Make sure your projections are based on real numbers
As for impressing potential investors, don’t cold call, said Mike Burgmaier at Silverwood Partners. “Be creative, and get a referral.”
Meanwhile, however much working capital you think you’ll need, double, or triple it, he said. “Almost every entrepreneur underestimates how much they will need.”
But what about when you finally get that meeting? Be “concise, compelling and realistic”, he said.
Have a 2-5-page non-confidential executive summary document and “make sure your projections are based on real numbers.”
Picture: BevNET
