It is a fact that most businesses require investors. If you have an idea but lack the means and resources to realize it, you are back at square one.
Obtaining investors, on the other hand, is a difficult task; convincing people to spend their hard-earned money on your idea is risky.
We spoke with M-Hotel’s Director of Sales, Mustafa Arafat, who has 14 years of experience in that field and he gave us a few things to think about when looking for investors.
Have a business plan and marketing plan
An idea without a proper plan is useless.
Whether you are starting your business or need to secure startup investor funding to get to the next level, investors want to see a marketing plan demonstrating two things: you know your audience and how to reach them. Investors may want to know about the software you use daily.
“A business plan should attract people and show them why they should invest in your business,” the Marketing Manager said.
Where is your startup going? Investors want to get on board with a startup that becomes the “Next Big Thing” in the future. What do you want your startup to grow into ultimately?
Do you want to service a worldwide market instead of your current local market?
Do you wish to employ 100 team members and have your product in every household? Paint a picture for your potential startup investors of where your company will be in the future and make them optimistic that you will achieve these goals.
Create a network
Arafat said that a small business owner should engage in networking with various people.
Using all your available resources might sound obvious, but people don’t take advantage of every avenue they have.
Contact family members, reach out to your professors, or use social media and online business network platforms.
Strike up conversations with people in the gym or in waiting lines. If you’re looking for investors, you should focus on little else and seize every opportunity available.
He said, “engage yourself in different conferences like B2B Networking. Create a network of people that will support your business.”
Create awareness of your products
These platforms exist to match investors with businesses. “Engage yourself with social media. It is literally in the hands of people,” Arafat said.
Some top platforms include LinkedIn, Google Alerts, Instagram, Facebook and many others.
Whether or not you end up getting investment money on these platforms, you can use them to attract attention and build awareness of your company among the investor community.
He said to, “Engage yourself in the digital world. It is a current trend that is happening right now, bring an effectiveness to your products.”
