A good concept is one thing, but investors are more likely to consider these three criteria – and they can make or break your pitch.
Once again, reality TV is getting it wrong. Thanks to shows like ABC’s Shark Tank, too many wannabe entrepreneurs think venture capital comes after a great idea, and then the product follows. In reality (not the TV kind), companies rarely start that way.
Most start-ups that transition from concept to viable product get there through bootstrapping and loans and nest eggs and prototypes and calling in favors. These are the efforts that can lead to outside investors.
In other words, entrepreneurs need to build something and demonstrate it before financial backers can be expected to believe in what they say. Investors typically focus their due diligence on the three Ps.
…to read this article in full, visit leading US entrepreneurial resource, Entrepreneur.com