You must be ultra prepared when you are pitching to investors. However, being prepared means more than just being prepared for the meeting. You must prepare your business to a level that gives investors confidence in you and your team, shows a market for your product, and indicates that your business can scale to a level that will give an appropriate return for investors.
If you had the option of placing a bet either before the race starts or half way through it, what would you choose? Obviously, you would choose to place the bet half way through.
In order to get investment, make sales and eventually generate profits entrepreneurs must climb the traction ladder. The traction ladder must be climbed one rung at a time. It’s a hard climb that requires super human stamina and determination. But the crock of the gold at the top is worth it. That crock of gold is profits.