3 Essentials to
Funding
1.
1. Not
Just Big – Scalable
Your idea must have the potential to grow big
in order to get Investors interested. They need a minimum of a 10x return to
break even on their overall investments. Even then, they are looking for
promises of more because they know how often even 10x projections fall short.
2.
2. Traction:
Some Proof of Acceptance – Patent/Likely Acquirer
Your idea might be brilliant but if no one
wants it you don’t have a business. Find a way to
show that customers of some kind somewhere want it. Otherwise you are relying
on the judgment of Investors and they are not likely to trust their judgment
unless you can show them there is a line of willing takers somewhere. Patents
that are likely to interest partners or protection against competitors, help
too!
3. Execution: A Team That Can Make it
Happen and a Comprehensive Plan
Ideas don’t come alive on their
own. Either you are uniquely qualified or you can attract a team to make our
plan work. Ultimately, the Investors are likely to choose doers over thinkers.
Ideas don’t get funded but people
with ideas do. If you can show that you know how to get things done and get a
competent team to follow you, even a mediocre idea can get funded
