Lesson 9: Engage investors in the “story”.
Arguably, an entrepreneur’s most important responsibility is to garner the resources, cash in particular, needed to grow the business to the point that it reaches sustainable growth or is sold. Successful entrepreneurs know that the journey will be “bumpy” (see #3) and that things will definitely not go as planned. Successful entrepreneurs are able to engage investors who come to understand the full “story” behind company, from the need the company is addressing, the potential value of its solution, its defenses against the things that will kill it, to the quality and commitment of the employees. They keep them informed of the risks and challenges so they have confidence that they understand the current situation. As a result, they are more likely to exhibit the some of same intestinal fortitude needed for success and not pull funding at the first crisis.
Share Your Insight
Have you learned an important lesson or found a valuable resource along your journey in healthtech innovation? Share it with us and we will add it to our growing resource library.
A series, "Talk Like TED," in which communications coach/author Carmine Gallo applies tips,
techniques and insights to help entrepreneurs and business professionals sell their ideas
more persuasively. These ideas are inspired by the TED Conference’s most celebrated talks
in its 30-year history.
An article from PR News on the value of storytelling.