Cathode Ray Dude commented on the following stories on BizSugar
Great resource for anyone working to get funding for a venture. This is just one more way you need to sell your business/product/service/brand to the world. It's not just a question of putting together a bunch of figures that show your business model could make money. You must sell investors on the idea that it will and make them not want to miss out on the opportunity. "
Bobbleheads can be worse than useless, they can be downright dangerous for your company, eliminating any compass or sense of direction by simply agreeing with everything you say. There is, of course, no way to know whether more vocal critics among your advisors are always right, but they do provide some counterpoint allowing you to weigh decisions more carefully and against other points of view. I'm sometimes amazed how many companies view critics as simply negative and prefer bobbleheads instead. These are sometimes called "team players" in the vernacular but are not loyal to the team (only to a salary and the flavor or leader of the month) and are ultimately detrimental to the team's future since they bring no valuable insight or even true feedback but only an endless echo chamber in which the only ideas are your own being bounced approvingly back at you. "
This is also another good reason to avoid making a huge investment in the beginning until you have identified a workable business model. It's true that some business ideas are capital intensive, but trying to move into a market in some low investment way (consulting etc.) helps you get to know the business first and easily move out of it and into something else if the barriers of entry seem too high or the market too uncertain."
Point three is probably most important, the relentless search for new customers perhaps outside your comfort zone. I'm sure some entrepreneurs are able to stick with the same tight circle of customers or fans but in a rapidly changing market this seems an increasingly risky strategy."