Being Clueless

You have an idea that is great and a team which you think is the best in the world, and so you have decided to go for funding for your idea. You need to stop and think about this thoroughly. You are not going to some loan sharks, who care only about the interest, here; you are going to people who are very experienced and well versed in the business field, who wants to be a part of something that is going to be big. If you do not pitch right they will rip you apart before you could say ‘wait’ and you will end up giving a huge stake for them in your company. You need to know every single aspect about your company, its target customers, industry and the movement of the economy as a whole; moreover, you need to have some leverage in your hand. If your company is in ecommerce space, then do not go with your idea, start small and run for some time, say six months and go for funding with a cash positive balance sheet. This makes a point, you have proved and now you need funding to take it to the next level. This gives you a bargaining power that you never had before.