… before arriving at day two it is worth continuing with the finance theme just to add that yes ‘cash is king’ but growth is proportional to your necessary funds for operation, therefore, model your cash needs according to the expected or desired success of your business. Also, be as creative as possible when looking to reduce your cash requirement (subscriptions, early settlement discounts), at the end of the day this costs you less than fundraising.

When fundraising, research your investors as they do you, check the fund vesting status and exit horizon, consider their experience, and above all look for references from their portfolio companies. The better you know your investor the more chance you have of reaching an agreement over money for you taking the risk and putting in the hours.

When it comes to pitching your idea you are looking for relatively small amounts of capital in the main so don’t raise more than you need and avoid taking on more debt. Be as creative as possible on how to spend or not spend it and then pitch your idea with passion, vision demonstrating a clear market opportunity. What’s the purpose of all this? To get a meeting with the investor to go into more detail so don’t tell them your life story, keep them keen and make it special.

If you want to hone that pitch then you must know that communication consists of 3 parts: the SENDER, the MESSAGE, the RECEIVER. To communicate well you need to think about how you are communicating (your style and tools as The Sender); what you are communicating (the key elements of The Message; tell a story, engage the audience); and the ‘mindset’ and needs of The Receiver (know your audience and tailor the message to them).

Lastly, when it comes to being the latest innovation there are many common misconceptions out there and the top seven might just be:

7. Successful ventures are VC funded – only 12% of fastest growing companies in fact

6. Successful ventures are B2c – it’s more volatile and takes more time

5. Products sell online – even Google has a sales team for each country

4. Start-ups are born global – very few mature companies are even global

3. Break through ideas are instantly profitable – you need to plan & execute first

2. First movers are best – maybe if it’s a gold rush

1. We are the only ones – no competition probably means it ain’t worth fighting for

Now, don’t forget it is not all about the money so find people that are willing to work with and for you to make this dream a reality.