That’s not the case for human vision in the optical spectrum, which is broadband and incoherent
I read two or three business plans a week. I’ve developed a checklist of irritating elements that entrepreneurs are best advised to avoid if they want to succeed in raising finance.
Complicated and aggressive non-disclosure and confidentiality agreements
There is often an inverse relationship between the length of the NDA and the scale of the project. While entrepreneurs should try to protect their intellectual property, these contracts are really more of a ritual than of any practical use.Advisers taking a disproportionate fee
I was presented with a plan last year where the adviser stood to collect 20 per cent of the funds raised. It put me off the proposition. […]Founders offering no “hurt money”
I want to see the promoters having plenty on the line, to make sure they don’t give up too easily if the scheme goes wrong. […]Complex financial modelling
I read a plan recently for a £100,000 revenue confectionery business that had 10 tabs of Excel spreadsheets. My eyes swam when I tried to understand it. […]Too much focus on five-year financial projections
What interests me are the next 12 to 18 months – further out is pure speculation, especially for an early-stage business. I never buy shares based on what might be possible years away – I want to see what milestones can be achieved in the near future.
