Do you want to expand your business, but lack the funds to do so? Perhaps you have thought about raising venture capital… We’ve all watched Dragon’s Den and whilst those fire-breathing business moguls have a stack of cash on their side table, they don’t always give it up easily… So how do you ensure you score a slice of the pie?
Here are my top tips for ensuring your business is investment ready…
- Sell yourself – People will invest in people, so don’t be shy about showing your passion and enthusiasm for your product or business. Your story should be part of your pitch, potential investors will want to know how your business has developed to the point you are at now.
- Know your competition – You will need to convince any potential investors that you have a unique selling point, and you can only do this by knowing how you differ from your competition. Garner some testimonials from key third parties who are happy to endorse your product and show how it fills a gap in the market.
- This little piggy went to market – Know your market place; define who are you going to sell your product/services to, and where are you going to sell your products/services.
- Focus on the figures – It sounds obvious but the numbers are important. You’ve all seen the episodes of Dragon’s Den where the passion and commitment is there, the investors are ready and then the numbers just don’t add up. Do your sums, do your forecasts, know your margins and remember the devil is in the detail!
- Know who’s on your team – From production to marketing to distribution channels and everything in between. It’s important to show investors that you have the right people in the right places to get your product to market.
- Be realistic – Don’t over value your business, be realistic about the funds you need and the equity you’re prepared to give away in return.
I have extensive private and wholesale investor connections that could invest in your company or your next project, contact me for more information on how I can help prepare your business for investment.