So You Want To Be an Entrepreneur…Don't Lie to Yourself

Posted by Howard
on February 22nd, 2009

I think Jeff is being a little harsh, but he is mostly right.

If you really suck at asking/begging for money, you will have a hard time no matter how good your idea is.

Chris, ahhh, to be 25 again. If you can’t get the money, you’re not an entrepreneur. Entrepreneurs are the guys who actually get the money to fund their ideas. The others are called “innocent bystanders”.

Raising money is probably the critical skill for an entrepreneur.

I’ll tell you the secret — get a tin cup, a pair of really good knee pads, rub diesel on your nose every night to toughen the skin and perfect your 30-second elevator pitch and then go get them. Pitch your deal 4 times a day every day and keep a log of every reason why someone tells you no. It will come in handy to perfect and refine your pitch. When you make your first $1MM, look back at your notes and have a good laugh. Don’t become discouraged. Nobody cares anyway.

Keep doing it until one person on the whole planet tells you “yes” and then you will be an entrepreneur.

Good luck. I am not mocking you.

I have raised over $1B in my life and I have never become comfortable begging for money. But I have become much, much, much better at it — hell I’ve become a master of the black art truth be known — but I have never really liked it. I still recoil at the prospect of being a beggar. I truly hate it.

Welcome to the real world and truly, good luck. I was just kidding about the diesel on the nose but it can’t hurt! LOL

Originally posted as a comment by JLM on A VC using Disqus.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.