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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.

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