To Attract Funding, Develop a Prototype
To Attract Funding, Develop a Prototype

To Attract Funding, Develop a Prototype

Gone are the days of build it, and they will come. Now entrepreneurs are putting more of a focus on developing prototypes. Why develop a prototype? They show what works and what doesn’t, generate customer feedback, and help investors understand — and decide to fund — your vision. And for many entrepreneurs, getting investors’ attention is imperative for gaining traction.

Here are a few reasons why investors love prototypes:

They create an emotional connection.

Investors are more likely to put up money if they have an emotional connection to the product, and that’s most likely to happen through a prototype. People’s attitudes about a product change when they take it into their hands and use it. (If people need to rely on their imaginations to understand your product, they’re not going to get excited.) …

(Read the rest of JD’s article at Entrepreneur.com.)