As a budding entrepreneur involved in Entrepreneurial movements and organizations in the country, I’ve often been asked about what would be the most important thing that any start up company should have. Some would say a ‘great idea’ would be the first and foremost thing; while others would insist on spending considerable time forming the perfect ‘business plan’ before they can get anything started.
For me, the most important thing would be ‘FUNDING’ for your business. Even if you have the best of ideas and the most elaborate of business plans available, but if you do not have the sufficient funds to fuel your business venture, then everything would be for naught. Every business, whether it is a small entrepreneurial sole-proprietor endeavor or a newly formed corporation, would need money or capital. Unless you’re buddies with Bill Gates and have loads of money in reserve, you would need the help of venture capital investors like Insight Venture Partners to help you in this endeavor.
However, entrepreneurs should try to understand that having a business name or registering a company or business is enough to get them playing in the business field. Capital in reserve should be the first and foremost consideration; otherwise the house would simply crumble and shatter. Even Google had to forage for their much needed capital during their startup stage - but look at them now. The entrepreneur should remember however that looking for angel investors and capitalists like Insight Venture Partners does not mean that they have to pimp their business plans around and offer it to all venture capital investors they can get their hands on.
Investors, particularly venture capital investors are looking for the best deals and sound business opportunities where they can invest their capital and resources in. Even if your business borders on the high-risks area that even banks would shun to finance, venture capitalists like Insight Venture Partners would be willing to invest in small businesses if they can see that your business has the huge potential of making huge gains. This is a primary consideration and an entrepreneur looking for capital should be able to communicate and get this message through to venture capital investors and finally get that much needed boost for their businesses.
Peter Allan Mariano
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