Entrepreneurs spend their time focusing on the product or business model, which is great because it is very important. However, in your planning take time to think of how appealing you are as an investment opportunity and what are you doing to ensure you can build a relationship with your investors.
- What do you want from an investor?
- What do they want in an investment?
- How is your company appealing as an investment?
The investors that want to invest for a return will help you as needed, will act as a sounding board for any bigger questions you have and/or will provide any introductions to make you successful. If they don’t, then they may not be the best investor for you.
Then there is the other extreme, some entrepreneurs focus too much on appearing as an appealing investment that the investors find that there is not much ‘there’. ‘There’ being the product, concept, claimed customers, management background or business model.
Remember if you have a great product or technology that is (or can be) appealing to your customers, it is being utilized AND you have a bigger vision with an understanding of how to execute on it, then that is worthy to kick off a discussion.