23/01/2023
The Hard Truth…
A lot of aspiring entrepreneurs & founders aren’t going to want to hear this.
Stop wasting your time.
Stop trying to pitch your idea and revenue projections to VCs & Investors.
VCs invest in solid teams, customer traction, & revenue growth- not ideas & projections.
Instead of wasting your time chasing investors & asking for money, roll up your sleeves, get to work, and try this instead…
✅ Network to find Co-Founders, Partners, & Advisors to build your team
~ One of the first things an investor wants to see is your team. Sell your vision to people and resources that can help you bring your concept to life. Investors want to know who is going to be executing to get them an ROI?
✅ Develop your MVP and prove your concept
~ Use bubble gum, duct tape, or whatever it takes to bootstrap and launch your concept. If you haven’t launched, you won’t secure investment (outside of maybe friends & family). You may have to deviate from your grand vision slightly, but just get launched.
✅ Find customers & build strategic partnerships
~ Find customers that are willing to pay you for your service or product. Build strategic partnerships that help you find new customers, create credibility, and awareness to create traction. This allows you to capture data and helps you…
✅ Know your numbers
~ What is your CAC? What is your customer LTV? TAM? COG? If you’re not sure what these abbreviations stand for, let alone how to calculate them for your idea/concept, you’re not ready for an investor. You have to know your unit economics.
I’ve worked with a lot of entrepreneurs and founders over the past decade, most of those that have successfully accomplished the processes above were eventually able to find investors if they still needed them.
If you’re not sure how to organize and execute these processes, ask for help.
Credit : Tim Ed (Angel Investors)