Tips from the top

Wondering how to give your idea a fighting chance? With my experience of building businesses by investing in people, I know what it takes to succeed at the highest level.

Here's what I look for in an investment - the seven P's:

Preparation
Have you prepared and really thought everything through? Product, market, figures, research, market opportunity, sizing, themselves.  Preparation is crucial.

Passion
Do you really want it? There is a difference between enthusiasm and passion – I want passion. To me, passion is having the character to do something about it once the emotion has gone. You have got to have that conviction and unquestioning belief in what you are doing in order to be successful. 

Are you willing to make sacrifices? If you are not prepared to put yourself out, and you think success will come to you simply because you’ve got a great idea, then you are not the person I’m looking for.

Presence
Are you credible & believable? Could I do business with you?

Persistence
Have you been knocked down and got up again? How long have you been trying? What will you do if you get refused today?

Product
Is it a good product with a market need? The first thing I need to know is that the idea is tried and tested. I probably won’t be interested in something that is just a plan on paper.

I need to know that it has been developed, it works and it has market acceptability. Market acceptability means that it has been demonstrated to a number of people who have come back and said yes, this is something I would like to buy.  The questionnaire that I ask all prospective applicants looking for investment from me to fill out, will act as a useful guide in the development of your idea.  (Questionnaire to follow shortly).

Projections
Do the figures stack up? Can I see a return?

Presentation
How have you prepared for today and what sort of presentation are you giving?  I must be convinced that you are passionate enough about yours idea to showcase it effectively.