22/09/2022
One time for the sense in this👏🏾👏🏾👏🏾
I HAVE A BRILLIANT BUSINESS IDEA BUT NO CAPITAL
First, you should say “I THINK I have a brilliant idea.” As long as no one has paid for your solution, your idea has not been validated, and is only brilliant to you.
But why isn’t anyone investing in your brilliant idea?.
THE MONKEY WITH A MACHINE GUN (GOING INTO BATTLE) - I just came up with this, to make it simple to understand
When you tell an investor that you have a brilliant idea, he will first look at you as a monkey with a machine gun. What you have is a very brilliant tool to use for battle, but can you trust a monkey with a machine gun. Can a monkey use a machine gun effectively? What if he shoots his teammate?
You have a good idea, okay, but can you execute it?
Investors do not invest in ideas but people. When running a startup, everything that can go wrong will go wrong, an investor needs to know if you are the person who can overcome these unforeseen circumstances.
An investor will ask himself/herself these questions…
Do you have the balls to make this idea a success?
Who is on your team, does your team have the necessary skill-set required to successfully run a business? accounting, sales, marketing, business development, growth hacking e.t.c.
How much of your own money have you invested?
Have you run a business before (or you want to experiment using someone else’s hard earned money)?
What progress have you made so far? Apart from talking and writing your idea on paper.
YOUR IDEA WONT GET FUNDED (FOR NOW)
In developed countries, you can get your idea funded, pa zed, the economics are different. You need a running business not an idea. Start small, think big. Investors will come in to grow your business, not to try out an idea.
If you have run a successful business before and/or have a very high net-worth network, you can get your idea funded. But if its you first time, get your hands dirty and start doing something to prove yourself first.
Did you know that as much as entrepreneurs are complaining that there are no investors, investors are equally complaining that there are no entrepreneurs to invest in.
INVESTORS DON’T INVEST IN IDEAS BUT IN PEOPLE. ADD VALUE ON YOURSELF