Many first-time entrepreneurs sometimes believe that their job is to find an opportunity and focus … [+]
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Influenced by the unbelievable journeys of the biggest technology companies with hundreds of millions of dollars in funding, many first-time entrepreneurs sometimes believe that the job of the entrepreneur is to find an opportunity and focus on execution while the investor is responsible for providing the capital to realize the vision. While this may be true, it is rarely the case at the start of a new venture.
On average, out of 6 million new businesses starting up in the U.S. each year, banks issue only 100 thousand SBA loans, around 70 thousand startups get an angel investment, and fewer than 5 thousand startups get venture capital funding….