On September 30, in cooperation with Seoul CoinGeek Conference, there will be a \u201cPitch Day.\u201d Blockchain entrepreneurs will pitch venture capitalists for investments in their businesses.\u00a0 The blockchain space has no shortage of intelligent idea people who have the next great idea written down on a cocktail napkin. They know that with some investment capital, they can change the world.\u00a0 That may well be true, but to find the investment money their ideas need, blockchain innovators will need to package and prepare their concept.\u00a0 They\u2019ll need to prepare to present their next blockchain application ideas in the most transparent possible light. This preparation will allow venture capitalists and equity funds to understand the idea, understand the importance of the concept, and see that there will be a return on their investment.\u00a0 I spoke to a few of the key people\u00a0taking part in\u00a0Pitch Day. Paul\u00a0Rajchgod\u00a0is the Managing director for Private Equity at the\u00a0AyreGroup. Dave Mullen-Muhr\u00a0and Jack\u00a0Laskey\u00a0are\u00a0both Principals at Unbounded Capital and Zach Resnick, Unbounded Capital\u2019s Managing Director. The trio shared their considerations when it comes to investing in new businesses.\u00a0 \u201cA goal without a plan is just a wish.\u201d - Antoine de Saint-Exup\u00e9ry The first thing expressed was that before approaching venture capital or equity funds, entrepreneurs must have\u00a0a Business Plan. For clarity, it\u2019s not just a Powerpoint presentation but a well thought out plan for your business.\u00a0 Paul Rajchgod talks about the importance of preparation and legwork done by the people looking for investment, \u201cIn addition to having different investment mandates, every venture capital and private equity fund has its approach to seeking and assessing opportunities, managing risk, weighing pros and cons, undertaking due diligence, and ultimately deciding whether or not to proceed with an investment.\u201d He continues, \u201cSome investors prefer later-stage investments whose business plans have been somewhat \u2018de-risked,\u2019 and some are more comfortable with start-ups and their higher risk profile. In general, it\u2019s very beneficial for companies seeking funding to have already done a lot of their legwork. Start building your product, start testing your market interest, start seeking out partners to join your team. It\u2019s \u2018your opportunity,\u2019 so you\u2019ve got to do the hard work of starting the business.\u201d\u00a0 \u201cShow me the money!\u201d - Rodney \u201cRod\u201d Tidwell Investors want to know that the money they invest in your business will come back to them someday, it\u2019s essential that you\u2019ve considered how your idea will make money. Companies seeking investment will need to have\u00a0a Financial Model\u00a0to show investors as they\u2019ll want to know that you\u2019ve seriously thought about how your idea will make money.\u00a0 In this regard, Rajchgod said, \u201cAlso, you need to be able to explain to potential investors in a succinct and cohesive manner.\u00a0 What is your business is trying to achieve? What is the problem you\u2019re addressing? How are you addressing it?\u00a0 This needs to be explained in a business plan and with a sensible forecast - after all, you probably aren\u2019t building your business for free. What is the revenue model, and when does it kick-in?\u00a0 It\u2019s ok that your forecast for \u2018x years from now\u2019 won\u2019t turn out to be accurate, no company\u2019s forecast ever is, but it\u2019s still important for investors to see how you\u2019re thinking about revenue, where it\u2019s generated, what homework you\u2019ve done to validate your views that customers will pay xx (whether in Bitcoin or fiat) for your product or service. \u201cWho are you? Who, who, who, who? Who are you?\u201d - Pete Townshend Blockchain investors will want to know who they are getting into business with; it\u2019s vital that you are open and honest about your personal history and how long you\u2019ve been working on this business.\u00a0 Zach Resnick sums it up well: \u201cTrust is of the utmost importance for every relationship in life. Having a foundation of shared trust from previous business ventures or friendship is one of the most desirable unfair advantages an early-stage team can have.\u201d \u201cBrevity is the sister of talent.\u201d - Anton Chekhov To complement your business plan, financial model and personal history, they\u2019ll need a One Pager. Like the cover letter to a resume or a book synopsis, the One Pager gives the highlights of your plan; it will entice investors to commit to reading the rest of the dense documents you\u2019ve submitted as part of your pitch.\u00a0 Rajchgod has questions he\u2019d want to see answered, \u201cDoes the company solve a problem or maybe two with bitcoin as core to the solution?\u00a0 Is the technology scalable?\u00a0 Is the business already being built?\u00a0 Are customers using it (even in beta)?\u00a0 Is there a management team with depth in place?\u00a0 Does management have a track record of creating or helping to build growth companies before this one?\u201d\u00a0 Jack Laskey adds, \u201cBusinesses can be complicated subjects. It may take a short book to explain how your business works and its possible applications fully. So while a one-pager may leave out important details, it provides an excellent opportunity to develop a language for describing your business in a succinct but exciting way. A great one-pager will help you have a better initial conversation with potential investors and partners. It also makes your business much more sharable, both internally within VC firms and externally among investors. If your product is highly technical, having multiple one-pagers addressing different audiences may be useful.\u201d \u201cSorry to be a wet blanket. Writing a description for this thing for general audiences is bloody hard. There\u2019s nothing to relate it to.\u201d - Craig S. Wright\u00a0 Blockchain and Bitcoin start-ups are on the radar of many equity funds and VCs looking to invest in the technology, without risking investing in a coin. It\u2019s important to explain \u201cWhy Bitcoin?\u201d\u00a0 Zach Resnick explains the allure, \u201cBy and large, entrepreneurs and investors love the hype that comes from new fundamental technology like blockchain. As a result, despite massive value being created, there are exponentially more projects that don\u2019t have a firm grasp on what blockchain is than do. Of those that do, few that can succinctly explain why, for example, building on Bitcoin gives them a competitive advantage or opens up a new market not possible before.\u201d Dave Mullen-Muhr continues, \u201cInvesting in Bitcoin businesses allows for a variety of potential business models. Some look similar to what has proven successful with existing tech companies, while others are novel concepts, with the ability for unusually low overhead, or entirely new monetization paradigms such as micropayments.\u00a0 What\u2019s so exciting is that the businesses exploring these uncharted waters can set new precedents on how the internet will generate revenue.\u201d If you have the next great bitcoin idea and you need investment to take it to the next level, consider reaching out to the gentleman at UnboundedCapital.com or sending your pitches to the Ayre Group by using our Ventures Capital form.