A "one-trick pony" isn't enough

If you are like most entrepreneurs, you want to build a big company.  To do this, you not only need to have an initial product that you can develop without a ton of money, but also a product roadmap.  It might be sufficient for some to develop and market their widget (or service) and launch it on a website, etc., for everyone to see and buy, with no real vision of follow-on products.  This is often called a "one-trick pony."  Perhaps this is just fine for them.  This is a "lifestyle" business, in other words, one that is just fine for the entrepreneur, bringing in a nice paycheck on his profits, but not a good investment for an outside investor.  An investor needs to see an ROI on his investment, and a lifestyle business will most likely not qualify.  So, before you approach an investor, be sure to have a vision of how your company will evolve beyond your first product and clearly communicate this vision on a chart with a timeline.  Include costs of developing these future products and resulting market penetration.