So you have a new and wonderful idea, perhaps, to save the planet to solve the mystery of life, create an object, you make a better cookie, or just make everything better for mankind. Great!
This, of course, are things that you want, but do not want to hear what a Venture Capitalist or VC. They want to hear about your market and who you are selling to, how much will it cost, and if there really buyers. Most VC's do not care about your dreams, are important to them alwayshighest rate of return (ROI) they can on the investment.
Keep them in this picture? Well sort of. Check whether you intended to secure the best representatives of the company for its success. If not, you will be replaced because of the success must be reasonably assured. When you open a restaurant, for example, and your appearance is disheveled and your behavior is erratic or not responsive, then you can expect a big NO! If you prefer a high-tech companies into consideration, and you think everyonereally want a head-mounted computer system, assume NO do not go to the meeting, and you will remain a very happy man.
The reason I bring to everything, if you have an American Idol observer you should understand now that is very simple. You see 10,000 would find singers, and fewer than 25 make the cut because it does not check for a successful audition and had most of the ideas or singers can not sing easily. I have to many VC's meet in my career and the more I andtalk to them, the smarter you become.
These are simple people. They are either immediately see dollar signs all over you and your idea or they do not. There is no middle ground, which I find reassuring. Meaning that I would rather receive a hard NO with reasons I can think, as one might never really know, or something. While Simon is on the AI, deeply cut, when he says that one of the participants that "you just can not sing!" He tells them that their chosen path is not only stupid andwasteful, but not immediately in their knowledge and talent base reached, as a VC would. It is cruel, but I've been in the room, where 25 groups with an incredibly bad idea, no research, no evidence and no real differentiation, but a dream, and just threw the money they had in the hope of an immediate ring of gold.
The mind tricks us sometimes terrible.
You have to think clearly. You need to have honest opinions of people, the true experience in the field, you will receiveInput and they will tell you the truth. I have told many people, taking into account that VC "Hope is not a plan!". However, the following:
You need to sit down and put your thoughts down on paper.
You need to read someone else and see your position on whether it holds water, to argue.
You must read and research what you are against a market, industry or the support of an idea.
You've got the needed assistance to the areas you are weak in coverage, takes it as self-conscious.
You musthas a budget that details to see if you miss come up with something.
You need to find out about your idea or plan.
You need to calmly try it for other reactions.
You need a patent or trademark beginning including provisional patents for the protection.
You need to prepare like an athlete for a VC.
You need to be rested, confident and well rehearsed - you only have one chance to impress.
You need to present themselves as respectable, and you will be respected - the plan ofcomplete success.
You need to know who might be your competition.
You need to describe what makes you so different, so think about this morning.
You have to understand what a "barrier to access is" in your planning
You must understand, the advantages over others, remember it is their money immediately.
Your present plan should have a logical sequence, so that they get it quickly.
You need to write an elevator pitch to see if you can plan your entire trip in a time of up to explain.
Youmust prepare a detailed version of the elevator pitch for a group, understood as well.Finally and most important ... if you really have something (as by others not verified) waiver, do not run away, do not give up. Stand your ground, because your endurance to win more than anyone else will only weakness! Learn from your mistakes and adjust your plans quickly.
Now you go out and make the world better!
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