So, you’ve created an amazing idea or concept, one that you know that everyone will want in their lives, but you need investors to make your dream become a reality. Every day potential investors or companies are bombarded with dozens of pitches and they wont have time to see everyone. You need to make yourself stand out from the crowd and be the entrepreneur that companies will want to invest in.
Here are five ways to get people to invest in your start up in 2017.
1) Social Media – We now have the ability to reach the whole world at the touch of a button. If you want to make contact with potential investors or clients then knowing how to get your message out there is a huge skill in attracting people to you and your creations. Making yourself and your ideas clear to the public and regularly updating your progress with what you are up to is a great way to help to increase your levels of engagement. Basically, if there’s a buzz about you, then investors will come forward. Remember that everything that put on social media needs to match the image that you wish to portray. Keep your private life private.
2) Explore funding types – You may be lucky enough to have spare personal cash to put into your start up, or have generous friends and family who are willing to invest. For other start-ups it could mean applying for a bank loan, venture capital or perhaps a government grant. Knowing your figures and having a clear business plan will help attract investors. You might also want to make any cash you have go further. There are lots of tips on shares and the opportunities in the market from IG Australia.
3) Create a winning business plan – Form a clear profile showcasing who you are and what your business is representing. It may seem strange to make a plan for the next ten years, but investors will lap this up. They are keen to see that you have aspiration and that you have carefully considered the way in which you will build your business.
4) Preparation – Once you have formed a business plan, test your ideas out on people (not your best friends who will feed your ego either). You need to find volunteers who will give you an honest critique. Once you’ve completed your market research, go back to your original plans and adjust where appropriate. Never be afraid to adapt your ideas to make a better creation. Investors will be keen to know how your ideas progress as it will show your ability to tackle problems.
5) Crowdfunding – More and more start-ups are now looking at setting up a crowdfunding website to get their idea off the ground. This means potential customers pledge money through the website to make a product or service a reality.
Besides these tips, be honest about your business and yourself at all times. It is natural to want to impress potential investors but any experienced investors will spot a lie a mile away.