Investment –There are actually very many ways one could raise capital for their business either for expansion or to start from the scratch.
Naturally, it is always easier to attract investors into a business if it is already operational than when it is still just an idea on paper.
Before anybody would think of pumping money into a business, he or she will have to first think about how they will get back their ROI Return on Investment. After all who would not?
Now, getting an investor to fund a business cam be a herculean task as it often involves proving the feasibility of an idea and willingness to share the equity of the company or business. This simply means allowing a business to be run by many other persons apart from yourself.
In economy, investors are viewed as high net worth individuals who help you turn your idea into a revenue-generating project by pumping capital that could see activities that were not well utilized turned into money making machines.
So what will attract such investors into joining a business?
First, track record matters. While pitching for an investment, always ensure that you showcase your great past achievements. Highlight your expertise and years of experience. Present yourself as an answer and not a problem.
Secondly, demonstrate market demand because investors want to be certain that they will get a return on investment ROI. As an entrepreneur, you need to pitch with your facts as evidence. Do your market research well and lay down how this will be a business for profits.
Thirdly, have a clear and detailed roadmap. Have your facts right to precision. E.g your ideal customer, how you plan to reach them, long and short-term goals, sourcing of inventory, talent management, and projection of income.
Also as an entrepreneur demonstrate how you are ready to face competition in the market. This one is a key area that any investor will want to get clarity.
Last but not least, learn to build trust, and this can only be established through open and an honest communication. Reveal any loopholes that may arise in business. Be honest with yourself. Do not over promise investors because it won’t take long before they see the phony in you.
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