You can’t get your new business funded? Damn, that’s disappointing. But does it prove that the world is unfair? All those other people get funded and you don’t? Or that the world is stupid?
I don’t think so. I think what it proves is that you don’t have the deal right. Investors don’t want it. Advisers don’t think you’re ready. Fix it or forget it.
Investors don’t buy into your business out of fairness, respect for your idea, or because they know you and like you; they invest in your business because they believe the money they spend buying a piece of it today has a fair chance of becoming a lot more money later. Investment is about business, plain and simple. And it’s their money. They have every right to say no. They are not a public service.
Yesterday I posted A Seasoned Angel Investor Highlights These 4 Factors here. Factor number one is previous startup experience. And yes, there is a catch 22 problem:no experience means no funding, but without funding, how do you get the experience?
It’s a trick question. If you don’t have any previous startup experience, don’t blame the world, get some. Work with a startup. Get partners who have experience. Maybe scale down the plan. Bootstrap it.
If your plan can’t get funded, don’t blame everybody else. Change the plan.