What’s the one thing I should do to raise capital?
Monday, August 3, 2009/
Many well-intentioned and even potentially viable entrepreneurs and projects make themselves not viable. The ones that become viable are ones that seek good advice, listen and implement it to meet commercial expectations of viability.
If consultants could highlight what ‘viability’ means is a good start to entrepreneurs, because many have no real idea about this. You can have a good product, a good market and perfect timing and even a good presentation, and achieve nothing unless one is perceived to have true commercial viability. And you can’t bluff this with enthusiasm.
Viability is the soundest reasoning to be constructed in the process and end presentation of a potential venture. Viability covers all angles including the investor’s needs, the consumer’s perspective, the management capability and the business plan. Entrepreneurs must seet it from all angles not just one’s own – then they are on the track to becoming viable, and that’s what gets the money in the end (providing you can get exposure to the right type of investors, and that’s another story).