Never Contact Potential Investors Directly
This certainly applies to VCs. If you contact them directly or send in a business plan you are wasting your time. They rely on recommendations from attorneys, CPAs and trusted advisers. You have to go through these to get to the VC.
Also, you will probably come into contact with a Business Angel through someone in your network. So the question is, how do you get recommended to potential investors?
The answer is very simple. Be excellent at what you do. Forget spending your time on superficial activities and focus on developing the fundamentals of your business. Focus on the money engine. While seeking investment, the old adage is true – “if you build it they will come” but only if it’s really good and can give great ROI.
