For all of you in Scotland who are students or recent graduates and are thinking to start a business I suggest you to give a try to the Converge Challenge.
Alister Minty, the first person to talk to us today, asks who made a research for him or any other of the trainers before coming to the training. No-one did, and that will help us remember to do so every time we are attending a meeting with someone in relation to our company.
Alister’s background is quite interesting, so I’d suggest you look him up. He is one of the Indigo Vision founders.
30 second pitch is on!
From the pitches, I can say there are many nice and promising businesses. Hopefully people will think the same about us.
Amongst there is a company who sold out its stock initially, and Alister’s interesting question was “How painful was it when people wanted your product, but you couldn’t provide it to them?” – My suggestion, is that you think about it, and have scenarios in place to react to that.
The other one was a question about the return policy. Think about your strategy as well.
Businesses consume a lot of cash! Want to raise investment? Network, drink lots of bad coffee, and begin in a creative way.
The responsibility you have when you ask for investment, is the commitment of telling the truth. If you lie in order to get the cash, you can lose everything and more!