Reducing Burn Rate Tip Sheet #3

Most investors want the bang for their buck and you can get a bad rap easy if you are not resourceful or show restraint.

This tip sheet will show you how to be as frugal and resourceful as possible before taking VC funding.

Information Gathering and Idea Testing as a person with an idea you should spend a min of 3 hours a day researching.

Are you qualified to bring your idea into fruition:
Investigate scholarships on skill- set upgrade
Legal, Technical, Basic Skills.

Events:
Are you going to trade show events.
Are you going to pitch events to determine market place needs and competition
Recreational events where investors will be more likely to attend.

Personal Downsizing:
Investors like well groomed people; however if you show up in the latest Gucci, Prada, dripping in Chopard diamonds then that sends red signals.

Start extreme couponing:
Women- Fast Causal Clothing Stores, in home mani/pedi at home blowouts
Research free insurance and food stamps programs, many farmers markets take food stamps.
Men- Ask a friend to cut your hair, start a gym at home.
Recreation: If you live in NYC or the LA area then:
Attend a free taping of a TV show
In house day of board games
Museums have trivia night for under $15.00

Schedule: Be a disciplined person from now!
Schedule time for: R&D, Product Design, Future Product Lines and Growth, Investment Allocation, and Legal and Accounting. Keep records of your day with Outlook or Google Calendar.

This not only shows discipline, seriousness, but you are person that will not disrespect the time, talent or money of investors.

Cheers to reducing burn rate!

Comments

Post a Comment

Popular posts from this blog

Top 5ive Online Sites

 I am all for online shopping, click, click... Today, I am choosing the Top Five sites for online shopping all for very different reasons. 1. Gilt.com  Everyone has heard of them by now, the reason why they snag the top spot is for "Gilt City" offers, Gilt Taste Gilt Home, and of course Gilt Women offerings. "Gilt City" offerings are truly one of kind experiences, and the deals that I have gotten in on, were well worth the money. One deal was a Book Party for Peggy Post at Michael C. Fina, not only did participants get the New Book on Etiquette by Peggy Post, participants where given a 15% discount at Michael C. Fina and the experience of a book party with Peggy Post. "Gilt Taste"  I planned my entire gratitude party using the majority of findings on Gilt Taste, the pricing, shipping charges, and scheduled date of delivery were all fair and accurate. "Gilt Home" offerings I used for my party favors with their candle blowout sales and c
Read more

Waterford or Lenox Anyone??

Hope everyone has recovered from budgeting 101, yesterday. Today, we enter the fine world of crystal and china. You know the stuff that your girlfriend puts on her bridal registry, gets it, but serves you on paper plates. Anyway, one day I was scouring around the Internet to price some crystal flutes. I came across a great, great deal! In the world of crystal and china- Bacarat- the most famous and expensive, waterford.com , and  lenox.com The price points can run from 5,000.00 to a basic Bacarat vase to 150.00 for a leaded crystal flute from waterford.com . In terms of china, my sister's  lenox.com full service china set that I have yet to eat off, which was 10 plus years ago, cost about a month's rent. Anyway, back to the deal-- I was on the  waterford.com site which was absolutely breathtaking, then I noticed the discontinued section, click, click-- 4  waterford.com flutes for only $35.00. What?? I then asked someone else to read the price and description, just
Read more

Men's Grooming : Luxury

NYFW Men is literally right in three weeks,  so how does a male model keep his hair camera ready? We did some research on the best products that would keep a man 's hair camera ready. Julien Farel Salon This salon has the best anti aging haircare products for men. They also do all of the models for the Nick Graham Show. Those models are the best! Martial Vivot We came across this salon on the side of MOMA in June for the annual French Wink   Father's Day Event. This salon has the best hair care products in terms of being all natural. The manager explained to me  mass market products are okay, but as a man ages the harshness of the products causes premature hair loss. Wow! Who knew... They also sell their products at Barney 's, in addition to the salon. John Allen Salons They have the coolest vibe in Saks,  in terms of high profile salon. To get that ultimate surfer look the pomade is amazing with out being heavy or greasy. For luxury hair care service and products,
Read more