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How To Attract Investors Towards Your Startup

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Investors will invest in your startup business when they are convinced of the fact that your venture will get multiplied in a certain span of time. So, in order to attract them towards your business, all you need to do is to excite them with business case underlying your concept.
However, your ideas are to be addressed to a large gathering, so the ideas had to be good. Therefore, while presenting your thoughts before your investors, make sure you focus on what you intend to do. How you plan to implement your ideas, how will you make money out of it and lastly, why it is only you and your team is one they should bet on.
Here are some concrete tips for the first time entrepreneurs.

1) Do the thing which you say you are going to do

Investors often get turned off by excuses. The most important task lying before you is to convince your investors that you are going to get things done no matter what the situation is. The best way to appear formidable is to actually be formidable. Investors always trust those who feel they can do a lot with little.

2) Try to sell via networking first

Social networking websites warmly welcome the new entrepreneurs for good reasons obviously. Networking allows you to pitch up your startup in a less formal way and in a more organic fashion.

3) Ask for advice, not money

Instead of cold calling the investors to invest them in your business generally come off desperate. Instead, seek out advice from investors you admire. By strategically seeking advice from the investors, you tend to build a relationship with them which increases their interests to invest in your business later on.

4) Be authentic

Avoid being superficial. One way to attract potential investors is you include them in your battle. Upfront them about your journey as for how you made from being nothing to now an entrepreneur. By this, your investors will build trust on you. Approach them with a positive attitude and attend to show your willingness to accept their criticism as well as their suggestions.

5) Pitch a return on investment

When investors trust your company to invest their amount, the ultimate thing is that they expect their profits in return. So, it is important to highlight what will they gain personally after making an investment in your company. It is actually tempting to remain focused on your business and your targets but ultimately your investors wanted to know what is in for them.

6) Do not expect a quick ‘yes’ or ‘no’

An investor may feel enthusiastic about your new venture, but it will take a long time to have an agreement in writing such as a term sheet. This is because investors try to find out how well you are selling ideas and thoughts to others. Be prepared for a series of ‘Maybe’ type responses from the investors for certain period of time. If you do not give us your proposal by then, they are likely to form a positive impression about your existence as an entrepreneur.

7) Avoid following the crowd

As we all know the famous proverb “Fortune favors the bold.” In order to attract the attention of an investor, be sure that your product solves the real problem. There are many investors who just try to reinvent the wheel. So avoid being one of them. Try going for innovative ideas which sell best at the market.

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5 Mistakes You Should Avoid For Your Business

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To succeed, you need to have an in depth knowledge of what to do as well as what not to do. With startups, especially, the margin of error is very limited. Today, we talk about five things you should not do to make sure you’re a successful business!

1. Retargeting Every Visitor 

No matter how great your product is, retargeting every customer to your product page is not an effective marketing strategy. More often than not, this irks customers as it destroys the exclusivity factor. Segment your bounced visitors into different groups by how many pages they’ve viewed, how much time they’ve spent, whether they’ve visited a particular product category etc. and retarget accordingly.

2. A Disastrous Social Media Strategy 

Social media only works if you have a clear plan in mind with a long term plan clearly chalked out. If your plan doesn’t reach the right target audience, then there really isn’t any point in the campaign.

3. There Is Always Competition 

Do not ever think you don’t have competitors. While there may not be an idea that is exactly the same as yours, there are plenty out there that are very similar to yours.  Sometimes your competition isn’t a person or a company but rather a “thing. So keep a really close tab on the people around you and make sure you are always one step ahead of the game.

4. Assuming Your Customers Are Always Loyal 

No customer is always loyal to the product. There is always something better and cheaper out there. To ensure a loyal customer base, create a connect with the regulars and don’t over burden the semi frequent visitors. Play the game the right way and the customers will always stay!

5. Thinking You Have To Do Everything On Your Own

Even if you are just one person who is in charge of everything, you need to keep in mind that you do not have to do everything on your own. Ask for help, ask for ideas. The more you ask, the more you learn and the more you grow!

 

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Tips On How To Diversify Your Business

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“Don’t lay all your eggs in one basket.” The saying is as true as the number of years it has been famous for. It is in fact even more true for small business who are looking at making it big and making it big successfully. This mantra of sorts should be taken even more seriously in the current digital age and is one that should not be ignored.

Today, we take a look at 5 tips that can help you in diversifying your business and growing it to unimaginable heights.

1. Diversify 

Always learn to experiment. If you play it safe, then your business is the only thing that is suffering. You need to be careful to not under sell or undercut your idea/product. Your market research needs to focus on customer demand for new products and services and your cost to manufacture, deliver, and sell them.

2. Expand To New Territories 

Do not stick to just one location. If you have been in the same area for more than a couple of months, then it is time to move on and identify more areas/locations for your business. A franchise has more chances of succeeding in this cut throat world. It also sends out the message that your business is here to stay and that you aren’t afraid of competition.

3. Target New Customers

Most businesses target their sales and marketing efforts to specific customer markets based on demographics like age, gender, locations, likes, interests, activities, and values. In order to succeed as an enterprising business, your goal is to break beyond the obvious range of customers. Once you diversify your target audience, your product immediately gets more attention. This is a constant cycle which usually works in your favour!

4. Offer Integrated Solutions 

The main question you must ask yourself is if you could do more than there already is.  This might be anything: training, cloud services, apps, additional gear, monitoring, servicing; the possibilities are endless. The beauty of the digital age is that everything is available and is yours for the taking. So reach out, grab it and make the world your oyster!

5. Suss Out The Competition 

It is always important to figure out what your competition is up to. Either you are in line with their progress or one step ahead. It is preferable if you’re one step ahead because then that gives you the platform for success.

With these steps, expanding your business no longer remains a dream but becomes a very successful and competitive reality!

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Tips On How To Make Your Meetings More Successful

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More often than not, business meetings tend to drag on for far longer than necessary and usually end with no real conclusion. Today, we give you tips on how to make your meetings more successful and worth the while!

1. Add Accountability

Adding accountability helps increase responsibility as the onus of the problem falls on the employee. At the end of the meeting, make sure that a recap happens and individual assignments are given if necessary. This helps increase productivity.

2. Shorter The Meeting, The Better

A golden thumb rule? Always, always keep the meeting short. In fact, shorter the better. Meetings scheduled for a long period of time tend to scare the members and this is not a good thing. If more things need to be discussed during the meeting, then that can be added for a follow up.

3. Always Know The Reason For The Meeting 

A meeting without a purpose is never a fruitful meeting. In fact, make sure that EVERYONE knows the reason for the meeting.  Weekly updates, quarterly sales meetings, and annual board meetings all have a purpose. Make sure everyone knows why he/she is there and what is expected of him/her at the meeting.

4. Take Down The Walls 

The walls keep the thoughts out. A lot of times meetings for problem solving are rigid and coordinated. Find someone who can do the minute keeping and allow your team to hash out the details. The old fashioned way always works – sit in a room and talk to each other! This increases communication and brings down the walls.

5. Make Every Stand Up For The Meeting 

According to recent studies, it has been proven that if you have everyone standing for a meeting, the meeting becomes more effective. While it is possible that not everyone likes to stand for a long time, it is an extremely effective in the long run.

 

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