Ideas are dime a dozen. And never has it been easier to turn your ideas into breathing businesses. It’s the age of startups alright. Yet, getting your idea noticed is what’s getting harder. Consider this, you have a life-changing product or service in mind and much of your market research is through. Your product is validated but is yet to spread its wings and take flight. You still haven’t overcome the most crucial step – attracting funds for your ideas.
So there are still a lot of perks in this age of startups. Finding investors is easy but do not confuse that with attracting investment. What you need is an ironclad strategy and smart positioning to woo investors. Here are 3 tips to raise the greens for your startup.
A clear, well researched business plan with a generous amount of forecasting, data and analysis is what you need to be armed with. Concentrate on organizing your concept, business model, ideas, research and financing in one succinct business plan.
Put emphasis on the research about your industry and niche. What are the opportunities? What competition and barriers of entries could you face? Incorporate case studies about your customers and the problems they face and how your product or service will help solve them.
There are various types of investments that you can bring in for your project. Learn what suits your business model best. Each business is different and so it’s funding needs. This needs to be kept in mind when you are pitching investors.
An angel investor will have a way different outlook than a venture capitalist. If you go for a bank loan, the requirements will still vary. You need to be prepared to outdo these challenges and adapt accordingly. However, it is also important to analyze what type of funding will be the best for your startup in the long as well as short term.
Positioning and playing smart is a foundation of getting your idea really out there. There are dozens of product and services concept that sound great on paper and may as well have been revolutionary yet the makers aren’t able to present it well. It makes all the difference.
Don’t make the mistake of envisioning your great idea or concept in action but failing to show investors the same. The best you could do at this stage is engaging a professional consultation service to identify your startup’s most valuable proposition and presenting it in a way that instantly puts it in a positive spotlight. Make it irresistible to be able to walk away victorious.
Samaven has helped a number of startups start right on their journey. From formulating a solid business plan to providing investment and funding advice, we do it all. Get in touch to know how we could help with your funding woes.