    Strategic investors : Large companies often invest in small companies when they are looking for strategic partners.

How to find them?

Let people know what you are looking for. Talk to people who can introduce you or recommend you , for example:

    business relationships or personal ;
    experts to work for your business ;
    a financial advisor specializing in venture capital.

You can use the following resources or means to make valuable connections :

    trade fairs, conferences and forums investors ;
    local chambers of commerce ;
    industry associations ;
    bodies of local and regional development;
    investor associations .

Among other possible sources of information include the Internet; newspaper articles dealing with investment agreements ; directories and lists of professional and industrial organizations ; and local entrepreneurship or services regional economic development centers.

    Sources of private sector funding

    Learn about debt financing and equity financing from the private sector to meet the needs of your business.
    Equity

    Looking for a long term financial solution for your business? If so, an equity investor might be willing to wager on your potential.

Who should you target ?

You must identify investors whose criteria match your situation. Here , to this end , the key elements you need to consider.

    Stage of development : The stage of development of your business is it that search the investor?
    Amount required : The amount you need to fit into the limits set by the investor?
    Industry: The investor he likes a particular industry ?
    Geographical location: The investor is it close to your business?
    Initiative : If you want to spread the investment , the investor he agrees to take the lead ?

Meetings with investors ↑ Top 7 .

The first meeting with the prospective investor is an opportunity to give life to your investment project. During the meeting , the investor will examine the confidence you have in yourself and your product or service. In addition, it will attempt to assess your credibility and integrity. It will also be an opportunity for you to learn more about this potential investor .
Agenda

Usually , only a few people - you and your advisors , potential investors and advisors - attend this first meeting. This session typically incorporates the following components:

    Official presentation of your presentation ;
    questions and answers ;
    Preliminary decisions on the next steps , if any;
    tour of the facility , if the meeting takes place in your office.

Be ready for the meeting

The first meeting is not a social event . You must carefully plan the meeting and plan your strategy carefully . To this end , you should:

    send your investment project to the investor prior to the meeting ;
    request prior to the investor to make his needs;
    pay attention to detail - meeting room , equipment, attire ;
    rehearse your presentation.

Questions investor

Be prepared to answer tough questions. In fact, more questions will be difficult , the more it will reflect the interests of the investor. The latter want to get answers to questions like :

    Who are you ?
    What are your accomplishments?
    What is your commitment ?
    Do you have a strong management team ? If yes, who is responsible for what and why?
    Your earnings forecasts are they based on reasonable assumptions ?
    She enjoys your company a competitive advantage ?
    Your business opportunity is it accompanied by a viable exit strategy ?
    How the funding strategy does affect the business strategy ?

your questions

Here are the questions you should ask at the first meeting .

    Investors judge he your realistic financial forecasts ?
    The investor understands it well your particular needs ?
    The investor does he need more information?
    The investor has he the type of capital and the amount that you consider necessary to finance your business opportunity ?
    The investor he will play an active or passive role in the management of the company?
    The investor has he experience and the skills to work with the management team to improve operations and financial performance of the company?
    The investor is there anyone with whom you can discuss challenges, opportunities and threats facing your business?

8. Negotiations Top ↑
Subscription offer

Negotiations officially begin when you receive the investor a subscription offer . It is neither more nor less, the response of investors to the project. The subscription offer covers the main elements of the agreement :

    the amount that the investor is willing to invest ;
    the share of investment that represent equity ( shares) and one representing the loan ;
    procedures relating to shares or loan ( shares, dividend payment frequency , repayment terms of the loan, type etc. . )
    other elements that investors would like to see integrated into a new or revised version of the shareholder agreement.

Negotiation Issues

Price: The value of the company, the outlay of the investor and the share of the business it intends to acquire are key elements of the negotiation .

Control: The investor will want to find ways to monitor its investment (eg , representation on the board or any involvement in decisions . ) . You, the entrepreneur must decide how far you are willing to give up control of your business.

