The most important thing to make your business venture successful is $$. To get financing, you need to impress investors, and trust me, that is not an easy task. So before you venture into the investor market and pitch your business, here are some tips to help your prospects:
Smart Stalking: Just finding investors can be tough. They hide because otherwise they’d have everyone asking them for money all the time. The best way is to get a personal introduction from someone that knows the investor. That’s where networking comes in handy. You can also use resources such as LinkedIn to find potential investors. Also, many people that call themselves “investors” actually don’t have experience investing in companies, so be sure they have done investing before.
Speak Their Language: When you are presenting your business ideas in front of the investors, be very careful regarding the language you use. There are industry-specific terms which might not be understood by everyone; so speak in simple, plain language to avoid misunderstandings.
Remember That It is Their Money: One investor pointed out that the key for an entrepreneur seeking funding is to figure out how to convince an investor to pull out his or her wallet and why they should invest. Put yourself in their shoes. Why would you invest in your business?
- Bryan Daigle
President & Founder of ideatango.com – the #1 site for inventors & invention ideas For more good info & advice, check out the official IdeaTango Blog
