One of the amazing characteristics of an entrepreneur is seeing potential all around. Every problem is a new opportunity. Every challenge is a new learning experience.
As part of seeing new opportunities, entrepreneurs most often pitch investors to fund tomorrow’s idea. Tomorrow’s idea is a new product, a new direction, or some other aspect that is unproven. Most investors, save for angels and the occasional micro VC, pass on funding tomorrow’s idea.
Instead, investors want to fund today’s business that is working well with the belief that it can work even better tomorrow. With more time, talent, and money, the business that is good can become great.
Entrepreneurs would do well to work towards a viable business today. While this is the more practical route, it’s the route that most successful entrepreneurs take.
What else? What are some more thoughts on funding today’s business or tomorrow’s idea?