Get your @#$* together first!

Hi Everyone

Earlier in the week I was talking to an entrepreneur who wanted help to raise about $1.2 million. After a few qualifying questions about marketing and the financials he passed the first screening. He sounded credible on the phone. I asked him to send me his plan.

Then it all fell apart. His idea of solid financials and mine were a universe apart. And there were no marketing strategies at all. Just a series of comments about what could be done. Very superficial.

Then he was couldn’t understand why I wouldn’t give him access to any of my contacts. In his view it was just sending an email to a few people with his plan attached. How hard could that be?

This guy had no idea. He had totally missed the point. No adviser is going to pass on half baked plans to their trusted networks. We all work hard to maintain our contacts and they trust us to screen contacts so that their time is not wasted. Introductions are hard won.

And if you want to keep your networks in place and working for you then don’t send them anything that has not been rigorously researched and checked. It will cost you dearly. The world of equity investors is very small and word gets around quicker than you think.

Once something is out there you can’t take it back. The more you prepare the more successful you will be.