Nine Tips to Convince an Investor to Fund Your Startup (Even When You Have No Experience) – Start Online Business

Curated by WorkingFromHome

This article is an excerpt from the original article found in the Read More link – please follow for full article.

Without any previous business experience to back you up, it can be difficult to convince an investor to fund your startup. What’s one tip you’d give first-time founders to get the interest of a potential investor, and why?

photo credit: August de Richelieu / Pexels

These answers are provided by Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most successful young entrepreneurs. YEC members represent nearly every industry, generate billions of dollars in revenue each year, and have created tens of thousands of jobs. Learn more at yec.co.

1. Sell Your Strengths

We all have strengths and we all have weaknesses. While someone’s weaknesses may include a lack of entrepreneurial experience, they can nonetheless successfully raise capital if they can persuade investors that they have the wherewithal to execute upon a winning business plan. Sell your idea, sell your team and sell yourself. 

Adam Mendler, The Veloz Group

2. Be Transparent

Investors want to understand what risks there might be to the business as well as what the true financials and key metrics are. Concealing truths that detract from the forward momentum will backfire. Being transparent with mistakes and failures builds a trusting relationship and demonstrates self- and situational awareness as well as humility.

Brian Pallas, Opportunity Network

3. Offer a Sample Product or Data

Build a prototype or show attractive customer acquisition costs through a marketing funnel. Having a simple version of what you’re looking to build will make you a very serious entrepreneur in the investor’s eyes. If you’re able to run a marketing test to prove viability of the product, you’re showing a high potential ROI.

Michael Fellows, Patriot Crew

photo credit: RISE / Flickr

4. Play to Their Passions

Investors are human, and although metrics like traction or sales matter when it comes to raising funds, the passion of the investor is a big factor. Your vision can excite your investor.

Then you can ask those passionate investors to help introduce you to other investors who would most likely invest in your startup. Investors know each other, and friends convince better.

Samuel Thimothy, OneIMS

5. Search at Your Level

Find an investor who is interested in your niche and someone who is focused on funding small businesses like yours. Smaller investors may be more likely to take the risk of financing a small startup. You’ll also have a bigger chance of a partnership because you are after someone with a common denominator.

Daisy Jing, Banish

6. Keep It Short

Don’t spend a lot of time fluffing up your presentation with high-brow material. Think of your pitch as a time when you have just a minute or two to hook your investor or lose them altogether. Try to come up with as short of a presentation as you can and provide enough information to interest them. Then leave it to the investor to ask questions and then give them in-depth information.  

Blair Williams, MemberPress

7. Have a Proof of Concept

The best way to convince an investor to back you up is to create a compelling proof of concept. People are not going to invest in your idea j

For the Full Article
Please Continue Reading Here: Nine Tips to Convince an Investor to Fund Your Startup (Even When You Have No Experience)

Commentary:
Quite interesting news and links can be found on the full article.

You May Also Like…

Does Your Car’s Color Affect Your Chances of Getting into an Accident? – Start Online Business

Does Your Car’s Color Affect Your Chances of Getting into an Accident? – Start Online Business

There is no information about whether your car’s color will put you at a higher risk of getting into car accidents. What we do know, however, is that some color cars get into more accidents than others. Kelley Blue Book says that silver is the most popular car color. Yet, despite their prevalence on the roadway, silver cars do not account for the majority of car accidents. In fact, black cars are more likely to get into collisions than any other color car, per Reader’s Digest. photo credit: Dominika Kwiatkowska / PexelsContinue reading to learn more about how car colors factor into collisions. What Is the Leading Cause of Traffic Accidents? Human error accounts for a majority of all auto accidents, according to the National Highway Traffic Safety Administration (NHTSA). About 94 percent of collisions are caused by things like speeding, distracted driving, and intoxication. Other leading causes include things…

