A very famous angel investor once told me "I've never seen a bad business plan from fund seekers, but I've seen many bad and improper business models"
And actually what matters to them, is business model! It's about how you do it instead of what you wanna do. To have a good business model i have three simple rules:
- value proposition
you need to know what you are better than others to propose to clients - Channels
what is the best way you reach out clients - Pricing
once you reached them, don't lose them with too high or too low pricing policies.
Money scares easily! Let the owner be confident it handing it over. What scares money and what influences people from investing in your project, is a combination of Risk and uncertainty, finding the balance and trade off between them.
Innovation is an un-concentrated, unpredictable, full of uncertainty and bottom-up design matter. But I don't panic since these issues are capable to turn into risk to make it measurable and manageable.
Imagine you come to your boss with a failure report on the project you've been working whole last 6 months. The question is are you in the beginning of a new idea from ashes of your failure??
If the answer is yes, The second question is will you be at that job the day after?
If yes, welcome to innovative managers' club
if not, don't be upset, you're an entrepreneur!
