Recently, we were speaking to a group of entrepreneurs and would-be entrepreneurs when one of the latter asked a familiar question: “I have a great business idea; how do I get it funded?” We hear this concern frequently from entrepreneurs contemplating a startup. However, we don’t think that a lack of funding is typically the issue — it’s a symptom.
Typically, the issue is that the would-be business owner either doesn’t actually need funding (in spite of what he or she thinks) or doesn’t have a compelling business plan that lays out clearly why prospective investors should plop down their hard-earned funds.
