With Jenny Kassan
Expert Funding Attorney For Mission-Driven Entrepreneurs
Readiness Level: You Need Some Basic Building Blocks
Here are our recommendations:
Examine your reasons for wanting to run your business.
Is it because the business is something you truly love and are passionate about or is it for some other reason like advice you received from others, pressure to achieve success on conventional terms, being convinced by someone selling a product, program, or scheme that this business could be a path to easy money?
In our experience if your business is not an expression of what you really care about and enjoy, success of any kind, including getting funding, will be an uphill battle. If you cannot honestly say that your business is something you are passionate about, consider pivoting to something that you are truly excited about.
Once you can say that
(1) you are passionate about your business,
(2) you are willing to commit the time, energy, and effort it takes to make the business successful, and
(3) the work you do in your business is something that you feel you were meant to do,
do your homework to make sure the basic building blocks of success are in place. This means identifying your ideal customers, researching your competition, and learning everything you can about the market you’ll be serving.