|
1 |
Know what kind of company you have and what kind of funding situation you
have. Be clear in your own thinking. |
|
2 |
Be realistic. Don't waste your own time or the time of others by seeking
funding that doesn't fit.
Do go after funding that does fit. |
|
3a |
If you're a
start-up,
specifically plan an operation that will be "squeaky clean". |
|
3b |
If you're already in operation, run your company to keep it completely
clean. |
|
3c |
If things are in a mess (or if an outsider could fret about something),
review and clean things up right now. Deal-killers include unpaid
taxes, law-suits, problems with old partners, the accounting system, your
corporate records, technology rights, etc. If there is a "surprise", call a
huddle. |
|
4. |
Operate to demonstrate a clear competitive strength (not just an
"advantage") and to achieve solid, current
profitability. To get
funded, these are more important than a strategy which achieves "market
positioning" through negative cash flow. |
|
5a |
Don't allow your situation to get desperate. Manage your company so that it
is not dependent on getting outside funding. |
|
5b |
Develop an incremental strategy for development. Use
"milestone" planning.
Grow opportunistically, i.e., when the critical elements are available.
Don't force it. And don't try to mortgage your future as a way of increasing
the probability that funding will somehow appear. |
|
6. |
K.I.S.S. - Keep It Short and
Simple. Make information about your company
easily accessible and understandable. Use the Army presentation and the
Grandmother test. |
|
7. |
Always have information that is current. When talking about funding,
always be able to show (or at least discuss) both "in" and "out". |
|
8 |
Continue. "Sticking with it" accounts for most successful outcomes.
Remember: to benefit from "luck", you still have to be in existence. |
