The best business ideas often fail for a simple reason: lack of sufficient capital. Many entrepreneurs often think it’s enough to acquire a bank loan or use credit cards to successfully finance a new venture. In almost all cases, it’s not enough. Smart entrepreneurs know that success for a new idea is only possible when backed by an infusion of “serious capital” – big money. That’s especially true if the new venture is capital intensive.
But, where can you get that “big money?” You may be able to get a large enough bank loan to finance your idea … or you may be someone who can acquire very high limit credit cards. These days, however, those options may not be viable unless you have an exceptional credit history. And even if you have the right credit rating, you still may not be able to access enough cash from either of those two options.
Your best bet may be to find an individual (Angel Investor) or company (Venture Capitalist) that is willing to invest enough money to get your idea off the ground. Such investors exist – even in these difficult times – and will readily back your idea if they believe it has potential.
Of course, you’ll need to be prepared to show an investor a Business Plan (see Business Plans That Work) and Financial Projections (see Financial Projections and Budgets) in order to convince him that your idea is viable.
Davidoff & Associates can help you find an investor that specializes in your industry … and we can help you prepare to meet with him. In fact, we’ll introduce you to one investor at a time so that you can properly assess your compatibility with this investor … your approaches to business problems and opportunities … and your overall business philosophy.
We’ll also coach you on how to impress a potential investor with the documents you present to him … with your general attitude … your enthusiasm … and your overall business acumen. You’re “asking” for a significant investment and you have to prove you’re worth it.
To that end, we’ll help you prepare an Investor Presentation. If it doesn’t work out the first time, don’t worry. We’ll continue the process until you get a willing and able investor. And we will find one for you. Our current success rate is 85%.