You’ve done it! You’ve got a good idea, you’ve done your research, you’ve established your potential market niche…now it’s time to look for investors.
Finding and convincing investors to take an interest in your fledgling company isn’t an easy task, and one that should be done carefully. You want to make a good impression and sell the creativity of your idea, but where to start? You’ve got the look down, the status symbols down, but what else are you missing? Here’s a few things to focus on that are not just material.
Practice Your Pitch
What you’re going to say to your investors is everything. A picture may be worth a thousand words, but the words to use to convey the excitement and innovation of your idea will matter very much.
You’re probably familiar with the concept of an elevator speech. These are especially important when it comes to pitching to your investors. Techniques and structure may vary, but the basic idea is that you’ve condensed your business idea down to something that can be said in 30 seconds or less—approximately an elevator-ride long. Keeping your pitch short and to the point is a good idea because people are busy and on top of that, have limited attention spans. So keep your explanation brief and let your audience ask questions as they may.
Meet In a Professional Setting
But appearances will matter too, namely, your surroundings. The space you choose for your meeting can influence the first impression you make.
But this can be tricky. It’s likely that at this stage of the game you aren’t housed and don’t have access to a professional office space. Consider setting up shop in a virtual office. Virtual offices will not only provide you with a physical address and a private office space, but many also have communal meeting rooms.
The perks that come with a virtual office space can go a long way towards making you appear more professional and successful, which can really help you make a good first impression.
Provide Timely Data
One thing you’ll also want to make sure that you’re prepared for when you meet with investors is data. Investors are concerned about the value that your idea will bring to them. While a good pitch and a winning smile will take you a long way, your words must be backed up with lots of facts.
One helpful tip is to set up a data room for your investors beforehand. A data room will allow potential investors to access all the relevant information quickly and efficiently. This will also help to show that you’re organized, thorough, and conscientious of their needs and time.
Finding potential investors and setting up a meeting with them can be nerve-wracking, but there are a few strategies to help you prepare. Things like hosting your meeting in a professional space and perfecting your investor pitch can help you on your way to success.
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