A lot of people these days are trying to start their own business. However, there is one constantly persistent problem, which haunts the dreams of everybody – where do I get money?
There are a lot of opportunities, and most head for the so-called Venture capital or Risk capital investors, who are ready to feed you with a hefty amount of money, provided that you appeal to them. This is no easy task, and you will probably have to wage bloody competition with around a 1000 other enthusiasts. However, once you are in for the interview, you have a real fighting chance.
The first step along the way is application. This is the biggest fight, as you will most commonly not have any social interactions with the investors at this level, and you will need to prove that you are good only in text and video form.
You should prepare your business plan well, lay it out in as little words as possible, and make sure that you are not selling monkey diapers, because we all know this idea failed a long time ago. A good YouTube clip is always a great idea, because they would like to see your face and hear your voice.
And that is it – you are called for an interview, you are set, you are the greatest!
Well, it does not work like that. Even if you manage to fight off the first 900, you will be called to an interview with about 100 more participants, and you will need to face your greatest fear – the investor, who has no idea what you are doing, but he read money somewhere along the lines of your application form.
This time around, you will need to be concise and short about what exactly your company is going to do and make sure you have projected your financial operation for at least the next year. With a lot of luck, you are in the final twenty, who will get to make their pitch.
The last part might be against the fewest teams, but it is the hardest, because you will need to explain your idea, your business plan and possibly even your family life in as much as 3 minutes. Afterwards, in the next 15 minutes the investors will make sure they crucify you with questions, most of which you have already answered, but they aim to confuse you.
You do not have to be prepared, you just need to be as calm and confident as possible. Even if you fail, many do on the first try, at least you will know firsthand what you are up against.
Obtaining the risk capital investment is definitely no easy task and you will see that you are not up for the job on your first try, unless you have already worked in the field as an employee, and you have studied a lot.
However, with experience comes power, and if you really believe that your idea …Read more