Over the last year I’ve had correspondence with ~20 investors from around our little planet; in person, over the phone/skype and via email. Each one is unique and beautiful like a snowflake, and like a snowflake each one melts when exposed to heat. Some of the investors I’ve spoken with are ‘mid’ and ‘late stage’, meaning they put money into companies that have already generated some revenue. Others are ‘seed’ and ‘early stage’ investors; these are the ones I have a bone to pick with as they are supposedly the most open to risk. — (In fairness, criticism and rejection are among the most valuable things an entrepreneur can hope for)
Venture capitalists (VCs) will tell you they require the following for them to consider investment: 1) a large and preferably untapped market to address, 2) a diverse team of dedicated, tenacious and experienced people, 3) some kind of traction such as strong relationships with potential customers, and 4) a product/service that is cool and does something original.
Yeah? Then put your money where your mouth is, people !!!
June 2013 editor’s note; VCs are wise.