10 Things You Need to Know When Seeking investment – originally posted here
When you’re starting a business, one of the first things you’ll need is an investment. The investment can come from a wide variety of sources, but it’s always essential to make sure that you put your best foot forward.
In this blog post, we will share an example pitch and then discuss the ten things that you need to know when seeking investment for your business. By following these tips, you’ll be sure to impress potential investors and increase your chances of securing the funding you need.
Navigating the Waters – The iFlip pitch
The 10 Things You Need to Know When Seeking Investment
First and foremost, you need to have a clear understanding of your business model and how it will generate revenue. Investors are always looking for businesses that have a solid plan for making money, so be sure to do your homework in this area.
Secondly, you need to have a strong team in place, including not only experienced and qualified employees but also a board of directors or advisors who can provide valuable guidance.
Third, you must have a clear understanding of your target market. Who are your ideal customers? What needs do they have that your product or service can address? Having this information will help you craft a compelling pitch to investors.
Fourth, you’ll need to put together financial projections that show how much money you expect to make and when. These should be based on realistic assumptions and supported by data.
Fifth, you must be prepared to answer tough questions from investors. They’ll want to know about your risks, your competition, and your potential for success. Be honest and transparent in your responses, and be sure to have solid data to back up your claims.
Sixth, you’ll need to create a business plan that outlines your goals and strategies for achieving them. This document should be clear, concise, and easy to understand.
Seventh, you must be able to articulate your vision for the future of the company. What are your long-term goals? How will you achieve them?
Eighth, you’ll need to have a strong understanding of the current state of the market and your place in it. What trends are you seeing? How will your business be affected by them?
Ninth, you must be prepared to negotiate with investors. Remember that they’re looking for a good return on their investment, so don’t be afraid to ask for what you need. It’s also crucial that you think carefully about who you want as an investor. As stated in their article “The 14 ways to stand out when seeking investment”, the Fobes Business council state “, It’s more important to have the right investors and banks on board than the financing they offer. Otherwise, all you really have is an additional layer of decision-makers that slows you down. Be more concerned with conducting due diligence on them rather than stressing over presenting yourself. Treat this like any sale: Focus on partnering for a mutual benefit rather than what you want. – Maurice Harary, The Bid Lab. You can read the full article here
Finally, tenth, you should always have a backup plan. What happens if your first choice doesn’t work out? Having alternative funding sources in mind will show investors that you’re serious about making your business a success.
By following these tips, you’ll be sure to stand out when seeking investment for your business. Remember that investors looking for projects to fund. When you are looking at how to convince investors to invest in your business, remember investors are looking for companies that have a solid plan, an experienced team, and a clear understanding of their target market. Understanding these ensures you know
Do you have a female-founded startup that needs funding, or you’re an investor interested in supporting female entrepreneurs, please contact us. We’d love to chat with you about how we can work together.