Evans Insurance Services Inc. Blog
In the business world, we all know that investors don’t like their time wasted, and in most cases, you’ll only be given around 10 minutes to present your idea to them. Remember that your goal isn’t to explain your business idea from A to Z, but to gain the interest from the board of investors. Here’s some tips of what you should do to secure funding for your bright idea.
Investors are very careful in deciding whether they should fund you or not, so convince them by telling them your past accomplishments. Make sure they know that their money is in good hands.
The point of making a business is to offer a solution to your potential customers, so tell your investors what problem exists and how will you solve them.
Share about your team
The most important part of a business is its human resource, so spare some time to share why your team is the best team for your idea.
Present a realistic target market
It’s a joke to say that your potential customer is everyone living on earth or in a certain country. Be realistic and have a calculated estimate on who will be your customers.
Point out your competitors
Don’t forget to inform your investors on who will be your competitors, and more importantly, how are you both different and better than them.
Make a revenue model
This model will explain how will you get revenue, what do you offer, how you price that offer, and who is going to pay for it.
Build a financial projection
Make a good forecast of future revenue and expenses of your business. Make sure to explain how you base this forecast and what assumptions do you have.
Explain the needed funding
Elaborate how much money do you need, what will you use it for, and what outcome do you expect from it. Be sure to only ask for what you can handle.
Plan your exit strategy
Tell your investors what you’ll do to your business in the end, whether you will sell it, make it go public, or build a franchise.
List customer acquisition efforts
Tell your investors how will you attract your customers to buy your product. Show them your future promotional efforts and how much will they cost.
Remember that these tips are meant to attract investors, but it will only work if you have a good business idea in the first place. After receiving funding, ensure the safety of your business by insuring it through our company. At Evans Insurance Services, Inc., we aim to provide comprehensive insurance policies that makes your life easier. You can get more information about our products and services by calling our agency at (610) 889-9300. Get your free quote today by CLICKING HERE.