Raising money needs careful planning, like a military campaign. You should regard it as the biggest sale you are ever likely to make. You need to get your act together to present your case. You need to know how much money you want, who to approach, how long you want the money for and what security you can offer backers. You also need to know the business plan, the financial figures and the marketplace inside out.

But that is not all. You should expect indifference, lack of interest, disbelief and doubt. You have to convince, persuade and excite sober, serious business people about the prospects for your business. This cannot be achieved by overstatement or rash predictions about success. Demonstrations of competence ...

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