Tuesday, August 2, 2011

Asking funds and who is qualified to ask for

Usually an investor will answer you after he can see that:

a). you are registered as a company (or any legal entity), and therefore you are committed to your project in fact, not only as an intention to do something,

b). you have a good business master plan, which means that you already invested some resources and expertise, then did your homework and researched the market, for the SWOT (internal Strengths, Weaknesses of you, and external Opportunities and Threats that you will meet on the road),

c). you have a team (for example an engineer, an accountant, a lawyer, etc) which will support you - because NOONE will give money to a "solo dreamer" to spend it, all that you receive is for the running business expenses of the whole team involved into the project.

Is that enough ?

No, of course, because a lot of people around are just solo dreamers, wanting big checks for spending (by themselves alone), like searching for a rich employer to "hire" them, to have them as "CEO"-s of their own dream company, and so on.

This is not going to work this way, despite of how sweet and nice could you make a PowerPoint presentation about your project !

Ah, and don't forget:

d). if the investor, after 6-12 months from now, still see you active in the same project, you could have a lot more chances to hear you and look after what you've done and what steps you have made.

Because when asking for the funds, you must "talk the talk, and walk the walk".

For short, lazy people don't get funded.

Don't imagine that your sudden big need for money makes a complete stranger to suddenly become a best friend of you. No way.

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