Ditch the business plan and buy a lottery ticket. That’s the advice I give new entrepreneurs who seek venture funding. The odds are better, and you’ll get results sooner with the lottery. If you have a great idea that can change the world, then bootstrap your way until you can prove it. Funding will come just when you don’t need it.A myth propagated by business schools is that the way to build a venture is to create a great business plan, perfect your elevator pitch, and present this to venture capitalists. If that doesn’t work, you knock on the door of angel investors. Ask any entrepreneur who has called on venture capitalists and they will likely tell you that it is almost impossible to even get calls returned.
via Startup Fever.
Photo by killrbeez.
jaeda on September 2nd, 2008 at 5:16 pm
“Funding will come just when you don’t need it” it is very true.