Sourcing funds to run a business has been identified as one of the most challenging aspects of growing a business. However, you can make the process easier for yourself by ensuring your business is always investor-ready just in case an opportunity pops up.
Need to source funds soon? Here are some tips to get your business investor ready.
Tip 1 – Have a great business plan or pitch deck.
Your business plan or pitch deck is what opens the door for you in the first place. It should be well-detailed and contain critical information about your business that will help investors make a decision faster. You should clearly state your business goals, how you make money, and your market and financial projections.
Tip 2 – Showcase Your Team’s Strength
Investors have been known to support businesses with a strong team that showcases a combined competence to be able to excellently grow a business. Make sure you build your team and position each team member appropriately when meeting with investors.
Tip 3 – Know Your Numbers
Investors speak in numbers, and they want to be sure that they will get returns on their investments. As a business owner, you should be able to provide detailed financials about your business, which should clearly show your growth projections.
Tip 4 – Show Your Growth
Investors are more likely to invest in a business that has shown some growth over the years than one that has been stagnant or struggling. Ensure that you clearly communicate how your business has grown over the years and the successes you have had, no matter how little.
Tip 5 – Be Confident and Communicate Clearly
Investors can tell when you are passionate about your business. You must be able to translate this when you communicate. Make sure you speak with confidence and communicate clearly. A good practice is to look into the mirror every morning and give yourself your 1-minute elevator pitch, if you can convince yourself, you can convince anyone!
Remember, always be prepared, and confident, speak clearly, and have a great pitch deck or business plan.
