One of my top financial consultants recently cc'ed me on an email response to an entrepreneur looking for investment capital. I thought the response was so good I got his permision to post it here.
This email could be addressed to about 70% of all entrepreneurs when they come to us form money. You must learn sequence and what you need next! And most of the time it is NOT money.
Please read and let me know your thoughts!
It all depends on what you honor more….where you are now, or where you want to be in 6 months.
In order to gain access to capital, one has to get belly to belly with an investor.
When belly to belly, you have to have the language of capital in order to be a magnet for money. It matters not, what the idea is.
Also, one has to have the team in place, the proper sequencing etc. I think you said it best when you said, often times, it's what you don't know that you don't know that is toughest in business.
I like what you're doing, you are just not ready for an investor right now. That's not personal, it's just a fact of the matter at hand.
I know you're smart enough to realize you have to go to where the money is. You're just not as likely to find it at the local chamber mixers. Money hangs around money. When there is a Country Club of investors, money is not only found, but it's in abundance.
I can accept that you feel you can find it. I respect that. I wish you well in finding it. When you do, their probably going to get a pretty good sized piece of your company. Who knows what that will cost you in the long run. Let alone what you will pay for consulting once you get the monies.
I apologize that you do not appreciate me trying to save you time, money, and frustration of getting every thing you need for your business. That's OK. I don't take it personally. Not everyone resonates with what we do.
What I would suggest is becoming a member of the Angel Network. Over the next 18-24 months, you will get some very good tips as to how to talk to investors. You'll start getting some traction if you follow through.
Another thing you can do is go back to CEOspace.net and view a few more of the videos. You might find some that resonate with you more and you may begin to see exactly why we were able to help raise over $3 Billion for our members, in one of the worst economies since the second World War.
As the largest, and the oldest organization of it's kind in the world, we'll be here for you should you or someone you know ever need us.
To Your Success!