If you are looking for capital from outside sources, it’s not enough to show you are passionate about the idea – you must have a business plan and the prospect of a good return for your investors.
You do lose some control by inviting others in to finance your business, but often there would be no business without their help; investors may bring useful skills along with their money.
Investment capital will make or break your business. Get your hands on as much of it as you possibly can, even if it means telling a few white lies.
When you have a great idea for a business, it is often quite difficult to understand why everyone is very happy to talk to you about it until you mention that it needs some funding. Suddenly ...