Tips for The Young Enterpereneur New Brunswick NJ

1) Depending on building a viable business through funding from an Angel or Venture Capitalist. Your chances are actually .5% to 4% depending on whom you talk to. It is rare that someone will come in and "save you." Learn to bootstrap your business the first year so you can get customers, revenue and prove your model. Establish a proven track record.

2) Projected revenues are based on market size. You need to show how you can build your revenues from the ground up with the appropriate sales and marketing strategy. To say that you will capture .5% of the market is not a good answer. Don't compare yourself to other publicly traded companies in the market place. Remember, most of them have more capital than you ever will.

3) Competitive advantage based on "quality" of product or "first to market." You need to assume that someone can always build a better mousetrap than you. Don't bank on the fact that you are the best game in town for a long-term competitive advantage...remember a thing called "reverse engineering"? All of the time...

4) Talking to any investor about your plan. Talk to only those who are truly interested and are able to fund your plan. Don't over shop your plan. Don't be afraid to ask for the order (will you invest in my business?).

6) Not focusing on the investors return. Be able to answer simple questions like: How much money is required to make a profit? What is my return on investment? What is the exit strategy? Be able to appreciate that the investor has alternative places to put his cash....