Performance Indicators : You must decide by mutual agreement of the performance indicators and targets that will make your project a success. Then you must specify the details ( eg . , Sales volume, level of cash flow, debt repayment ) .

Exit Strategy : You need to determine how and when the investor will achieve its investment (eg , sale of the company , initial public offering , redemption of shares of the investor. ) .

Employment contracts : It may be that the financing agreement requires that employment contracts are concluded with key employees to ensure that they remain in position.
Trading session

Here is a good strategy to adopt during a trading session.

Start the discussion : Outline the differences you see between your investment project and the subscription offer .

Focus on the interests and objectives of the parties : Expose your interests and allow the investor to share his.

Find common ground for the calculation of financial information : Some differences may reflect the fact that you have chosen different assumptions or using different methods of calculation . Try to clarify things and to reach consensus . If necessary, consult specialists.

Imagine alternatives that benefit both parties : Be flexible and consider alternatives . Allow time to explore other options and do not hesitate to be creative .

Do not forget to consider the future: Make sure that you enter into the agreement will allow , if necessary, mobilize other funds in the future .

Hold many negotiating sessions : Between sessions , imagine alternatives , analyze the position of the investor and get more information to support your goals.
9. Conclusion of the Agreement and prior checking ↑ Top
Rate Agreement

Go to comb the agreement keeping in mind the elements here .

    The future of your business : Is it a wise choice for you and your business - today and tomorrow?
    Your financial needs and goals : A good agreement will benefit the financial health of your business and does not restrict its ability to raise capital in the future or to participate in other ventures .
    Trust and affinity : You engage in a long term relationship . Also make sure you can build a profitable and constructive partnership will remain strong , even if your business sometimes does not turn as smoothly as you would like .

Review your legal and other obligations

Elements to consider:

    Legal aspects: Make sure you understand the legal consequences of the agreement , particularly regarding representations and warranties that the company is willing to give the composition of the Board , the policy on the payment of dividends, remuneration arrangements .
    Regulation : Ask your lawyer to check all regulations, all restrictions and all registration requirements.
    Existing contracts : Determine the effects of the agreement on existing contracts (licenses, employment contracts, contracts with suppliers and bank loans, etc. . ) .

diligence

Before concluding the agreement, the investor will conduct due diligence to verify your information and get more information as needed. Each investor proceeds differently . Some entrust this task to consultants (usually large accounting firms ) , while others will take care of themselves.

Upon exercise of due diligence , we will look generally on the main elements of your business :

    Financial Review : the financial situation of the company ;
    management review : the skills of the management team;
    Market Review : plan and marketing activities;
    review of the operation and technical activities: equipment, facilities and processes.

Tie good relations with investors and maintain them

It is important to remember that an agreement marks the beginning of a relationship. For this relationship to flourish, you need two ingredients: good communication and trust . You can strengthen this relationship by ensuring that the investor obtains all relevant information in a timely manner and participates in decisions.

Monday, January 30, 2012

Illustrations on the life and adventures of Hercules

Hercules is one of the most popular heroes of ancient Greece. He is the hero par excellence, who performed exploits, and he had confidence in his strength. However he does not always control his emotions, including anger and rage. This is probably why in  Athens (the city of the goddess of wisdom,) he has always preferred the hero Theseus (also author of exploits but also very intelligent and compassionate). However, his magnanimity is reflected in his repentance, remorse and his desire to repair his faults.

I) His birth and youth

He was born of Zeus and the mortal Alcmene. To attract his mother, Zeus took on the appearance of her husband Amphitryon, who was away at war. Alcmene gave birth to twins: Hercules, son of Zeus and Iphicles, son of Amphitryon.

Hera was jealous, as usual, and she wanted to kill the hercules. She sent two serpents to go to the cradle and kill him. But Heracles strangled them. Hera did not give up, however, and continued his hatred of Hercules throughout his life.

