2013.07.23
Securing Investment for Start-ups
Here is a great article for entrepreneurs on securing investment dollars for their start-ups from The Biz Fix.
Summary: Entrepreneurs will be more attractive to investors if they are likable, deliver a crisp presentation and demonstrate some degree of traction. (“Traction is important because anyone can have an idea,” says Rishi Prabhu, one of the founders of Bespoke Post. “But to execute on it – that is what really shows that idea will work.”)
10 Tips to a Successful Pitch and Securing Investor Money
Beyond the No. 1 tip for first building a business before seeking investor dollars, Bulluck, Minnihan and Prabhu said budding entrepreneurs must understand all aspects of their business and be prepared to get grilled.
Here are their top 10 tips for presenting a winning pitch:
1. Fully understand the market and where your company fits in it.
2. Have a sound strategy for acquiring customers, and know how much it will cost.
3. Have a good idea of the customer retention rate.
4. Articulate why you need investor dollars.
5. Present a solid plan for how you will spend the money.
6. Assemble a reliable, knowledgeable team with defined roles.
7. Have a solid focus for the business: Less is more.
8. Approach the meeting as a conversation.
9. Attitude matters: Be likable, while exhibiting a strong work ethic.
10. Demonstrate flexibility to change; building a start-up is a fluid process.
Beyond the No. 1 tip for first building a business before seeking investor dollars, Bulluck, Minnihan and Prabhu said budding entrepreneurs must understand all aspects of their business and be prepared to get grilled.
Here are their top 10 tips for presenting a winning pitch:
1. Fully understand the market and where your company fits in it.
2. Have a sound strategy for acquiring customers, and know how much it will cost.
3. Have a good idea of the customer retention rate.
4. Articulate why you need investor dollars.
5. Present a solid plan for how you will spend the money.
6. Assemble a reliable, knowledgeable team with defined roles.
7. Have a solid focus for the business: Less is more.
8. Approach the meeting as a conversation.
9. Attitude matters: Be likable, while exhibiting a strong work ethic.
10. Demonstrate flexibility to change; building a start-up is a fluid process.