All startups require funds to startup. The only means then becomes looking for investors. Here are 4 mantras to attract the right kind of investor for your startup!
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Networking essentially means meeting people from different walks of life who interest you. This networking even has the power to attract investors. The connections that you make become very important down the line because the more networking you do the chances of meeting a suitable investor increases. If you are asking yourself about where to start? There are several networking events organised to make people with similar goals, meet. These events even provide a platform for you to meet more experienced and established entrepreneurs who maybe able to give you some interesting advice. Networking allows you to pitch your ideas to the investors in an informal setting making it seem more natural. After bringing up your startup in the conversation, interested investors would naturally continue it where you can casually pitch your startup.
Use social media
Linkedin is “the” platform to connect with other entrepreneurs and investors. It is the perfect platform for investors to find the right startup and the startups to make their idea look presentable. The benefit of this is you have the liberty to edit information as you like. A strong social media presence also makes your startup stand out. Twitter and Facebook are two other platforms that can be used to spread news related to your startup and develop brand popularity.
Practice your pitch
It is just essential for your pitch to be good in order to attract any investor. However the question then is what would make your pitch stand out? Practice. Practice makes a man perfect might sound clichéd, but it is the mantra to success. Practising your pitch doesn’t mean making it sound robotic. It is more important to know the facts by heart and then conveying them in the most organic way possible. And this can only come with time. While conveying your business model to the investor is important, what the investor really wants to know is his gain. So it is very important to pitch your ideas such that the gain to the investor seems very impressive. Body language while delivering you pitch is another factor that determines your convincing power. A lousy body language gives out the wrong message where as an upright posture gives out an image of a go getter. As a rule of thumb, your pitch should be about a minute long including the main ideals of your startup.
The best way to persuade someone is by showing results. Having solid proof to support the investor’s potential gains will definitely increase his willingness to invest. Often, entrepreneurs dip into their savings for a sum total of startup capital before turning to investors to smooth the progress of growth. If possible, it is worth acquiring a few customers first to estimate an average consumer reaction.