Perhaps you’re looking for an investor or someone to put up capital for your idea. I’ve been in talks with a lot people lately about this and this question keeps arising, “How do I really get an investor to invest in me?”
Before I move into that, I want to point out that these people asked the right question. Which is “How do I really get an investor to invest in me?” Unless the investor wants you out of the picture they aren’t investing in your idea, app, book, art, etc. They are investing in you. (Make sure you understand that)
Now here’s the deal. No investor will invest any of their money until you have one of these two revenues.
- Cash. Obviously if you can make a sale that’s revenue for your company. One example of this would be a facility that sells monthly memberships.
- Attention and Trust. Now they’re lots of businesses that need this. For example I’m going to watch channel 6 news tonight. Well, I’m not paying them cash, I’m giving them attention and trust, in which they can figure out how to make money.
That’s it! You need just one of these to look attractive to an investor. And the only way you get “cash or attention and trust” is to implement the idea. The upside to implementing your idea is you can establish some credibility by publishing yourself first, developing that app first, or manufacturing that product first.
Ideas are dimes a dozen and worthless until they are implemented.
Question: What revenue does your idea need to get an investor?