You can't be too proud when hustling for capital, but that doesn't mean you should make a fool of yourself when chasing after that paper-paper. In a recent Fast Company post, a checklist of questions you should ask yourself and whoever you're hoping will lend you some cold hard cash before opening for business.
First off, though, it helps to have some realistic goals and bear those in mind when spreading your vision. Otherwise, the post warns, "you may find you've got a successful company and investors with unrealistic expectations of what their dollars entitle them to." This can be particularly hairy when you've got friends and family among your investors.
If you don't have a clear picture to whether you're looking for for friends, angels, or venture investors, now is the time to figure it out. A company that needs $200,000 doesn't need $5,000,000.
And here's that checklist:
- Where does the money come from?
- What is it you're going to show investors at that first meeting?
- How much are you asking for?
- How many meetings should you have?
They're elaborated on over at Fast Company.