How to impress the investors?
Who are investors?
Investors are on the lookout for businesses that have good stability to stay in business in the future. Whether your company has almost the promising success, they will look out to invest their money into your business. They are people who are there to help if you have a sustainable business and need finances to grow your business.
How to impress them?
Are you trying to find funds for your business?
Then the first thing you have is to create a plan to discuss that with your friends and family and see advice from professionals about your project. Say you are happy with your schedule. If so, what are you trying to sell, either a product or service? Have you made your decision about your product or service? Do you know whether you have a passion for it? I have to warn you if you do not have the power, you might waste your money and precious time after spending your time in your research.
The next question you have to ask yourself why do you want to become an entrepreneur? Are you happy with your answer/ Are you not trying to start something just because your friend is running a business? Before stepping into anything, you have to ensure that you have genuine reasons to start a business because you will spend most of your time and money on that. And you do not want to face failure at the start itself. I am saying this because I went through this. After all, I started a business for my partners and lost everything in the end.
Another important thing in starting a business is checking whether your product is marketable and how your competitors do. Have you followed them for a while to see how they overstate their business?
So, you have to become knowledgeable in all these and prepare yourself to answer the questions from the investors. It is almost like getting a loan from the bank and how you prepare yourself when you go to meet the bank manager.
You are ready with all the answers to all the questions that I mentioned in this article now. Get willing to put all the in writing that means prepare your business plan. A business plan will include the following.
- Operational plan
- Marketing plan
- Financial plan
Then the financial plan should include a budget forecast and a cash flow if no investor will become interested in your venture. Your business plan helps you show your investor the seriousness of your project and see the validity of your experience.
When you prepare your financial plan, it shows the financial needs for your planned business. That allows you to decide whether you need an investor.
You will ask yourself do I need to attract investors?
- Can I manage with the money that I have now?
- Will it be helpful if I attract investors?
- What are the financial projections?
- What is the company’s exit strategy?
If I need investors, I need to include the answers to the questions from the investors. Therefore, writing a business plan helps prepare my answers to those questions, just like a finance proposal.
Your final questions give you the final decisions about whether you need investors and how to impress them.
So, after all the above analysis, you will be free to make your decision also ready to answer any questions from the investor. If you find it challenging to create your budget and the cash flow, which are crucial for your plan, get some help from a finance professional to do that for you.
How to find investors?
I run my business with no help, and I am looking for an investor and planning many ways to find an investor.
One of the easiest ways is to talk to your friends and family if you have an excellent idea or take your business off the ground.
Find a small business in your industry and collaborate with them to help yourself financially and emotionally.
There are few ways that I will mention here that I tried.
- Crowdfunding
- Angel investors
- Quora
- Micro investors
- Through your mentor
- Angel investor network.
Finding an investor is not that difficult if you follow the correct path mentioned in this article. I hope that you understand the ways to find investors also to impress them to join you.
