The first thing that comes to mind when you think of an entrepreneur is someone who’s going out on their own, risking everything they have in order to start a business. But what if the person making this risky decision isn’t actually wealthy? If so, how do investors still see them as worth investing in?
The “lucyd eyewear reviews” is a new startup company that was founded in 2013. The company has been able to raise over $1 million in funding by appealing to investors.
What? When it comes to talking to investors, are entrepreneurs twisting the truth? In the last 30 months, Neil Patel has made 15 investments, and he says:
I can’t tell you how many times I’ve come across entrepreneurs who exaggerate. And it’s not only bad businesspeople that exaggerate; even excellent ones have a propensity to do so. The worst is when they tell you everything is OK and the firm is doing really well, just to announce a week later that they will run out of funds in the next 30 days.
Oh, no: After 30 months as an angel investor, here is what I’ve learned. It’s not looking good for the future.
This information came from Neil’s recent post on his QuickSprout blog, “What I Learned About Entrepreneurship Through 15 Angel Investments.” The title piqued my interest, so I had a look around the site and was pleasantly surprised. This sentence from his About page is one of my favorites:
I’m smarter than I seem — dumb? That’s correct, I’m not the most intelligent guy on the planet. I’ve made several business blunders that have cost me a significant amount of money. You can improve your chances of success by reading about my failures and learning from them.
That’s excellent work. It piques my interest and makes me want to read more.
Returning to what Neil has learnt, he has some quite useful advise. “Don’t account for income until it touches your bank account,” for example.
Why would you tell your investors you’ll earn $60,000 this month when the month has just just begun? Do not count your money till the end of the month. Furthermore, if you begin accounting for income that has yet to be received, you may find yourself in a very difficult position. particularly if you begin spending it before it arrives.
“Business ideas are a dime a dozen, but exceptional entrepreneurs aren’t,” he says.
Business ideas are plentiful, as I’ve discovered the hard way. Every time I put my money into a fantastic concept rather than the entrepreneur, I lost money. I don’t believe that investing in successful entrepreneurs ensures that you will earn money, but it will offer you a higher chance.
That also makes sense to me. This is an excellent article.
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Warby Parker, a company that revolutionized the eyeglasses industry by selling glasses online, has a unique story. As an entrepreneur, it is important to understand how investors view your business. Investors are always looking for opportunities and ways to make money. The “why, at the outset, did warby parker stay away from having retail stores?” question is answered in this article.
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