When you consider ideas versus execution, what do you think is most important from a business perspective?
A really great idea, or really solid execution.
Execution will beat a great idea every time.
Has anyone actually heard of businesses that has either been self-funded or got access to funding, they’ve gone in, they’ve invested all this capital and infrastructure and setup and everything else. Then when they actually tried to sell their product, they couldn’t sell it.
If you can’t sell, you don’t have a start-up, you have a hobby, and most likely it’s a hobby that’s going to be costing you money, not making you money.
Stop waiting for an investor to save you, if your product is good enough, sell it, use that money to generate cash to then go to the investment community and say, “I’m worthy of investment because I can actually sell my shit’’.
Whereas if you’re going to the investment committee, saying, “I really need money to launch my business’’.
And they say, “Have you got any sales?’’
And you say, “No”.
That is not going to be a strong endorsement.
If you want to be successful, you need to learn how to sell.