Most businesses fail. But, many of the businesses that will eventually fail are the same ones that ask investors and VCs for funding. As a result, many investors are wary of trusting a stranger or an unknown business with their money. They know the numbers, and they know that only special organizations will survive over time.
In this video, Entrepreneur Network partner Peter Voogd talks with millionaire Tim Sykes about what they look for when investing in a new company and how you can impress them.
The biggest takeaway? Be specific and pay attention to all of the details. Know your pitch inside and out. Know how much money you need, how you’re going to use it and how the investor will see a return on his gamble. Even just making sure your laptop is charged can make the difference between getting the funding you need and not, because investors know that the business leaders who can’t manage the small things, often shouldn’t be trusted with big piles of cash.
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