Not So Sweet FA And You

Written on December 3, 2010 – 12:56 pm | by Michael Harris

The process of raising angel investment is much like trying to win the race to host the World Cup. Often you’ll start years ahead; working diligently, you’ll ask people’s opinions about your chances; you’ll have meetings; build a plan; bring experts on board; revise your strategy and build the best presentation and then “crush” the delivery – only to find out that being the “best” in so many of the essential criteria, you end up empty handed. You walk away asking “why?”

The thing is that raising angel investment is a world away from winning the hearts and minds (I’m not mentioning pockets) of 22 FIFA executives. When looking for funding you have more than one shot. If you fluff your lines there are regular funding events so you can take as long as you need to digest the feedback you’ve been given, amend your strategy and re-present.

This feedback is another difference. Even though it has been reported that four FIFA officials have said that British media coverage killed the English bid’s chances, no-one really knows the reasons why it failed. With raising funding from Business Angels you’ll get feedback, you’ll know exactly what you need to do before they will fund you.

Failing may seem unbearably unpleasant. But Sepp did make one good point (it seemed like he was preparing the English for a let-down): loosing is part of the game and it’s something that one must learn from. The lesson that might need to be learned by The FA could be a simple one: the time just isn’t right for England?

However much your closed community sees your product or service as wonderful, it is how it stands up to the harsh light of critical inspection by your peers that counts. You need to consider how much the world needs what you offer? Does your competition press the right buttons with your ‘customers?’ Is the time right for you? Is public sentiment in your favour? Is your market saturated? It would seem that English football has already been fully exploited and FIFA, with is focus on the bottom line, it feels it can make more in these other markets.

If you are absolutely convinced your idea is fantastic, go for it. If you fail, your next opportunity arrives when you allow it to – unlike The FA who have to wait a generation for their next opportunity -how will your life be different when we have to go through this all again?

Perfect Business!