Why Your Idea is Not Investor-Ready

Dr. Arlen Meyers, President of the Society of Physician Entrepreneurs, receives inquiries from entrepreneurs seeking advice on finding investors for their ideas. However, many entrepreneurs make basic mistakes when presenting their ideas such as describing an idea rather than an innovation, unclear business plans or models, asking for funds to conduct research, no validated business model or early adopters/customers, poor investor-ready proposals and poor interpersonal and selling skills. To avoid these mistakes, entrepreneurs need to concentrate on the problem first, create a tested and validated business model, use clear, concise language and focus on key revenue and profit questions.