To acquire knowledge, one must study; but to acquire wisdom, one must observe.
~ Marilyn vos Savant
If you’re raising funding from a bank, usually you’ll choose the bank with the lowest interest rates.
And as long as you make your periodic payments, you’ll probably never hear from them.
But choosing an equity investor (angel investor, venture capitalist) is different. Since they’ll call/email you frequently to see how you’re doing to make sure they maximize their investment return.
So, if you choose to raise equity funding, raise it from investors you like and get along with well. You’ll have to hang out with these people for the next 3-7 years, so make sure you enjoy spending time with them and value their opinions.
Raise Funding with This Unique Strategy
If you’re struggling to raise money, it’s probably because your funding strategy is broken.
As I explain here, the key is to start at the bottom and work your way up the Funding Pyramid.
Today’s Question: In 1985 officials of a New York supermarket chain advertised for “part-time career associate scanning professionals.” What job position were they trying to fill?
Previous Question: What advertising symbol was created by a Virginia schoolboy as part of a drawing competition held in 1916?
Answer: Mr. Peanut, the trademarked symbol of Planters Peanuts (schoolboy Antonio Gentile of Suffolk, VA received $5 for his winning entry)
Do you think Planters Peanuts got a good ROI on this $5 investment?
They sure did. Creating something like a logo or symbol that helps customers recognize your brand and distinguishes it from others can be key to your success.
I’m not a huge peanut eater, but I would guess that Planters Peanuts aren’t substantially different in taste, quality, etc. then their competitors; but if I were to buy a can, I would probably choose Planters.
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