10 LIES NEVER TO TELL INVESTORS, 27 JAN

10 LIES NEVER TO TELL INVESTORS, 27 JAN

All the confidence in the world won’t convince a VC these statements are true. Here’s why these 10 fibs hurt you — and what to say instead.
By Erik Sherman Jan 23, 2012
Serial entrepreneur and VC Guy Kawasaki recently wrote a post listing the 10 lies entrepreneurs tell investors. These are classic lines that he hears in virtually every company pitch he sits through. I’ve added my own analysis below as to how they translate to investors’ ears:
“Our projections are conservative.” If you were really conservative with projections, you’d see that conditions could be bad enough to cause your venture could fail. When you pretend that failure is not an option, investors know that you haven’t done your homework.
“Jupiter says our market will be $50 billion in 10 years.” It doesn’t matter what any analyst says. Their projections are often wrong. (How many times have they predicted the paperless office?) Even if they aren’t, that doesn’t mean you’ll get any slice of the eventual market size. A handful of giants might split it and leave you with nothing.
“Several Fortune 500 companies are set to do business with us.”Either companies have signed a contract or they haven’t. If they haven’t, then they are at best a prospect. Hyping sales efforts is a bad habit to get into.
“No one else can do what we’re doing.” No one and nothing is irreplaceable. You will have competition and you have to assume that they will be good.
“Hurry up because other investors are about to do our deal.” If they’re about to do a deal, why do you have to talk to these people?
“Our product will go viral.” Everything says their product will go viral. Almost none do. The odds are heavily against you—even if your mother likes your product or service.
“The large companies in our market are too big, dumb, and slow to compete with us.” Large companies have enough money to crush you at the start, should they choose to. There are reasons those giant competitors grew to their present size..... See more: http://dinaresgurus.blogspot.com/2012/01/10-lies-never-to-tell-investors-27-jan.html

One more....I am 99.9999999 % sure today is the day.