What percentage of ideas submitted to venture capitalists are rubbish?
I would say for me, very few of the product ideas are rubbish.
95% of the investment ideas are rubbish. The distinction is important:
- Ideas are a dime-a-dozen.
- 2–20 other entrepreneurs and wannapreneurs already have your idea, too
- You probably have no traction yet and no or very limited proof points
- Your “idea”, even if great, is probably too small on its own today, too nichey, to justify an investment.
Have you asked yourself: Why would someone invest in you?
And if it’s early stage — why can I make 100x on the investment (to account for the risk)? I.e., why can you really get to $100m or more in revenues?
95% of “ideas” don’t answer these questions. The product ideas are just fine. The investment ideas are terrible.
Upgrade how you present your pitch from just a product pitch, to also, Why I Will Make $100m+ on The Investment Pitch … and your odds go way up …