He had a good education, with renowned masters, but he has not always been patient: he even killed his master with his lute instrument. Amphitryon was then sent to keep his sheep on Mount Cithaeron. Then he wondered about the meaning of his life, two women appeared to him, Pleasure and Virtue, the first offering him a life of pleasure and the second a life of toil and glory. He chose the latter.

II) His exploits

First he fought the Mycenaeans who were taking a heavy toll of the Thebans. In gratitude, they granted him the hand of the princess Mégarée. But Hera was watching and made hercules go crazy and he killed his wife and children. When he recovered because he saw the terrible carnage and not immediately understood that he was the muderer. Theseus, his friend, prevented him from committing suicide and took him to Athens. But Heracles felt sullied by this heinous crime and went to Delphi to know how he could atone for his crime and purify himself.

Pythia ordered him to go to his cousin Eurystheus, king of Mycenae (of Tiryns, according to other accounts) and comply with all its requirements as a penance.

Thus Eurystheus imagined a series of works, none of which had not be feasible. It must be said Hera, once again, was not far off: she advised Eurystheus in the choice of this work. These are the twelve labors of Hercules.

1) The twelve labors of Hercules
For him to kill the Nemean lion, kill the Hydra of Lerna, bring alive the deer of Artemis,
capture wild boar Erymanthian, clean the Augean stables, exterminate the birds Stymphalian, bring Cerberus from Hades, to seize the horses of Diomedes, take herds of Geryon, report the belt Hipppolyte queen of the Amazons, seek golden apples of the Hesperides garden,  tame the bull given to Minos by Poseidon.

2) The other exploits

When Heracles had expiated the murder of his wife and children, he went far to live a peaceful life. Indeed he defeated the giant Antaeus who forced passersby to fight against him and killed them. He even made a temple with the skulls of his victims. As he touched ground, he was invincible. This is why Hercules lifted him and strangled him.

Going in search of the golden apples, he passed through the Caucasus and Prometheus freed by killing the eagle devoured its liver.

While he was en route to his eighth work (the king's horses Diomedes), he went to his friend Admetus, King of Thessaly. The wife of the latter had died in an unusual way. Apollo (who had befriended Admetus during the year of slavery to which he was condemned by Zeus for killing the Cyclops, Zeus workers) had learned that The Fates (Fates) had spun all over the life of the king and were about to cut. He got them a favor Admetus would have stayed if he found a replacement. But nobody wanted to die in his place, not even his very old parents. Only his wife Alcestis consented. To console his friend, Hercules descended into Hades, fought against Cerberus and brought Alcestis.

Hercules is worshiped throughout the Greek world. He is known for its strength, endurance, compassion, but also for his gluttony and anger. Considered the solution against any danger, called upon at any time: he was  called "Alexikakos" meaning the embezzler of ailments.

Who is Hercules?

In this article, we will be looking at who hercules is and the whole story that has to do with him.
A. Who is Hercules? Hercules is a hero and a demigod, famous for his courage, bravery, strength, and his legendary exploits. He is the son of Zeus and Alcmene.
B. The early history of Hercules Zeus, the chief god, married a mere mortal, Alcmene, taking the appearance of her husband Amphitryon was away at war. Zeus and Alcmene had a child they named Heracles (Hercules in French). Hercules was afraid of nothing, he was incredibly strong. After a few years, he became colossal: he could not control his strength. No one dared challenge him in the race he was so fast. Hercules married then with Megara, daughter of Creon, king of Thebes, having prevented the army Erginus to conquer the kingdom of Thebes. They had several children. But Hera, the goddess wife of Zeus, who was furious that her husband has cheated with a mere mortal attacked Hercules. She asked the demon of insanity of the sting. Hercules went mad and with his bow, he killed his children. After realizing his crime, Hercules went in despair to Delphi to ask Apollo, the god of the arts. The god replied, through the oracle that, to repent, he should serve for twelve years, his cousin Eurystheus, king of Tyranthe. Hercules then went to see his cousin who ordered him to perform twelve labors.

