Finding an investor might sound simple, but it isn’t. There are a series of different strategies and the chances are you’ll need to put them all into action. Just remember that if your business idea is good, they’ll need you as much as you need them. Pitch your business well and you’ll be in a commanding position.
Know Your Plan
Income: Exceeds $100,000
Net worth: Excess of $1,000,000
Experience: Previous entrepreneurial success
Contact: Through referrals
Of course, not all investors will fit this bill. But even if they don’t, they may act like they do. Get to know your investor and you’ll have a greater chance of connecting in a way that may increase your chances of funding.
Finding an Investor Locally
Once you know what to look for the next question is where to look for them, with the best place being locally. Most startup investors want to have an active approach to your business and this means meeting to discuss your new business funding. You can’t do this if you live across the other side of the country, and despite the internet, investors want to have the option of talking face to face.
Talk to friends and work colleges to find out if they have any contacts. Finding an investor is far easier when you have a mutual connection. Startup investors won’t hang around on street corners or come up to you, so be ready to ask everyone and anyone you know to find what you need.
Finding an Investor Online
If your network of friends doesn’t help, don’t worry, there’s always the internet. Here you can find an investor on forums or a specialized website. Many will even offer small business funding. Most investors don’t work alone and you’ll need to talk to an investment firm first to find the right investor for your business. This may cost you more, but you know that it’ll be done right. Here you can find different styles of funding including angel investors. You may also find yourself pitching your business in front of more than one investor. If you have this opportunity, make sure to work on a professional investment pitch and stay confident.
Finding an investor can feel like tiring work, but without one your company can’t progress. Despite this, don’t rush into the first deal that comes your way, if one investor is interested, there will be others around the next corner. Be confident in your ability and take the best deal available.
For more information on finding an investor contact the Winflow Financial Group.
At Winflow Financial Group, our consultants help entrepreneurs with our experience. Tell us about your business or investment today and find out how we can help your business save money and grow.