A day-dream pitch and an elaborate business plan will only get you so far with these investors.
As a substitute for, it boils down to this: How quick do you want to get rich? If the answer is “overnight,” greater take your pitch elsewhere.
Self-made millionaires and veterans of the oil-and-gas main industry, Michael “Rooster” McConaughey and Wayne “Butch” Gilliam put forwarded up some sage advice in their new reality series, “West Texas Investors Bat,” last year.
For Gilliam, the perfect partner is someone who has realistic expectations close by his start-up idea, is not emotionally distracted and puts some of his own money into the project. This future partner has to be willing to put “heart, mind, body and soul” into the project and glue it out for the long run.
“If these entrepreneurs were to come to us and say, ‘You know what, it’s the particle thing on my mind about getting rich. I just want to see my view work, and I want to work hard to achieve that. And whatever criticizes, I’ll reap the benefits later. And I’m patient and I’m willing to wait.’ Haven’t had one make known us that,” Gilliam said.
Usually, it’s all about the cash.
“The kind of put partner that we’re looking for, they’re hard to find, but we do know them when we see them” he weighted.
“They all want a daggone big ole wad of money up front,” McConaughey said.