    
1) The Nemean lion (Leo)
    
2) The Hydra (Cancer)
    
3) The doe Cérynie (Scorpion)
    
4) The Boar of Erymanthus (Balance)
    
5) The Augean stables (Aquarius)
    
6) The birds of Stymphalian (Sagittarius)
    
7) The Cretan bull (Taurus)
    
8) The mares of Diomedes (Gemini)
    
9) The Belt of Hippolyte (Virgin)
    
10) The oxen of Geryon (Poisson)
    
11) The golden apples of Esperides (Aries)
    
12) Cerberus, the three-headed dog (Capricorn)
Note: Each of the 12 labors of Hercules is a sign of the zodiac.
 
C. The twelve labors of Hercules

1) The Nemean lion
Eurystheus first asked the hero to bring him the skin of the Nemean lion. This terrible beast lived in a forest of Argolis. It was terrorizing the people of this region. Its roars were so chilling that shepherds and farmers were hiding in their homes.
Hercules, armed with a bow and arrows and a club headed for the den of the beast. One by one, he let fly his deadly arrows. Each found its target, but the animal was invulnerable, his skin was so tough that no arrow could not start. Arrows ridiculous ricocheted on earth. Hercules was not to impress, and a loud cry, he rushed at the monster brandishing his club.The lion, scared and surprised fled into his cave had two entrances. Hercules stopped up and entered one by the other. The beast, driven and roared, his mane bristling, began to jump. Hercules then raised his club and brought it down on the skull of the beast. The blow was so violent that the club broke in two. Half stunned, the lion was staggering. He threw his arms and hugged the lion of his strong arm and his strength was such that defeated the lion died suffocated. Hercules then skinned the animal and put on his fleece as a breastplate.

2) the Hydra
The second had to do work that Hercules was to kill the Hydra. The Hydra was a huge dragon reptile's body topped by nine heads. She lived in the dark swamps of Lerna. His breath was poisoned and devastated the surrounding countryside.
Hercules went to meet him Ialaos companion, who was driving the chariot of the hero. They soon found themselves at the edge of the marsh. Hercules sent a volley of arrows in the reeds and the Hydra, furious, appeared. He wanted to break down the ugly heads with clubs, but each head defeated, he was reborn two. Ialaos he called for help. It set fire to the nearby forest and, armed with torches began to burn each head reborn. Soon there remained only one. This one was immortal. Hercules the cut and buried under a rock. The monster was defeated. Hercules opened the body of the beast and picked his poison. He dipped his arrows and went poisoned.Hercules returned to the court of Eurystheus refused to count the number that feat Works, under the pretext that he had received outside help.

3) the hind feet of Brass
Eurystheus then ordered Hercules to bring him alive doe Mount Cyrénée. It was a wonderful deer with golden horns and brazen feet. She was so quick in the race no one could ever catch him. Dedicated to Artemis, she was one of the four hinds of the coupling of the goddess.It is in the woods of Oeno, in Argolis Hercules began to pursue the animal. The chase lasted a year. Leading his fighter with it, the deer ran to the land of the Hyperboreans, the magical land that extended beyond the regions of frost and snow. There, a perpetual spring reigned. Tired, then the doe turned his steps. Still rampant, still pursued by the hero, she reached the banks of the Ladon. She hesitated to cross the river which had been swelled the rainfall. Hercules took advantage of his indecision and fell upon her. He caught him with a net and the load on his broad shoulders. As he brought the animal, he met Artemis and Apollo, who made him reproach and demanded the doe. Hercules threw the blame on Eurystheus. The goddess gave him permission to bring animals to Tiryns, provided release then without it hurting.

