When push comes to shove the only thing which is going to catapult a business into the big leagues is a worthy sum of capitol, and unless you're the child of an oil baron the only way of getting your hands on this sort of cash is through investors who would either be a business angel (BA) or a venture capitalist (VC) i.e. someone who has already made it in business and wants to continue growing. With that in mind in this short article we will be looking at what you can do to improve your chances of getting funding for your growing business.
1) Be punctual - having been in business for a long time venture capitalists and business angles do not take kindly at all to being made to wait, even if it's just for five minutes, and if you are late call ahead and hope they are in a good mood. Remember though that this will not just affect the chances of you receiving investment but it will also affect the terms of your investment. VCs and BAs are after a stake in your company and the longer they are kept waiting the larger the stake of your company they will expect.
2) Turn off your cell - besides it being very rude to even have your phone interrupt the meeting, a lot of potential investors are (for want of a better word) narcissistic, which means they want all of your attention when they are speaking.
3) Prepare answers before hand - There are questions which all good investors will ask you. The questions they ask you will cover a wide range of things from profit margins to the businesses market position up to five years in the future. If you are struggling to determine what you may be asked, put yourself in the investor's shoes, what would you ask someone if they wanted you to invest in their company?
4) Commit yourself to the cause - There is nothing an investors likes more than seeing someone who is passionate about their business, you need to make sure this comes across during your meeting. Talk about the niche you're in with enthusiasm e.g. if you have ice cream company tell them how the new titanium scoops will revolutionize the industry.
So there you have it four ways in which you can bag an investment from a venture capitalist or business angel.
More detailed information and useful advice can be found at http://www.funded.com/
Created by Mark Favre, it offers expertise and assistance with developing and funding your concept, including a private forum for queries and discussions. If you need access to investors and funding providers, please do check our website.
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