4 years ago I had this idea I turned into an enterprise (crashed now though). And I needed investors- VCs to help me get it up. I was but a broke student. I didn’t know anyone apart from a few guys on LinkedIn; So I started researching VCs who could invest in my start up.
After spending a few days, I found someone. I was delighted because his CV was crazily awesome. I pitched my idea to him. Then he asked me for a business model. Huh? I didn’t even know what a business model meant. I just had this idea and I was passionate about it. I am an engineering student. I don’t know nothing about a business model. But he insisted. He told me if only he could see my business model; he might invest in my idea.
So I “googled” what a business model means. Read some books on business modeling and some other crazy stuff about business. I spent months preparing, coupled with help from some of my colleagues, I had a business model.
I sent him a copy of the business model, I even backed it up with
black magic prayers and fasting. But did he invest? No! He just gave me more
Luckily for me, I found another Angel. I was fully prepared for this one. Pitched him my idea, sent him a copy of my business model and business plan. But guess what? He just simply told me
to go fuck myself that I’m not an expert in
that market. That he only invests in start-ups created by aliens experts.
I found more smart guys. Some said our market was too small. Some VCs said “they love the idea but that we need to do some more due diligence on the space.”
Some even asked us for a bunch of hard-to-get stuff- market research, traction metrics, and better proof of growth. Even when we got them this information, they still didn’t invest.
So I thought my idea was bad…. So I packed up.
Flash forward to present……
I am currently working on a new startup that needs seed investment. And I was about making the same mistake (I didn’t even know it was a mistake) when a friend told me how he got seed investors invest in his idea. He told me they didn’t ask for no traction metrics, or proof of growth or any of those crazy stuffs. And He wasn’t even an expert in that market. He just had this crazy idea, researched on the market, and developed a business plan and model.
I asked him how he did it. He said he didn’t go for smart guys. He went for people who could bet on him to succeed. His main investor is not even an expert in that market.
He referred me to some crazy VCs and I might just be getting a crazy investment for my crazy idea.
Smart people are looking for easy investment. So when they see a crazy idea, all they do is give you smart and nice feedbacks. “Oh we need traction metrics” “Oh this…Oh that”
A smart person can never invest in a crazy idea. They are scared to lose their money because they feel that idea has never been tested ok. So they don’t want to give a single fuck about any idea, once they know it is crazy.
It only takes the crazy ones to see any good in your crazy idea.
But when you get the same feedback consistently from different VCs…. You should really work on your idea. But if your feedback feels contradictory, then you may be able to pass it off as noise and realize that you haven’t found the right person yet.
Good luck on your search for a crazy investor.
Sadiq Daniel is a
Smart crazy entrepreneur that blogs on business, Self- development and his country’s bullshit. He is currently working on his latest book: Everyone Thinks I’m Crazy, Slated to be out by February 2015. You can pursue him on Twitter: @sadiqspeaks BB: 27621DB4 and Email: Sadiqdaniel@gmail.com for more crazy tips.