For every entrepreneur, the dream is to take what was once a tiny seed of an idea and grow it into something massive. But this usually requires some sort of investment every step of the way. When you first started out, you most definitely required some form of funding, whether that was personal savings or a bank loan or whatever.
Well, the same rule applies when it comes to growing your business. You may have grown quicker than you thought you would, and seen your enterprise become a success, but to take your company to the next level usually requires further investment.
Luckily, there are some things you can do that will impress investors, grab their attention and encourage them to hand you the funds needed to fulfill your expansion ambitions. And this is how:
First Impressions Count For Everything
When you go in for a job interview, the potential employer has painted a picture of you in the first 8 seconds. The same goes for investors. They may not have made up their mind at that point, but they have cast judgment on you, and that will go a long way in swaying their decision. That is why it is so important that you make yourself look as professional and successful as possible. Buy a new suit and briefcase. Turn up at their offices in a vehicle that oozes success subtly by going with a private car hire company you can trust. Be polite and charming, know how to shake a hand and take a real interest in what everyone you meet has to say, and we mean everyone. An investor will have a personal assistant whose judgment they trust implicitly, so get them on your side too.
Get To The Point With Your Margins
Whether you care to believe this or not, an investor is not going to give you their money because they believe in your vision. They are going to give you their money based on the margins you can present to them. That means you need to have the past that they can trust and a future that they can believe. They will sniff out any bullshit faster than you know, so get to the point quickly and positively. They will invest if they are going to make money out of their investment. They aren’t gamblers, they are investors.
Sell Them The Future
Investors know that they are usually in something for the long-haul, so it is important that you can assure them some longevity. This is achieved by showing them how stable the marketplace is, as well as showing them that your company is best placed to see huge growth over the coming years. An investor is going to be impressed by two major things here; potential growth into new markets and potential growth of your revenue stream. That’s all. So focus on these areas. This is where your business model comes in. Investors like details, so anything wooly needs to go. So detail everything, from your growth up this moment in time to your strategy to take hold of the marketplace within 5-7 years.