"I hate to lose, but I am not afraid to fail."
A comment attributable to Thierry Henry in an advertising hoarding on the A64 out of Leeds that caught my eye that is a good a definition of the entrepreneurial streak as I have seen. 'Being an entrepreneur is about winning and money is a way of keeping score' is another quotation that comes to mind.
The bottom line is that, as in sport, there are no guarantees of success but equally there is no substitute for preparation. That's why coming up with a well thought out business plan is key. This week we will be holding the InvestorQuest finals and it will be interested to see how many of the business propositions can articulate exactly what they do and why they might be one of the winners...unfortunately, as in sport, by the time its obvious who the winners are, it's too late to back them!
That's why investors seek to load the dice in their favour by looking for attributes that they have seen in ventures that have generally made it in the past: clear vision and value proposition, strong management that can navigate the troubled waters to success, understanding of the competitive landscape, a feasible route to market, etc. While standing out from the crowd is good, being too different by not coveing one of these bases is not to be recommended. The Investor Readiness Programmes we run seek to ensure companies looking for investment show themselves in the best possible light.
