Let’s take a couple of things as given. First, you’ve got a highly investable business idea that any investor worth their salt will want in on. Second, you can turn that idea into reality and make it a tremendous success. So, the question you need to ask yourself is if you’ve got the vital component that will get you and your idea over the line—the Investable Entrepreneur mindset.
There are so many things you can learn and absorb on your Fundraising Journey that’ll help improve your chances of winning investment. You can discover how to write compelling pitch deck content that engages investors, or find out how to prepare financial projections for potential investors. You’ll be given a forensic guide to the steps you need to take to become an Investable Entrepreneur in our COO James Church’s book. But with the critical mindset, that’s on you.
A potential investor will know if you’ve got an Investable Entrepreneur mindset within the first few minutes of your initial meeting. There’s no faking it until you make it with this.
So, what are the three essential personality traits of an Investable Entrepreneur?
If you’re terrified of meeting investors and pitching in public, or if you feel uncomfortable about discussing the nuts and bolts of your business and asking people for money, it will never work.
You must believe in your product and your cause. Be confident that you deserve to be in the room because you’re offering the investor a fantastic business opportunity that they’d be fortunate to get involved in.
Here’s the important thing you need to remember about confidence: Confidence isn’t an elusive something that only a tiny percentage of people naturally have. Confidence is something you can learn and earn through hard work and constant repetition.
You might feel nervous right now, but when you’ve got all your critical fundraising assets in place, I guarantee that confidence will come. And that’s because the very process of putting those assets together will have made you think strategically about your business and reignited the fire in you.
When you’re inspired, and you believe in your business, you’ll believe in yourself. You won’t feel imposter syndrome because you know you’re offering the investor a business opportunity they’ll want to hear about. Because of that, you won’t feel awkward about asking them for money. After all, why would you feel uneasy about asking someone to invest when you know in your heart that you’re giving them the opportunity of a lifetime?
The more work you put into assembling your assets, the more opportunities you find to pitch your proposal in front of other like-minded entrepreneurs, so you can ensure it’s as polished and natural as possible. As a result of that positive repetition, your confidence will grow.
Raising investment isn’t a quick, smooth journey.
It takes time, and you’re inevitably going to make mistakes along the way. Every Investable Entrepreneur does.
Remember that famous quote from Thomas Edison, the inventor of the light bulb? “I never failed. I just found ten thousand ways my idea didn’t work.”
That’s the relentlessness you need to be an Investable Entrepreneur.
You’ve already come a long way. Simply by undertaking this journey, you’ve committed to something that most people only dream about. You’re starting a business, growing that business, and learning countless invaluable lessons along the way.
When you’re a business founder, learning on the job is the only way to do it.
Right now, fundraising for investment is another part of the job you’re learning. If you make a mistake, have a setback, get a rejection… fantastic! Bank what it’s taught you and adapt your thinking; your approach and processes will be more robust the next time around.
An investor won’t expect you to have got it right the first time, every time. No one can, and if you try to pretend you have, the investor won’t believe you. In fact, that’s the holier than thou attitude that most investors will see as a flashing red warning light.
Investors will appreciate your battle scars. They’ll understand that you’ve taken the hits, learned from them, and got back up again.
Relentlessness is a quality that every investor looks for in an Investable Entrepreneur.
Not every investor is going to love your pitch.
Not every investor is going even to like your pitch.
Some investors, if they’re having a tough day, might even bluntly tell you that your idea is dead in the water.
Don’t listen to them. Have courage in your convictions.
Know that you’ve got all the ability you need to make your business a success and overcome all the issues that lie ahead (nay-saying investors included). Remember, everything you’ve accomplished to get to this point and put the investor’s misgivings into perspective. They don’t know you. They haven’t spent weeks, months, or even years living day and night with your idea like you have. Believe in yourself, believe in your plan, and don’t change anything you’re doing just because an investor who met you five minutes ago says so.
Conviction is like relentlessness. Get knocked down and then get back up again. The more investors you meet, the greater your chance of finding investors who believe in your vision.
Statistically, it’s bound to happen—it’s the law of averages.
Want to know more about what embodies an Investable Entrepreneur? Want to read an in-depth case study of one of our clients that encapsulates everything being an Investable Entrepreneur is all about? It’s all in James Church’s bestselling book, and you can download a free copy here.