How Much is Bad IT Architecture Costing You? – Start Online Business

How Much is Bad IT Architecture Costing You? – Start Online Business

For years businesses have dealt with IT architecture that’s unable to change.  This was due largely to the layer upon layer of technology that’s built up over the years.  Technology added, typically, to solve tactical problems, such as the need for an ERP system, a new database for business intelligence, or just to get the latest and greatest technology in house. However, the addition of each layer of technology caused more complexity.  More complexity drove more cost, as well as the inability to change the IT infrastructure to adapt to changing business needs.  In other words, we’ve created bad architecture that is clearly costing us a great deal of money, as well as lost business opportunities. Cloud computing  provides us with an opportunity to get some aspects of the architecture in a healthier state.  However, like other technology, care must be taken to make sure that you leverage cloud-based platforms…

Working From Home TV …

8 Best Video Chat Software for Business in 2021 (w/ Free Options) – Website Tips

8 Best Video Chat Software for Business in 2021 (w/ Free Options) – Website Tips

Are you looking for the best video chat software for your business? With remote working more common, many businesses need a way to communicate with their teams and clients over video. There are a ton of great video chat solutions in the market, but how do you pick the right software for your business? In this article, we’ll share the best video chat software for small businesses and highlight their different features, so you can choose the best video chat software to fit your needs. What Kind of Video Chat Software is Right for You? Video chat software and video calling apps are synonymous with applications like FaceTime, Google Duo, WhatsApp, Viber, and the Facebook Messenger. However, you may require more professional tools and functionality to support your business, instead of simply communicating with friends and family. The right video chat software will have a variety of features to make…

Tips to enhance your own website…

8 Best Video Chat Software for Business in 2021 (w/ Free Options) – Website Tips

8 Best Video Chat Software for Business in 2021 (w/ Free Options) – Website Tips

Are you looking for the best video chat software for your business? With remote working more common, many businesses need a way to communicate with their teams and clients over video. There are a ton of great video chat solutions in the market, but how do you pick the right software for your business? In this article, we’ll share the best video chat software for small businesses and highlight their different features, so you can choose the best video chat software to fit your needs. What Kind of Video Chat Software is Right for You? Video chat software and video calling apps are synonymous with applications like FaceTime, Google Duo, WhatsApp, Viber, and the Facebook Messenger. However, you may require more professional tools and functionality to support your business, instead of simply communicating with friends and family. The right video chat software will have a variety of features to make…

How to Add FAQ Schema in WordPress (3 Methods) – Website Tips

How to Add FAQ Schema in WordPress (3 Methods) – Website Tips

Do you want to add FAQ schema in WordPress? Adding FAQ schema can help boost your SEO ranking and organic click-through rate by making your frequently asked questions appear directly in Google’s search results. In this article, we’ll show you how to add FAQ schema in WordPress and improve your rankings, step by step. What is FAQ Schema? FAQ schema is a smart markup code also known as structured data that you can add to your website pages to help Google identify an FAQ section. If you add FAQ schema, then Google may choose to reward you with an enhanced search result listing that also shows FAQs directly below your website. This increased visibility on Google means more traffic to your website. It also makes your site appear to be an authority on the subject. Plus, FAQ schema makes your content more helpful to users who prefer the question-and-answer approach.…

How to Make a Link in Bio Page in WordPress (Linktree Alternative) – Website Tips

How to Make a Link in Bio Page in WordPress (Linktree Alternative) – Website Tips

Do you want to make a link in bio page in WordPress? A link in bio page is a popular way to send traffic from social media to multiple pages on your website. It’s commonly used by Instagram influencers and other social media celebrities. In this article, we’ll show you how to easily make a link in bio page in WordPress. Why Create a Link in Bio Page in WordPress? A link in bio page lets you send social media traffic to specific pages on your WordPress website. Social media platforms like Instagram, Twitter, and Facebook only allow a single link in your profile. But, instead of sending users to a single page, you can create a link in bio page that lets you send traffic to multiple pages. There are services like LinkTree, ContactInBio, Bio.FM, and more that help you create link in bio pages. By using a WordPress…

0 Comments

Submit a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.