Finance: Relationships

When going for financing on a new venture idea, be it with a venture capitalist, angel investor or bank, the most important thing to have in your hands is a well thought out business plan.  Your business plan may change many times during the process of seeking out funding, but the first version needs to be well thought out.  The investors are looking for a person or company that will be thorough in planning and implementation.  Have an answer for why you planned the way you did. 

   Getting the financing you need can also depend on the relationship you have with a banker or investor.  If you are just starting out as an entrepreneur or real estate investor for example, get to know your banker.  If your banker knows you are a credible individual, honest, hardworking and sincere, he or she will naturally give your idea more consideration.  If you are new to the business world, maybe you know someone who has a good relationship with an investor or banker.  Maybe you can have lunch with them and get to know some people who can help.