How do you know when it is time to make a pitch to potential investors? It can be difficult to give up a portion of profits or even worse control over something we have worked so hard for. I will give it to you strait, if you can get over yourself, now may just be the time to make your big pitch to a new investor.

Let’s face the facts…

Face the fact that you have a great idea, product, invention, or company. If this is not true for you, then go back to the drawing board.

Face the fact that if you’re going to make it big, you can’t be the board chair, CEO, CFO, COO, designer, marketer, administrative assistant, and the janitor all by yourself. Learn to get over your pride, and work from your strengths. Ask yourself, why you are doing what you are doing? Do you enjoy it; do you want to make money; do you want to change lives? Now ask yourself if you could accomplish that better with the assistance of other people. Finally ask yourself if you are willing to give up control.

Face the fact that you do not have the capital to grab enough market share before your competitors catch on to your innovation. I am sure you have a great business plan, but it still takes a long time to build capital. While your business is growing someone else with capital funds has the opportunity to jump ahead of you and grab the market share. If your idea is really good (and since you answered yes to number one I assume it is) then you need to go big now.

Let’s face it you need to raise capital; you need investors. The only thing left to do is identify potential investors and prepare your pitch, two things I am hoping to write about in my next posts.

This entry was posted on Wednesday, September 12th, 2007 at 11:24 pm and is filed under Innovation Tools. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.