To lead in the business, A good bunch of investors can play a great role. Carl Kruse says that knowing what to consider while selecting investors and being able to attract the right type of investors are essential skills for established and growing businessmen.
2. Get the Most Out of Networking
Networking is the best way for
entrepreneurs to pitch their startup in a
less formal and organic way. If you are
building a great business, networking
within the local startup and investing
community can be the best way to meet
and find the right type of investors.
3. Find the Right Co-Founder
When you find investors, you are not only selling them your business in terms
of products and services, you are selling them on your team. Opting for the
right leadership team for your small business is an important process and
having the wrong co-founders can be more dangerous for your business than
having no co-founder at all.
4. Be Practical, Get Real Paying Customers
You need investment to attract
customers, but you need customers to
acquire money. It is always worth
making an effort to get customers prior
to approach an investor, instead of
seeking funds first and customers
second. It is advised to create a plan to
acquire customers first that doesn't
need a very huge investment.
5. Get a Better ROI
Though investors may start believing in
your business, the purpose for their
investment is to make money. Therefore,
it is important to highlight what they will
actually gain from investing in your
startup.
6. Take Benefit of the Online Market
Networking is important, but your location should not be you're the
restricting factor when it comes to securing investment. If your
company has best-in-class metrics for your industry, you will be
definitely able to double your money. Post your business's best
metrics and find investors on the platform related to your industry.
7. Pick the Right Investor
In order to attract attention of the
right investor, make sure your product
solves real problems. As a lot of
entrepreneurs only attempt to
reinvent the wheel, therefore, it is
advised to highlight the qualities of
your product to attract the real
investor. Doing so will get users and
revenue.