According to Brent Hoberman, serial entrepreneur, sometimes the craziest business ideas are the best! The leader of Founders Factory gives his very own tips on starting a business, finding investment money, and getting others to believe in you. For starters, if you’re at the point of asking someone for their money, you should have already given up your regular employment. Test your business idea out on people and make them believe that you have what it takes to make your idea a success. When you do pitch for funding, outline an 18-month plan for investors on exactly how you are going to spend that money.
Key Takeaways:
- According to Brent Hoberman, serial entrepreneur and leader of the Founders Factory, the craziest business ideas are often the best ones.
- Hoberman stresses that if you are going to ask someone to invest in your business idea, you should already be fully committed and have given up your day job.
- When pitching for funding, have an 18-month plan in place and outline exactly how you are going to spend the money during that period of time.
“If you have a great business idea, one of the first things you should do is test it out on people.”