I am a big fan of agile development and lean startup practices. Failing fast is more important today than ever.
The same is true for finding investors. Just like you need to evolve your product, you need to cycle though a lot of people to find and engage the right relationships.
There was a day when I would say business owners only get one bite at the apple when approaching investors. These were also the days when I thought a company had to have a robust pro forma and a complete business plan.
Today, entrepreneurs must interface with potential investors in a multifaceted way – long before everything is picture perfect. Gone are the days of business plans. Today, it is about agile corporate finance – business model canvases and minimally viable products that can demonstrate social proof.
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