4) the boar Erymanthus
Scarcely had he returned to the palace of his master, Hercules was ordered to go in search of wild boar Erymanthus. He had to capture and bring alive the court of Eurystheus. The boar was a wild beast that came out of his lair as to devastate the fields of Arcadia.Hercules went, armed with his bow and his club and began looking for the beast. He struck thickets and undergrowth and eventually find it. The ruthless hunt began. He pursued the wild boar to the top of snow covered mountains. There he caught the exhausted animal into a hole he had filled with snow to paralyze him before riding. He mastered his bare hands and bound him. He returned, carrying his heavy load on his shoulders and laid at the feet of Eurystheus, who says it, hid in a jar, terrified at the sight of the monster.

5) the Augean stables
Eurystheus ordered Hercules to go to the Augean stables. King Augeas lived in Elis in the Peloponnese. He was the son of Helios, the sun god and had many cattle he was tending to his kingdom of Elis. The stables, which were kept more than 3,000 cattle had not been cleaned for thirty years. They were encumbered with a manure so thick we could not remove the stench that was spreading around. Hercules was ordered to clean in one day.The hero opened breaches in the wall of the stables, then diverted the river Alpheus and passed its purifying waters and rushing through the stables. He then punched the holes. The stables again became clean and healthy.

6) Birds of Stymphalian
For his sixth labor, Hercules was challenged by Eurystheus to destroy the birds of Stymphalian. These monstrous birds lived in Arcadia in the middle of a swamp covered with thorns and brush. They attacked the locals using the tips of their feathers as arrows and steel feasted on human flesh. Their beaks, their talons and wings of brass. Not content to devour men and herds, the voracious birds devastated the gardens and crops defiled.


Puzzled, Hercules did not know what to do when Athena appeared to him and gave him a pair of cymbals, made the same metal as the beak, legs and wings of birds and forged by Hephaestus, the god of fire. He stood on a nearby mountain and made a deafening noise, flushing out and frightened the birds. The latter fled to the wing, which allowed Hercules to shoot them with his arrows.

 
This was the last work that the hero does in the Peloponnese.

7) The Bull of Crete
Eurystheus ordered Hercules to bring the bull of Crete. Minos, king of Crete, had promised to Poseidon, the god of the sea, to sacrifice on behalf of what he would get out of the waves. Poseidon sent a bull to emerge from the waves of such beauty and such grandeur that Minos could not bring himself to sacrifice. Betraying his promise, he captured the bull and hid in their own herds. Enraged at this treachery, Poseidon made the furious animal. The bull became the terror of the country. Throwing flames from their nostrils, he destroyed the crops and fields burned.Hercules landed in Crete. When he saw the animal, he rushed upon him, seized him by the horns and forced him to bend the knees. The bull resisted, but Hercules was victorious in this titanic struggle, he mastered the animal with a net and carried him, crossing the sea to the feet of Eurystheus.

8) The Mares of Diomedes
Hercules was ordered to go to Thrace, to capturing the mares of Diomedes. Diomedes was a son of Ares and cruel ruler of a nation of savages. He had four mares that vomited fire and grazing in which he cast the strangers that rejecting the storm on the coast.
 
Hercules landed in Thrace and headed for the stables of Diomedes. He knocked the servants who tended the mares, seized by Diomedes and gave food to his own mares, making him the fate he had to endure so many survivors. When they were sated with the flesh of the king of Thrace, the mares left obediently capture and Hercules could take them with Eurystheus.

9) the belt of Hippolyte
The daughter of Eurystheus, Admetus, wanted the beautiful belt that had Hippolyte, queen of the Amazons. To please his daughter, the king ordered Hercules to go get her.


Hercules nine chartered vessels and boarded a troop of volunteers to address the land of the mythical warrior who lived in the distant Caucasus, bordering the Black Sea. The Amazons were a people without a male and had a reputation for mutilating the male children at birth. They united to men, they killed then that to keep their love of the female children they took off one breast so that these future warriors can easily handle the bow and the sword.

