- Ask for millions of dollars. The saying goes: if you want advice, ask for money. If you want money, ask for advice.
- Not being completely open and receptive to advice from potential investors. And by being open and receptive, that doesn’t mean you agree. It means you’re listening. Your investor should feel like you thoroughly consider everything they say.
- Agree with everything the investor says… If you think the same as they do, what’s the point of you exactly? There’s a fine balance between being a suck-up and your own Kool-aid drinker. If you don’t know what I mean by this, you’re probably screwed.
- Having your financial projections laid down, but without a plan B, C, and D.
- Be late for a second meeting with your potential investor. You’re pushing it if it’s the first one. You get one meeting lateness blip and a maximum of four minutes. Arrive 10 seconds late for another before you raise capital, and you’re probably toast. Tip: be early, always… on calls and in-person.
- Mention that you’re really not that hands-on with your finances… or that you trust someone to handle that stuff for you. Big red flag. Even if it’s true, never, ever, ever say, mention, allude, or sneeze this idea. Your investor should feel you’re very attentive. You’d think this was common sense, but let me tell ya.