So you’ve launched your company or at least aid the groundwork for the launch. Now what? Some businesses are not a great fit for angel or venture capital funding, so other alternatives need to be discussed.
Maybe it’s time to try a different approach.
What if your startup is a good candidate, but you’re having trouble getting meetings and convincing investors that your company is the next big thing?
Here are some quick tips to impressing potential investors on why your business is the next great startup.
Actually take the time to know them.
Take them out for a night on the town. Treat your investors to a night out in your local market and get to know them on a more personal level. Many investors feel that they are just seen as banks or checks, so be the one that shows them they are not. Invite them to a local concert or to a sporting event. Show them that you are serious about your business and that you value their time.
Show then you are serious.
Show them numbers, usage stats, testimonials, ROI reports; anything that can show them that you care about their investment and that you are serious about your business. Remember, they may be considering 10 other startups so make yours stand out.
Let your investors know you aren’t just selling them your product, but you are selling them an entire team to back it. Choosing the right leadership team for your startup is a delicate process, as having the wrong co-founders can ultimately be more hurtful to your business than having no co-founders at all.
Find an investor that is also a partner.
Be on the lookout for investors that can really add something tangible to your business beyond just money. An investor who can help make your business stronger—whether through advice or industry connections and knowledge—will ultimately serve you better than an investor who has money to offer and nothing more.
Avoid Following the crowd.
Remember, chances are these investors are interested in many other startups, so to attract the attention of an investor, make sure your product solves a real problem. Many entrepreneurs simply try to reinvent the wheel, so avoid being one of them with a unique idea.