If you take a moment to consider the various mistakes that new entrepreneurs have made, what would you say is the worst? According to VatorNews the top mistake that entrepreneurs make is trying to raise money from various VCs before they are truly ready.
Before they go out to VCs, entrepreneurs should build a product, build a team and get some traction to demonstrate what they’re doing. “Put your story together and show some proof points,” said Jeff.
What are questions entrepreneurs should ask investors? I asked.
Ask them how much they know about your business, pain point and industry, Jeff suggested. In fact, you might go as far as talking to CEOs of companies the VCs have invested in. “It’s a marriage and you want to do your homework before entering that marriage.”
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