|LARRY: "It's like there is both a mail and a phone strike. I can't believe we're not getting responses, let alone offers. its been more than a week since they must have received our plan. I've even checked to see if our address and phone number on new stationery and plan are correct."|
|BARRY: "Maybe those venture capitalists aren't as smart as we've read. They probably don't even understand the brilliance of our approach or that our skills are such that making the projections will be a snap."|
Entrepreneurs whose plans are clearly without interest to venture capitalists usually receive a "thanks, but no thanks" rejection more quickly than those whose plans may hold some innterest. All entrepreneurs believe they have the skills necessary to accomplish the goals set out in their business plans and almost all believe their plans represent a clear opportunity for investor profit. Many entrepreneurs are brilliant, but few business plans are.
Entrepreneurs submitting plans should confirm the receipt of their plans by venture capitalists and ask the venture capitalist when, in their normal flow of review, an indication of interest might be expected. More important, the entrepreneur should use every opportunity to try to make an appointment to meet the venture capital firm's initial review person.
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LARRY & BARRY appear in Access Business Online's DAILY BUSINESS NEWSPAPER.