Getting an investor to fund your business is a herculean task as it often involves proving the feasibility of your idea and your willingness to share the equity of your company or business.
Even so, having an investor on board presents numerous business growth opportunities. Not only will you have access to financial liquidity but you can also leverage their expertise and networks alike.
Investors are more often than not high net worth individuals who help you turn your idea into a revenue-generating project by pumping capital for mutual benefits.
Track records matter. When pitching for an investment ensure that you showcase your past achievements. Highlight your expertise and years of experience. Present yourself as an answer to market needs.
Demonstrate market demand-investors want to be certain that they will get a return on investment. As an entrepreneur, you need to pitch with your facts as evidence. Do your market research and present facts that back up your assertions to prove to your investors that your product /service has a ready market.
Have a clear and detailed roadmap-Detail is the name of the game. Have your facts right to precision.
This includes your ideal customer, how you plan to reach them, long and short-term goals, acquisition of a product, talent management, and projection of income
Take into account competition-each business has competition. As an entrepreneur, your job is to prove how different your business is from the person next door. Devise strategies to counter your competitor’s strategies.
Learn to build trust-this can only be established through open and honest communication. Reveal any loopholes that may arise in business.
Stay prepared-You only get one chance to pitch your idea. Make the best use of it. You can prepare by rehearsing with a friend, asking for advice, and interrogating your idea and strategy to ensure there are no unsealed loopholes. Not only does preparing enhance your confidence, but it also ensures you seal all loopholes that may have been oversight.
Realistic and reasonable initial investment-do does not overquote or underquote the capital you seek from an investor. Consider your size, client base, and capacity in deciding the ideal amount. It's also key to communicate how you intend to utilize the funds to grow your business.