Most entrepreneurs are aware that raising funding requires a major effort. Understanding the basics of raising funding is therefore essential for success. In this blog we give you a number of steps that you should always take in the basics.
Preparation is one of the most important things you should do before you go to investors. Make sure you have everything in your business in order. Set up a strong team with different qualities. Do research on your competitors, go-to-market, target group and business model. Make a clear plan on how you’re going to conquer the market. Note that when you talk to investors, they start asking difficult and substantive questions. Be prepared and make sure you know all the relevant information.
Research the different investment opportunities
There are several ways to raise funding. This is possible, for example, with the FFF (family, friends, fools), crowdfunding, VCs and informal investors. Read more about what these forms of financing entail. Some forms of financing will suit you and some do not. Do proper research into which financing method suits you best.
The pitch deck
We have already told you a lot about the need for the pitch deck and how you can put together an effective pitch. Make sure you have a clean and attractive pitch and that all-important information is incorporated. 15 to 20 slides must be sufficient for this. Tell about your problem, solution, go-to-market, business model, competition and financial plan. Armed with this information, potential investors should be convinced of your proposition.
A large network can help you in getting financing or bringing in new customers. Find people who can help you and help others. This will give you a good reputation, which you can help further.
Even if you do all of this well, this does not have to be a guarantee for securing financing. But if you know the basic steps and you are well prepared, it will be more likely.
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