Investors play a major role in business, especially if you are just starting up or looking to pivot into the next stage of expansion/growth.
As a business owner, you have to put in effort to make potential investors believe, not only in you, but also in your business. You have to prove to them that your business has the capacity to yield great results and interest.
Investors do not only provide capital to your business, they also help in realizing ideas and are a good source of marketing. Below are five bespoke ideas on how to attract investors to your business.
- Show proof. Anybody interested in your business, including potential investors, would need you to prove that your business is worth investing in. They will need to see, if possible, already existing customers, customer satisfaction, and the potential for the business to stand the test of time. So, before you approach potential investors, make huge plans to get customers first.
- Communicate clearly. Cultivate good communication skills and increase your chances of getting investors. Every person you meet is a potential investor, so communicate with people properly. Learn to build relationships and in the process, you can be a protégé to a potential investor . You can receive valuable advice, amongst other benefits, and that way you stand a chance to get great willingness to invest in your business instead of cold calling and begging.
- Be transparent and honest. These key virtues in business cannot be overemphasized. No serious businessman or business woman would want to associate with a fraudster or a trick star, so be tough – yet honest and transparent. People often think that they impress investors with high figures, but that is far from the truth. Don’t exaggerate; let potential investors know the truth about the status of your business and fill them in on the truth about what they need to know. That way, you stand a better chance of investors willing to invest in your business.
- Network. It is at this point you create a different mindset. You don’t look for money; you look for business. Get a plan. Instead of moving about, you could make yourself visible. Join a relevant group and become an active participant. Know that your network is people you know and everyone will not jump at becoming investors, but it increases your chances.
- Be presentable. If you look hungry, investors will be far from you. Look successful and you will attract what you are seeking. Look sharp, stay positive, and be friendly.
Remember don’t go around looking for money, but look for business.