Passionate Obsessed
Investors need to know that you’re committed to building a blockbuster business with every fiber of your being. They want your business on your mind 24 hours a day, seven days a week. It’s a good sign to investors if you even dream about your business. In short, investors look for entrepreneurs who are passionate obsessed with their businesses.
Anything less is usually a deal-breaking red flag for investors. Why would they bet on you if you won’t bet on yourself? There are many ways to demonstrate your obsession, but three really count in an investor’s mind. First, you can’t build a blockbuster business in your spare time, so you should quit your job if you can. Second, don’t try to start two or three businesses at the same time, spend all of your time building this one. Third, have some skin in the game by investing your own capital. The dollar amount isn’t as important as the percentage of your net worth. You should invest (or be prepared to invest) a significant percentage of your net worth.
Anything less than all-out obsession makes it too easy for you to walk away. Investors know that obsession is what keeps your startup ship sailing through even the worst storms, which you’ll inevitably face.
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