Be a missionary, not a mercenary
Be honest with yourself for a second. Are you solving a problem you really feel strongly about? Or are you just trying to make a load of money? A mercenary just wants to make money and would start any company that they thought would bring the biggest ‘prize money’.
In reality, chances are that the mercenaries of the world are not going to be a successful entrepreneur. And those mercenaries that are a success, won’t do it with backing from a venture capitalist. Think of it from the investors point of view — you wouldn’t give millions of pounds to the guy that will lose interest as soon as a more lucrative opportunity comes his way. As soon as a mercenary is feeling the heat, they’re likely to give up and find some other way to make money.
Now there’s nothing wrong with wanting to make money, but it can’t be the only thing you care about. Investors want to see that you are a missionary. You care passionately about solving a problem and you’re committed to getting it done. You’ll not only attract investment — being a missionary will make it easier to attract early employees who are as committed as you are, and your customers will join your ‘tribe’ in droves.