Posts tagged as:

Funding

I used to be gung-ho for business plans. They help you figure out if your idea is viable. You can’t get funding without one. It gives you an easy-to-follow roadmap to success.

Since figuring out how entrepreneurship really works, I’ve realized these are all lies.

I put in my five months. I did my due diligence. I wrote my 35-page business plan with five years of pro forma financial statements. And I’m here today to make sure you don’t make the same mistake.

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Getting backed by a venture capitalist is a huge accomplishment for an entrepreneur. It means that someone very wealthy has a lot of trust in you and your business.

It’s hard to imagine what it takes to convince someone to give you anywhere from $100K to $10M. Thankfully, I had the opportunity to ask a venture capitalist, Mouli Cohen, for his advice. He makes it sound like it’s not too far-fetched to get backed by a venture capitalist as a young entrepreneur.

I asked him five questions and here is his response:

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