As Acceler8me offers consulting services for commercial funding, we’ve decided to put together a handy guide on how to become ‘investment ready’. Investors will hear about many potential investments during their time, so why should they give you the time of day? You need to make them see that YOU and your business ideas are investable! So…how do you get there? Just check out these 9 tips that will help you become investment ready;
1) Make Your Business Commercial
If your business doesn’t look professional then no-one will take you seriously. Try and view your business from the investors and clients eyes – Would you use your service? Have an appealing website, up-to-date social media following and ensure that you have researched any potential competitors, what makes you different from them?
2) Have a strong to-the-point business plan
Don’t fill your business plan with unnecessary jargon. Keep it simple, easy to read and straight to the point. Use bullet points and headlines with descriptive paragraphs, not only will this help the investor follow your plans in a step-by-step format but, but it will display your efficiency, professionalism and determination.
3) Have numbers that are realistic and achievable
At this stage in the process, you may not have a clear idea of how well your business will do but investors will see right through any unrealistic targets that you set, it is best to stay honest, take it step by step and take it from there. Work out what you would have to achieve with the funding that you would get if granted in order for the investors to see a profit.
4) Have a plan on how to scale the business
Be prepared for your business to perform well, How will you cope and perform under an increased or expanding workload? How will you maintain a good level of performance?
5) Know your target market
Who will benefit the most from your product or service? Plan how you’re going to sell to them. Visualize it as if you are the client – What would make you want to use a service or buy the product? Some great ways to perfect this is by conducting consumer research, you can do this by; producing and sending out online surveys, engage in focus groups, or do some public product testing. These will give you some target audience reviews and market feedback.
6) Have sales on the board
Action speaks louder than words, nothing will prove more that your product will sell than already having customers or clients. This shows that your business has interest, which can only grow to a wider audience. If there is a gap in the market that you are addressing then this is a great way to prove that the world needs your business.
Additionally, any feedback that you gain from your research is an opportunity to make any amendments to ensure more sales, before approaching investors.
7) Have a proof of concept
How will your service work? You will need to realise which certain methods work in order to demonstrate its feasibility. Investors want to see that your idea has worked in the market, or will work. Is what you are building actually possible. The further down the line you are the more relaxed investors will be.
8) Have a good advisory board
Ensure you have a group of individuals who have helped advise you on certain business issues you aren’t sure of such as; business issues including marketing, sales, finances etc. It’s great to have a good support network that you trust. Always surround yourself by people who know more than you. It is even better if these people can also bring in sales….
9) Have the right attitude
If your mental attitude is anything but positive when it comes to achieving your goals, and becoming an entrepreneur, then you will fail. You need to always believe in yourself and your business, even when times are hard and you are not seeing results straight away. Investors invest in the individual and not just the business. Stay determined, be passionate and strive for success at all times.
All these points are just a brief guideline into much detailed advice that we, at Acceler8e me, can help you with.
Get in touch with a member of the team today!