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Don’t Tell an Investor That!
Posted by Chris Knudsen on April 25th, 2006
Here’s a handy list of things not to tell potential investors:
- We have no competition
- Our projections are conservative
- We’re going to sign a contract with (insert Fortune 500 company here)Â this week.
- Our competitors can’t move fast enough or they are too big to move fast enough
- Key employees will come on when the money is in place
- We have first mover advantage
- All we have to do is get 1% of the market…
- Our patents (partners work here as well) make us defensible
This is such a great list. I can’t tell you how many times I have heard the above statements made by people looking for money. Education is the key to success. If you are going to raise capital for your company get educated before you make a fool out of yourself in front of the wrong people.
Note: I didn’t come up with all of these points and I can’t remember where I got some of these tidbits of wisdom so I apologize for not giving credit where credit is due.Â
“This is the next big thing, Chris. I sweat it!”
Left by blake on 04/25/2006