What if your startup is a good candidate, but you’re having trouble getting meetings and convincing investors that your idea is the next big thing? If you seriously want to attract investors then consider these 6 steps.
Networking is usually the number one tip for new entrepreneurs for a good reason – it allows you to pitch your start-up less formally, and more organically.
While there is something of an art to the organic soft-sell, when done right it can make investors more likely to consider your business.
2) Acquire Consumers
You need money to get customers, but you need customers to get money. A catch-22, but it’s worth making an effort to acquire consumers before you approach an investor. Know your market to effectively acquire early adopters.
Attract investors with proof that your idea is going to work, and nothing proves this better than having real, paying customers.
3) Ask for Advice
Instead of cold calling investors begging them to invest in your business, consider asking to pick their brain first.
Strategically reach out to an investor for advice. You may be able to build a relationship. Good relationships manifest a greater willingness to invest in your business down the line.
4) Have an Impressive Team
To attract investors, you’re not just selling them on your product or service; you’re selling them on your team. With that said – don’t take on just anyone – especially when just starting out!
Choosing is a delicate process, having the wrong co-founders can be more hurtful to your business than having none at all. Working with our team could already give you a step up based on our track record.
5) Know the Return
While investors may believe in your business, their investment is ultimately a means to an end. They need to make money on their investment. It’s important to highlight what they will personally gain from investing in your business.
6) Solve a problem
To attract the attention of an investor, make sure your product solves a real problem. Too many entrepreneurs simply try to reinvent the wheel, so avoid being one of them.
Basically put, avoid just following the crowd. We could help you by using our design thinking techniques. Our customer-centric pitch deck usually ignites the interest of investors.