More Options in Raising Capital
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The subscription service is currently unavailable. Please try again later.A key to surviving and succeeding as an entrepreneur is to have fallbacks – secondary strategies to employ when the primary strategy fails to achieve the desired result. This is particularly true when raising capital. An entrepreneur who walks away from a pitch with no money is normal. Statistics on bank applications and angel presentations show that over 95% of the time the pitch will fail. The entrepreneur must pick themselves up and dust themselves off and go pitch again.
The single most common reason that an entrepreneur fails to obtain capital when making a pitch is that they are pitching to the wrong capital source. The deal that the entrepreneur has to offer does not match the criteria of the investor.
As an example, many entrepreneurs will apply to pitch at the local angel capital club. Many of these clubs have set high thresholds for desired increases...
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