The found and CEO Burch Creative Capital has started helping young entrepreneurs find investors. Chris Burch has nearly 40 years experience as an investor and entrepreneur and successfully launched over 50 companies. Now, he’s showing the next generation how to find investors.
His investment portfolio is one of the largest in New York. Unlike other investors, he doesn’t stay in one industry; he loves exploring other industries. In recent years, Burch just got into the hospitality industry when he invested in a hotel resort on an island. Back in the U.S., his advice is showing startups how to find investors in New York.
There are many mistakes startup owners make all over the world. Though New York is a startup’s paradise, it can be dangerous if they don’t know what they’re doing. The first mistake people tend to make is over explaining their ideas.
When investors start asking questions, they only want to know what the company has to offer. Most of the time, entrepreneurs are excited about starting their business and fully explain every detail even though potential investors only asked one question. According to Chris Burch, initial answers should be short and to the point.
Another problem people have is using fancy words to try to impress investors. While investors do want to be impressed, they want to listen to a bunch of unnecessarily big words. Using simple words falls into the category of giving short and direct answers.
Another part of that is accepting that they may not have all the answers to questions. They need to have answers to all the crucial questions, but the little details aren’t as important at first. It’s okay if they don’t have the answers to those, but it’s just as important to find out after the meeting ends (medium.com).
The one thing that every entrepreneur needs to how to do is to accept setbacks. Not every investor is going to say ‘yes’, but that doesn’t mean they should give up.