Only mass mailings
Mass mailings to the email addresses of funds and business angels are a sure way to get investments in a start-up. Investors love this kind of thing, especially when they feel 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.
Having received the answer: “Good afternoon, your application has been accepted for 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.
Not a word without an NDA
Always ask the investor to sign an NDA before starting any, 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 infinite times after. After all, investors regularly embody the most successful ideas on their own, deftly deceiving an unpretentious entrepreneur. Indeed, you have been visited by a brilliant idea you can steal.
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, 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.
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 to bring the project to life, and secondly, there is never a lot of money.
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 salary “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.
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 what problem you are solving and how and what your advantage is over 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, an investor’s job is to find nuggets because of painstaking work with entrepreneurs.
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 font size of at least 30? It’s all nonsense! It is impossible to pack all the material on the project into ten slides in this format. 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 that 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.
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 even among business angels. They already know everything about the market and its problems, so you can immediately move on to the details instead of talking about banal things and chewing.
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. You are what investors are looking for! They like to invest in self-centered loners.
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 – just lie. An obvious lie? Ask to sign an NDA before disclosing details. And if they find out that you embellished the numbers and told something directly opposite to the facts, they will appreciate your ingenuity and ability to dodge. The goal of a real entrepreneur is to get money, and the purpose of an investor is to invest in a dream. Therefore, relationships initially based on mutual trust are necessary for developing a serious business, and you do not need them.
And, finally, the most critical 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.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.