Have you already started raising capital for your summer ventures? If not, you are falling behind. There is no better time than now to plan out your summer networking to continue to bring in investors all summer long. Click through to see how…
You can get a lot of great advice by interviewing CEO’s and other successful entrepreneurs. A successful entrepreneur, Eric Wagner, has done just that for us. Check out the great tips from his interview in our most recent post. Do you have any advice to offer from an investors point of view on what is expected when being approached to provide venture capital?
When you need money for your business (and let’s face it – all businesses need money) you need to think outside of the box if you hope to surpass your fundraising goals. The traditional means of starting or growing a business is to put together a solid business plan that you can then show to loan officers. This is done in the hopes that your idea will urge them to give you the resources you need to enact your plan of action. That is the usual way of doing things; but now it’s time to go above and beyond with an entirely new way of thinking.
Raising money for anything can be difficult especially when you don’t have experience. Accepting that fundraising is actually just sales is the very first step to making this process much more simple. All the steps in sales from qualifying your buyers/investors to building a solid relationship will still need to be done. It is always important to create urgency by being competitive and showing your ambition. This will not only help bring in an investor but seal the deal as well. I mean after all, the first step in qualifying is providing an answer this age old question, “Why buy?”. Now you tell me, why should I buy into your business?
If you have a really good idea for a new business to start in 2014, but you don’t quite have the capital to realize that dream at this time, it’s time to raise the fundraising flag. You need to let people with deep pockets know that your business idea is sound and ripe for investment. Who you turn to, how you ask for the money and how much you actually ask for could mean the difference between operating in lavish luxury and working in your mother’s basement surviving on Hot Pockets and Mountain Dew.