There was no way to get the word out that you had a deal. An entrepreneur's ability to raise the money was tied to his or her ability to network. With the Internet explosion, all that's changed. Pasko admits, however, that the more things change, the more they stay the same. He adds that entrepreneurs who have mastered this skill are still the winners when it comes to raising money, while those who have a fear of flying may be forced to run their companies a little leaner.
Entrepreneurs generally say too much or too little.
If you bore your investors to tears, your presentation is far too long and indicates to the savvy investor that you are unsophisticated when it comes to the rules of engagement. It also tells your audience you have doubts as to what information is critical and what is simply fluff. On the other hand, you'll give investors the impression that you're unwilling to share important information if your presentation doesn't go on long enough. You want your presentation to last about 20 minutes unless, of course, your company is sure to be the next Microsoft, in which case you can tack on an extra five minutes. These are almost always failures, particularly for technology-based products that rely on a PC, a laptop or a network.