Are You Stopping Your Own Success?

Stopping Your Own Success - Complete Controller
  1. Only mass mailings

Mass mailings to the email addresses of funds and business angels will surely get investments in a start-up. Investors love this kind of thing, especially when they copy-paste in the text or see the addresses of other investors in the open copy. For them, this is a sign of the highest efficiency of an entrepreneur who does not waste time studying the individual characteristics and investment focuses of the participants in the correspondence but immediately gets down to business. LastPass – Family or Org Password Vault

Receiving the answer: “Good afternoon, your application is under consideration; we will contact you if we are interested,” you can be sure that the money is already in your pocket. And let the spiteful critics say that this is an automatic response of the mail service – they are simply jealous of your success and enterprise.

  1. Not a word without an NDA

Always ask the investor to sign an NDA before starting negotiations, even the first meeting. Don’t be misled by requests to see a presentation or materials “just for fun” and assurances that the investor has probably seen this many times before and will see it an infinite number of times after. After all, investors regularly embody the most successful ideas independently, deftly deceiving an unpretentious entrepreneur. Indeed, you have a brilliant idea that you can steal.

  1. Only weaklings change their minds under the pressure of hard facts

Commitment to your idea is the main rule of a true entrepreneur. Devoutly following it and believing that only you understand how to bring an idea to life and build a great company will also help you communicate personally with investors and mentors. Vigorously defend your positions, do not accept criticism, and do not show that you are ready to bend under the capitalists and make changes even to the business model, not to mention reconsider the idea. Perhaps this will scare off the wrong investors who do not appreciate such qualities of a real entrepreneur and are afraid that this will lead to conflicts in the future. And let the envious call it a lack of flexibility and perception of reality. Download A Free Financial Toolkit

  1. Take more immediately

When it comes to how much money you need to start a project, ask and take as much as possible. Firstly, you have several years of work ahead of you to bring the project to life, and secondly, there is never a lot of money.

  1. Embrace high founder salaries

A natural entrepreneur knows what kind of cars are in trendy co-working spaces and that you can’t buy one with a paycheck “to keep your pants up.” By the way, having received the first tranche, plan your vacation in a good place. The tired head of the company does not think well – allow yourself to rest.

  1. Impromptu is a well-known key to success

Have you ever heard that you should save your most essential investors for later and start practicing pitches on your grandmother? And that’s for losers, too. A natural entrepreneur does not trade for trifles – he immediately catches a big fish. Suppose the investor does not understand you the first time. In that case, he will continue to communicate until he understands precisely what problem you are solving and how, as well as what your advantage is about existing analogs, competitors, and substitutes. And if you fail to do this at the first meeting, you will always prepare and schedule a second and third, if necessary. After all, it is an investor’s job to find nuggets because of painstaking work with entrepreneurs.

  1. Write in text, write a lot, and leave pictures for children

Have you ever heard of Guy Kawasaki’s rule for successful 10/20/30 presentations? Ten slides and a font size of at least 30? It’s all nonsense! Packaging all the material on the project into ten drops in this format is impossible. In general, as already written above, personal meetings and pitches are extra, but if you still run into an investor at a venture party, give him a project presentation. After all, you still can’t tell a lot of essential details in a few minutes. And yes, do not save on paper – print your presentations in total. One of the last presentations I held in my hands consisted of 50 pages, which I carefully read. After all, the project’s author saved the most interesting for the second half. ADP. Payroll – HR – Benefits

  1. Speak in an incomprehensible and scientific language – show your expertise

Do you want money to commercialize the technology? Surround yourself with professional investors, even at this stage and among business angels. They already know everything about the market and its problems, so instead of talking about banal things and chewing, you can immediately move on to the details.

  1. You are a star!

Everyone should know about this. Friends and partners do not believe in you, and former classmates do not want to do business with you. It is what investors are looking for! They like to invest in self-centered loners.

  1. Splurge – duel is for wimps

Do not be afraid to throw dust in the eyes of a future investor. Embellish everything – the uniqueness of the idea, the assessment of the market, competitive advantages, and other things that no one will ever double-check. You were asked an uncomfortable question after the presentation – a lie. An obvious lie? Ask to sign an NDA before disclosing details. And if they discover that you embellished the numbers and said something directly opposite to the facts, they will appreciate your ingenuity and ability to dodge. The goal of an entrepreneur is to make money, and the purpose of an investor is to invest money for profit. Therefore, relationships initially based on mutual trust are necessary for developing a serious business, and you do not need them.

  1. And, finally, the most crucial lousy advice. Always get only your own experience

He is priceless. Education is for the weak. It is better to go through many attempts and iterations in just 40 years. But for sure.

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