this post was submitted on 19 Sep 2023
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I think you forgot a few steps such as have connections with rich investors, and having the time to devote to developing your idea into a business. If you're born poor, then statistically speaking you're never going to get the opportunity to even try to start a business because you're going to be too busy making sure you have food to eat and you can put a roof over your head. In US, your zip code is a good predictor of your success because early opportunities play a big role. Rich kids get far more of them than poor ones.
My point is that rich kids get funded partly because they are rich and have connections, but also because people tell them they can do it.
Almost all investors will accept emails with pitches. You can build a pitch on nights and weekends while holding down a full time job.
I am just trying to encourage people to realize it’s more possible than they think because I wish people had told me that.
Cold calling investors with a pitch is about as likely to get you funding as buying a lottery ticket. Sure, once in a while somebody will get lucky, but it's an astronomically unlikely scenario. The reality is that investors are highly unlikely to throw money at an idea from a person they've never met before who just randomly sent them an email with a pitch. They're much more likely to get a return investing in a business from somebody they know and have confidence in. You're far better off making a Kickstarter campaign for your idea than trying to pitch to an investor.