It’s always the toughest trying to raise outside capital at the beginning when you cannot point to any sales. Everyone decides to take a pass on your deal as a result. You can’t really blame them for it. All they hear is a lot of big talk on your part without any proof. Sorry, but a business plan does not constitute proof. Investors understand that business plans are as objective and trust worthy as a personal ad on a dating site.
So can you blame them for telling you to update them on your progress in six months? Isn’t that what you would do to tactfully get them off your back? You’d want them to show you some actual proof that customers are buying before you invest a nickel.
Here’s a diagram of the Financing Valley of Death:
The Financing Valley of Death separates the true entrepreneurs from the wannabes. Which are you going to be?
Here’s the tool to help you get through successfully and impress everyone. The Guerrilla Startups Guide.