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<\/p>\nBy Chris White-Smith<\/p>\n
<\/p>\n
Personal record – Played 3 \u2013 Won 1, Lost 2<\/em><\/p>\n So mid-table mediocrity in the league of successful funding. On what basis, therefore, my right to posit about the tactics for success? Simple – Failure.<\/em><\/p>\n The most successful entrepreneurs fail brilliantly. Perceived wisdom suggests that if you\u2019re not failing, you\u2019re too cautious and caution is the first turn off for investors. On that basis, I\u2019m in\u2026.<\/em><\/p>\n One chance with a potential investor, probably one minute, 5 at the most, so you\u2019d better be prepared \u2013 prepare to blow\u2019em away, and prepare for plenty of no\u2019s, not because your idea isn\u2019t great, more the ratio of opportunity to investment most make. I put your chances on average at best 1:100, so don\u2019t fear failure. Its nothing personal.<\/em><\/p>\n Channel that fear to adrenalin and passion. But watch out for dilusion, a fast track to fanciful planning. Fact – Investors won\u2019t believe your plan, however \u2018genuinely realistic\u2019 you believe. They\u2019ll slash it, and give it the once over. If it passes first muster, they\u2019ll halve it again. If it passes again, you\u2019re chances just increased by a smidge.<\/em><\/p>\n All adds up to a massive adrenalin rush. So if you ain\u2019t got that hit, you shouldn\u2019t be in the room.<\/em><\/p>\n 9 out of 10 start ups don\u2019t make it, for a million different reasons – Investors know that too. The passion for success must be shared, so invest in your investor for value-add beyond cash – its a rollercoaster ride, and you\u2019ve got to feel them feel it.<\/em><\/p>\n So my top 10 tips for maximizing your chances: (by-passing the \u2018Have a great idea\u2019 bit):<\/em><\/p>\n 1. Prepare for no\u2019s<\/em> I was lucky once. I\u2019ll take that\u2026<\/em><\/p>\n Good Luck!<\/em><\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" By Chris White-Smith Personal record – Played 3 \u2013 Won 1, Lost 2 So mid-table mediocrity in the league of […]<\/p>\n","protected":false},"author":2,"featured_media":96706,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[269],"tags":[],"class_list":["post-96705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pr-insight"],"yoast_head":"\n
\n2. Invest in your investor<\/em>
\n3. Be tight with your equity<\/em>
\n4. Borrow small. Crowdfund as last resort<\/em>
\n5. Blow away pitch \u2013 5 mins max to hook them<\/em>
\n6. Prove the market in the gap \u2013 No blag\u2026they\u2019ll find it<\/em>
\n7. Believe at every stage<\/em>
\n8. Be confident and passionate, not arrogant<\/em>
\n9. Be clear on the exit<\/em>
\n10. Be Lucky<\/em><\/p>\n