Get funding for your start-up or concretise that brilliant idea you have been nurturing for a while!
Several components factor in when investors deliberate their intention to pour money. Nonetheless, while pitching your ideas, it is always wise to rely on chalked-out strategies since financial leverage is always an indispensable element to expanding your business or turning an abstract idea into concrete reality.
Besides surrendering to online fundraising platforms that have made a reputation among accredited and staunch investors, designing a strong groundwork to get started is an imperative step towards convincing investors about the viability and potential of your venture.
Prepare a Clear Roadmap
Investors would not want to risk capital in an economy vulnerable to volatility and unpredictable risks. This is where minute implementation of details becomes relevant to stakeholders and prospective investors. Creating a roadmap from scratches also prepares you with timeline, split-out work streams to keep at bay glitches and impasses, identification of crucial transitions and intersections of a project and predefined milestones to evaluate success.
A couple of brainstorming sessions can do wonders for the business model or novel idea you are vouching for. A roadmap drafted by anticipating probable risks and challenges assures that the investment retains the capacity to procure 10x of the amount.
Research to Choose the Right Investors
To keep the plan from derailing and meeting with a sorry mess, extensive research to stumble upon investors whose keenness, experience and knowledge align with the industry you are investing in could be great leap forward.
Prior to networking with investors, obtain a clear idea of your goals and in-depth and functional industry expertise to evaluate if the investors are at all familiar with the domain to pass a judgement. Background experience to delve into their track record of previous investments could give you the final nod. The last step also allows you a sneak peek into their transparency and honesty in conducting business.
Leverage Personal Networks and Referrals
Fundraising is all about visibility, and the principle applies to both investors and receivers. Picking up on close contacts and soft-selling your plan or business model is a rather organic way of procuring the capital you would need to fall back on. Besides organising events, scheduling in-person meetings or direct messaging on pertinent social media platforms could be amazing ways to get heard.
To level the playing field, make sure you are prepared with an alternate forecast model and financial statement to seize financial opportunities coming along your way.
