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by exnav29
4780 days ago
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I would agree with the other comments so far. If your idea is in fact without competition then include who are possible competitors no matter how slight. To not have any competition is a HUGE red flag. By including even the slightest of competition then you are showing that you have done your research. Also, make sure you have a rock solid way of explaining how long it will take for investors to get their money back. Contact your group of contacts and ask them why they do not want to back you. You may be surprised at their responses. But take their advice and alleviate their concerns. Because their concerns will be the same as potential investors. Find a way of doing it on a smaller scale that you can afford to finance yourself. You will need a proof of concept anyway so start working on that. People are more likely to invest in things they can actually see not ideas alone. |
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