Happy February!. I hope 2021 is off to a good start for you!
A journey of a thousand miles begins with a single step.
Every day venture capitalists (VCs) sit through multiple presentations from entrepreneurs.
And the process inevitably makes them cynical. Why? Because the vast majority of the claims made by the entrepreneurs presenting to them never come true.
So, keep in mind that a VC will not fund you, or even really listen to you, until they know you, like you and trust you. So, even if you have the greatest idea or company in the world, it won’t matter first if you don’t first get them to do this.
Forget Old School!
The “old-school” way of raising venture capital is DEAD!
And that’s why I created this page for you… to show you how to do it right.
There’s a common mistake almost every entrepreneur makes… and if you approach venture capitalists like most entrepreneurs, you’ll NEVER get funded.
Today’s Question: What inventor was expelled from school for experimenting with explosives?
Previous Question: What was plastic first used for in the United States?
Answer: Billiard balls.
Competing for a $10,000 prize to find a substitute for ivory billiard balls, brothers Isaiah and John W. Hyatt developed celluloid billiard balls in 1869.
Many businesses today still offer contests with cash prizes to develop new products, find creative marketing slogans, design logos, and more. For example, in 2009, Netflix held a contest for developers to come up with a better algorithm for predicting ratings. The winner came up with an algorithm that was 10% better than the one Netflix was using.
So, don’t be afraid to use contests to help build your new products and/or to come up with new marketing ideas and designs (but be sure to adhere to legal and/or sweepstakes rules).
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