As an entrepreneur, you are in constant “sell mode”. Each human interaction – a lunch meeting, a formal presentation or a surprise encounter with an old school friend while wandering down the street – is a chance to ‘sell’ your idea, product or venture.
I use “sell” here in a broader sense.
When […]
The following is an unedited draft of a regular column – Neely Ready – that I write for Australian Anthill, a new-ish magazine with a focus on innovation, commercial enterprise and breakthrough technologies. I will post articles or article excerpts from time to time, as well as other pointers to great content in the magazine or its web site.
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Are you ready for it?
The statistics are disturbing: a typical venture capital (VC) firm receives around 1000 business plans a year, and quickly rejects 90% without a detailed review.
The problem is not a shortage of investment funds – money will always be available for promising investment opportunities. Rather, most entrepreneurs do not understand the expectations and requirements of VC investors and are unable to communicate their business proposals as attractive investment opportunities.
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