Tip’s to get your startup in the bird’s eye view
Having an idea for startup is easy but implementing that idea from ground is challenging. Entrepreneurs who has successfully raised startup know how important it is to save money throughout these phases. Any idea or lets say project will cost more money as well as time than anticipated. Looking for investors to get funding is not easy as it will require investment of our own, but if we sincerely use our time, money and energy from your early phases, you will have a higher chance of reaching your goals. My suggestions to people who frequently reviews startup pitches, having a well-thought-out plan for all phases is necessary to be successful.
Here are few top suggestions for securing the interest of investors, and eventually raising funds:
1. Having a good idea is not enough, implementing that idea is more important for investors: The business idea we present before the investors must be adequate and fully planned, while the angel investors focus more on physical appearance, mindset and even the words we use. So be well prepared and give many more thoughts to the way we present ourself.
2. Use social media: Social media can be used for variety of purposes. A positive presence in social media can connect with investors through LinkedIn and Twitter. Following investors and keeping track of their posts can help a lot in knowing their interests. If we want to gather their attention so post something in which they are interested to show that your values and ideas intertwine with theirs.
3. Know targeted investors: First thing is to do thorough research on the investors background both personally and professionally, points to remember during research, in how many business have they invested in past, have they invested in business like ours in past, status of the business they invested in ?, keeping these questions in minds can find potential investors with interest and belief who can increase the chance of successes.
4. Know exit strategy: The most important topic for entrepreneur to present before the investors is to address a mutually-beneficial exit strategy, investors want to see the strategy that offers more benefits like seeking returns earlier than anticipated so that they can buy more private companies that are roadblock to them.
5. Reach out to our level: In the starting stage of the startup, look for small investors which can lead to our chance of success in beginning, choose small investors who invest in similar type of business and once business is established as a brand, then go ahead and reach out to big investors as our success in beginning phase can’t stop them raising funds for our business.
6. Keep moving on: Never stop, keep working. If we doesn’t get the result in beginning, try again with positive attitude and keep believing in ourself. Our hardwork itself will make our business flourish.