Getting finance is not an easy task. It might be daunting at times, from getting ready for your presentation to planning what will happen after you take a chance. Every minute, many pitches are sent to investors, making it difficult to stand out from the competition and eventually gain money.
Having been in business for more than 20 years, I’ve learnt a lot from chasing after things that seem like they would work for me rather than what is best for my agency and myself.
“What do I put in my pitch deck?” was my initial thinking, as it is for most first-time business entrepreneurs. That is, until I understood that the most important thing I could have done was to establish a sincere rapport with these investors.
I’ve discovered that in order to obtain the capital needed for expansion and innovation, women entrepreneurs in particular need to take advantage of their distinctive viewpoints and skills. This entails displaying our unique insights and the ways in which our varied methods can result in notable advances in the industry.
After all the hardships I’ve faced to make sure my company succeeds and gains recognition, I’ve outlined six methods for you to follow that have been shown to be successful in obtaining finance.
Related : The 10 Most Reliable Ways to Fund a Startup
1. Make your pitch deck simpler.
You make a first impression with your pitch deck. It ought to be clear, succinct, and simple enough for even a fifth grader to understand. Steer clear of jargon and extremely complicated terminology.
Investors are too busy to look up definitions online in order to comprehend what you’re trying to say. They seek definite, achievable results. Give a clear explanation of your idea, emphasizing its benefits and possible effects.
2. Comply with the portfolios of investors
Make sure that before you approach venture capital (VC) investors, you have thoroughly investigated their current portfolio businesses. In a similar vein, specify exactly how your company might enhance their investments.
For example, if your company provides the software for restaurant kiosks and one of their companies has invested in a company that offers checkout services for these kiosks, emphasize the synergy and your value proposition. The investor will quickly recognize your potential as a good partner and why investing in your business would be a wise decision.
Related : 3 CEO-Level Mindsets That Create Freedom and Financial Independence
3. Recognize the various kinds of investors
Spend some time learning about and comprehending the distinctions among family offices, private equity firms, angel investors, and venture capitalists. Every kind has different objectives and risk appetites.
For example, an angel investor might be more willing to take a chance on early-stage firms. Private equity firms, on the other hand, prioritize finding well-established businesses. When assessing why doing business with you would make sense, be truthful about yourself.
4. Approach fundraising in the same manner as sales
Consider fundraising as rigorously as you would sales. Establish daily goals for cold calling, LinkedIn, and email outreach to possible investors. Using widespread and regular outreach techniques improves your odds of locating the ideal investor. Anecdotes from personal experience have great force. One client, who went on to become a unicorn, raised their first million dollars entirely on LinkedIn.
Related : Value Statement: Why Your Business Needs It for Success
5. Stress resiliency and education
Investors are interested in learning how you respond to challenges. Every company, but particularly new ones, has its sights set on the prize: success, and typically ignores the roadblocks in its path. However, investors are more interested in learning about your ability to overcome obstacles and the lessons you’ve learned than they are in these difficulties alone.
Tell them honestly about how you’ve managed high levels of stress in the past and what kind of help you might need from them in the future. If you don’t address this, the investor will have a lot of questions and might decide not to pursue you since you lack the business acumen to see the importance of that conversation.
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6. Look for knowledgeable and reputable investors.
Assemble a group of investors who can contribute more than simply cash. Talk to people that have a lot of experience and connections in the same industry as you. I specifically sought individuals who worked with my target demographic and had substantial experience acquiring agencies 1000 times larger than myself when I was raising financing for agency acquisitions. At first, it can seem like all you need is money, but their knowledge will be priceless, and they will be genuine growth partners.
Getting money can be a time-consuming and even difficult process. However, it’s gratifying to know that you may get “shortlisted” in the queue with the correct planning, effective networking, and communication.
Don’t just throw lengthy, intricate pitches at the air. Instead, give your audience and the investors some thought, and then adjust your pitch to suit their requirements and areas of interest. Never forget to give your goals top priority.
Above all, establish solid relationships first, whether through in-person or social media interactions. There will be a significant effect on your company. I am eager to see your insights take off because they have greatly aided me in scaling—not just in terms of money, but also in terms of my business acumen and position in the industry!
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