How do you improve the odds of getting your startup funded? by @R44D
Answer by Raad Ahmed:
Investors want to know that they are entering a good situation. So, how do you make investors feel more secure with funding your startup? You need to establish a solid business relationship and present your business in a way that showcases your ability, organization, and dedication.
Here are a few tips:
- Prove that you are a planner. Business climates can be temperamental. If you really want to catch the eye of a solid investor, then you need to prove to them that you have planned for the future. You can do this by clearly defining how you plan to navigate problems, negotiate future financial changes, and your goals and how you will achieve them.
- Showcase your knowledge. Investors want to know that you know what you are doing. Even if you are new to business, you can still have skills and experience that are relevant to your business. Perhaps you have worked as a manager before or even studied business in college—these things matter and its up to you to express your knowledge when you interact with potential investors.
- Have a solid team. You and your co-founds should be able to work together effectively. Investors need to see that you have clearly defined responsibilities for each member and that you can work together to achieve a common goal. If you have a personal relationship with any of your members, it’s a good idea to avoid basing any decisions off of emotional connection, but instead rely on common business practices to guide your policies and overall decision-making.
Make your investors feel as confident as possible my ensuring that your business is properly organized. If you aren’t sure where to begin, you should consult a startup attorney.can help. We can connect you with a skilled business attorney that can help you get your business organized and offer guidance for how you can better attract investors. Feel free to look through our website and contact us for a consultation.