Get the Money: Prove Your Worth
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Get the Money: Prove Your Worth
While there are literally hundreds, if not thousands, of venture capitalists out there with money to burn, they're obviously not knocking down your door to give you money. There are even more companies asking for financing than there are investors, so in order to get the funding your business needs, you'll have to have a competitive advantage.
Are You Worth Your Salt?
You may think you're the next Bill Gates, but can you prove that to venture capitalists? VCs aren't afraid of a risky investment, as long as they can easily see the potential for growth and profit. If your company is just like every other company in your industry, you'll have a hard time proving that.
Brainstorm
Before seeking financing from a VC, sit down and make a list of the competitive advantages your company has. They may include:
- Making your product cheaper than competitors
- Offering function no other company has
- Customized design or product
- Technology that is about to hit (riding the Web 2.0 wave, for instance)
| Guru Spotlight |
| Carma Spence-Pothitt |
