While in a meeting with a business counterpart he said something that I found intriguing:
Most people know how to beg for money but few people know how to ask.
You might be thinking whats the difference. I have seen lots of pitches and had many new entrepreneurs come to me for capital requests. There are definitely two camps the Beggars and the Askers.
One hallmark of these requests is that they are trying to figure out what amount I will be willing to give rather than what capital is required. The problem with this approach is that in the end you always end up short changing yourself, even if you get what you begged for. While we should always remain humble there is no need to travel hat in hand to a potential investor.
Askers all have one thing in common. They are not coming to request money but they are presenting opportunities. When you are going before investors your focus should be on conveying the opportunity not on the dollar amount. Remember investors are out of a career if they do not invest in opportunities, so help them stay employed.
Confidence is the difference between the two types... Don't leave home without it!
Dr. Shante Williams is a serial entrepreneur who started slow and in the shallow end of the business pool. She has worked in Biotech, Big Pharma, Green Energy, and Academia