Investors can help startups be financially stronger. Far more than that, they also can be your partners to help in making insightful decisions, even assist the day-to-day operations for your startup.
Moreover, if your investors have the knowledge and adequate experience related to your startup field, they can provide valuable consultation, suggestions and be the advisory role for your young business.
Adequate capital will help your startup to thrive and grow, while supportive advice from your investors will drive your business to expand optimally, even reap the results beyond your expectation.
However, as startups are coming up with more and more terrific concepts and prospective visions, finding potential investors is not as easy, especially when you cannot convince them, especially when you are not able to stand out from your competitors.
If you haven’t found any potential investors for your startup, these are some helpful tips to help you attract them:
Get the Fundamentals Right
Investors are looking for great innovations and competent people who can talk the talk and walk the talk, executing the ideas through ripe strategies and planning.
Profit-orientation is an ideal concept to establish a startup, but you can consider adding some additional values to make it exceptional. Charity-orientation to help people improve their life and well-being would be a great additional concept to make your startup stand out and attract more people to invest.
Wrap Your Startup Concept Attractively
As the startup founder, your communication skill will be tested when presenting your startup concept to the future investors. Do the presentation in a simple, clear and convincing way. Show them how you are going to bring ideas to fruition but leave some space for them to give valuable inputs for further improvements.
“Remember that if you’re meeting with an investor with experience in your space, they should be able to understand your business proposition very well already,” says startup CEO Scott Cohen. With patience and much practices, you will be able to wrap the concept in a most attractive package. Be confident, likeable and show your great personality too!
Be Honest and Realistic
Seducing the investors with an ideal scenario figures might be the most effective way to get quick funding from your future investors. However, if you are presenting your startup in a dubious, less transparent way, it will end up in disappointment and distrust.
Keep in mind that being truthful is always better, as you don’t need to cover up anything and deceive anybody about the real condition of your startup. Show them that your team is ready to take the risks and work hard to figure out the best strategies to overcome the unsolved issues.
Being honest and realistic will enable you and your team gaining more respect, better impression with a great entrepreneurial spirit. Your investors will accept your startup just the way it is, and might also give pointers for your issues.
Expand Your Network
Everyone is a potential investor, so try to pass out your business cards and build more connections everywhere you go. Networking events, business fairs and seminar are some great places to expand your networking and meet new people with similar interest and fields.
Attracting potential investors is tough, but with effort, your startup will attract genuine and experienced investors ready to help it grow. Good luck!
Next read: What Startups Should Know When Seeking a Mentor