Sponsoring is a risky route a company, or anyone for that matter, can take. Whether the company or investors are backing up an event or helping a new business start out, there is always a sort of risk that is carried by these sponsors. What this risk is is the question of whether or not its investment is being put up to good use. Humans, who even build their careers by taking risks, won’t go do something that they know would not work. Because of all of this, it makes it extremely hard to get a sponsor to help you out.
But then there are cases like this, http://www.dailymail.co.uk/news/article-475095/Dragons-Den-reject-celebrates-soaring-sales-worthless-invention.html. The Dragon’s Den, a well known angel’s investor, whose mission is to help supply venture capital to beginning companies, looked at Rob Law’s Trunki idea and totally ripped him apart. They believed that this invention of Mr. Law was another run in the mill bad idea because they were not convinced nor believed that such a creation would be able to make any profit. But instead of giving up, Mr. Law persisted with his creation, and short time later he became a multimillionaire just from this product of his.
This continues to prove that persistence is the key in creating a business. Even if world renowned individuals reject your idea, it doesn’t mean game over. What they are, are just individuals. They may dislike something about a product but this doesn’t carry on with the rest of the world. And so persistence is the key to creating a good company.
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- The Angel Investors
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- Trunki