 
Hippolyte Hercules first received with great kindness and gave him her girdle as a token of his love. But Hera, disguised as Amazon, spread the news that Hercules had come off the queen. A terrible struggle ensued between the virgin warriors and soldiers of Hercules. Many of these fierce Amazons were killed, among them, Hippolyte was killed by Hercules, who seized the precious belt he gave to Admetus.

10) The oxen of Geryon
Eurystheus demanded that Hercules brought him the oxen of Geryon red giant, colossal, whose sides branched out into three. Geryon was king of Tarlessos, Spain, a city that was located in Andalusia. He owned a herd of cattle of great beauty, guarded by a shepherd, Eurythéon and a monstrous three-headed dog.


In obedience to this new order, Hercules went to the West along the African coast. Arrived at the strait that separates Europe from Africa, he erected two columns, one on each continent, to commemorate his visit. They are called from the Pillars of Hercules. Here, the sun, very hot, inconvenient Hercules, who drew his bow and shot an arrow against him. Amazed at his audacity, the Sun, to appease the mighty man of valor and allow him to continue his journey, lent him the gold cup that carries him across the ocean and the guide to the shores where it ascends to heaven to give light the Earth.

 
Hercules sailed into the cup and then reached the end of his journey. He spent the night in watching the flocks. The dog, alert, barking. Hercules killed him a blow. He suffered the same fate at the cowherd rushed to the aid of his dog, then he let fly an arrow at Geryon fatal pierced his three bodies simultaneously. Victorious, he brought the flock to Eurystheus.

11) Apples of the Hesperides Garden:
Just returned from that expedition, Hercules was ordered to bring to Eurystheus the golden apples of the Hesperides. Daughters of Atlas, the Hesperides lived in a wonderful garden where the trees were laden with golden fruit.
Hercules took the road to the West, but did not know where to find the mysterious garden. He wandered a long time and arrived on the banks of the Eridanus. There, nymphs advised him to go to Nereus. He found him asleep on the shore. Hercules bound him and ordered him to reveal the retreat of the Hesperides. To frighten Hercules, Nereus transformed himself into a lion, a serpent, in flames. But Hercules resisted and Nereus agreed to entrust the secret of the Hesperides.He left the confines of the Western world and reached the wonderful garden. He saw first Atlas, who held his head and hands the vault of heaven. Hercules asked him what was the means to seize the coveted apple. The giant offered to go pick them, but on two conditions. The first was the Hercules rid of the dragon Ladon, the hundred-headed monster, keeper of the garden. The second was that the hero dump his load while he would pick the apples. Hercules agreed. With one arrow, he pierced the hundred heads of the monster, who died at once. Then he put the heavens on his mighty shoulders. When Atlas returned with the precious apples, he said want to wear them himself to Eurystheus. Hercules pretended to agree, but asked Atlas to take a short time the sky, the time to slide a pillow under his head. Then he took the golden apples and ran to bring his booty to Eurystheus.

12) Cerberus, Guardian of the Underworld
As a final test, Eurystheus asked Hercules to come down to the Underworld and bring back Cerberus, the watchdog doors groundwater.
Athena and Hermes escorted him to hell. He reached the Styx and crossing large rivers of fire, he reached the foot of the throne of Hades. This allowed him to take Cerberus to the light of day if he could take control of the animal without the aid of any weapon.Cerberus was a monstrous dog who had three heads and whose body ended in a dragon's tail. His voice sound of brass terrorized all who approached him. Unarmed, wearing only the skin of the Nemean lion, Hercules came before Cerberus. He seized him by the neck, just where the three heads met and although bitten, squeezed so hard that the dog, feeling stifled, decided to follow the hero. Hercules went on the animal and pulling it out of the abyss, came to show it to Eurystheus. Terrified, he ordered the monster to return immediately to Hell.