By guest author Irina Patterson
As we talked to VCs and angels, we discovered that less than 1% of the entrepreneurs who apply for their funding get funded.
Think about it, less than 1%.
One of the Silicon Valley’s super angels, Mike Maples, told us that he gets 7,000 deals a year and invests in 12 to 15. That’s a 0.21% hit rate. The flip side: a 99.79% rejection rate.
With those odds clearly stacked against you, what are you doing to become fundable?
Do you know how to assess if your business is fundable?
Do you know what the current valuation range for your company is?
Do you know how to enhance your company’s valuation?
Are you aware of different types of financing (apart from angels) and what are the mechanics of those?
The 1M/1M Program is designed to help entrepreneurs to answer all those questions and more. 1M/1M entrepreneurs use the 1M/1M curriculum and Silicon Valley’s proven bootstrapping strategies to get to a point where their business is fundable.
After that we introduce them to various funding options and even help them to negotiate the deals with investors. See the 1M/1M FAQs for details.
No need to suffer rejections over and over; rejections are harmful to your self-esteem.
Besides, if you are pitching to angels without validation, you are wasting your resources month after month. Instead, you could use this time and these resources to move your business to a point were it is validated and fundable.
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