What will make people invest in your idea?

I am asked this repeatedly: “How can I get people to support my idea”?

If there was a magic answer to be found at the back of every text book, just think how many people would have to stop writing their management blog.

Is it luck? The way you speak or look? The potential market or the capability of the team involved? All these and more are relevant. However, I would like to focus on one theme, that I have heard stressed on three separate occasions in the past week alone.

It is a common “fault” of entrepreneurs I meet that as they focus on the wonder of their technology or the huge size of sales to be achieved in 5 years time, they forget to mention the USP.

For those who don’t know USP – unique selling point – is what sets you apart from the pack. Sometimes, there is nothing unique but a strong combination of factors, which makes your project “different”.

I was listening to one Jerusalem industrialist, who has set up 4 cleantech ventures in recent years, and he could not stress this point strongly enough. As soon as you can, in a presentation or in an executive summary, state why you are special. Immediately. that will make you interesting to a prospective investor.

No this is not an isolated thought. A Fox News interview with venture capitalist Randy Komisar of Kleiner Perkins Caufield illustrates the importance of this subject.

Bottom line: If your idea is that good and you are that enthused by it, you will find a way to describe its benefits succinctly in a 15 second elevator speech. If not, you leave yourself open to the accusation that there ain;’t anything too wonderous in what you are doing.

Explore posts in the same categories: Business, Israel

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