Ask any investment house or mentorship programme and they will all say the same thing:
Many entrepreneurs come up with an idea that they believe will be a success, and that’s it.
They think an idea equals a business. They don’t put enough time into research, sustainability or even the profitability of the business.
If you can’t get investors to pay attention, it might be that you need to go back to the drawing board, do more research, and critically evaluate your idea.
Spread your ideas
Do your research. Sometimes you need to have a number of different ideas – and be able to adjust your ideas, before you have something that you can take to market. Don’t be discouraged, just figure out what your market really needs.
Backing the horse
As an entrepreneur, the most important lesson you can learn is that the idea isn’t everything – execution is.
Many start-ups can’t get their ideas to work and they think it’s because they have hit stumbling blocks, when in fact there wasn’t a viable business in the first place. True entrepreneurs can look beyond their own ideas and adjust them to what the market needs.
That’s what mentor programmes, ED programmes and investors look for – an entrepreneur they believe in; not necessarily the idea.