Thursday, October 28, 2010

Are you bankable?

Simple fact:  If you've never started a company before, or weren't part of the core group of a start-up company that became successful, it will be much harder for you to raise money, especially these days.  In other words, investors will not consider you "bankable."  This doesn't mean you don't have a great idea or the promise of a great company, it just means that investors put you in a much higher risk profile.  However, if they really like your company's product and market, they might fund you with a plan in place to bring in someone who has "been there / done that" before.  If you want to avoid this, perhaps because you don't want to lose control to an unknown, then the best remedy for you is for you to find someone yourself, who you are comfortable with, and who is "bankable" to join your team.  This person will be the rainmaker for your company and ensure that your company gets funded and becomes successful.

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