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Advice for Entrepreneurs Wanting to Attract Investors: Don’t Just Be a Product

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A recent article I read in the Wall Street Journal, “Dating Advice for Investors & Entrepreneurs,” provided some important points that every fund raising entrepreneur should take to heart. Having been an entrepreneur and investor, I would reinforce that the point the article’s author, Ben Holmes makes on traction (as a moving train), can’t be understated. The objective of capital in the startup ecosystem is to act as a catalyst to a reaction that is already happening. Most investors won’t part with their capital when all it’s going to do is fuel an experiment.  That’s for the earliest seed stages of investment.

One more point: Investors’ willingness to part with their capital grows when you are highly knowledgeable about your customer. Customer intimacy is at the core of every successful business. Show your investors you’ve done your homework here, that you understand what they value, what pains them and how they are influenced. It takes product and customers to make a great business marriage. Don’t just be a product.

http://blogs.wsj.com/accelerators/2013/02/11/dating-advice-for-investors-and-entrepreneurs/

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