So you’re ready to take your business to the next level. Exciting times! Now all you need is the funds. We know from working with startups and scale-ups that seeking investment can feel overwhelming. You’re not alone.
The good news is, you don’t need all the answers. So before you worry about what to do, who to speak to, or how to approach investors confidently, let’s take a step back.
The first question you should ask yourself is, am I prepared?
To help you answer that question and navigate the minefield that is fundraising, here are three things to consider.
Your strategy is the foundation of your fundraising process.
How well do you understand your market position and the problem you solve? Can you prove that there is demand? What tactics will you use to reach those people? How will your product evolve? Is there a roadmap?
These are the questions you’ll be expected to answer. All of which you can cover as part of a well-thought-out pitch deck. With a firm grip on your strategy, the next steps become much easier.
Money talks. Your financial plan (based on your strategy) is one of the most powerful assets you have.
If you’ve created a valuation, be ready to show how you got there. It makes you look good, and shows investors that you’ve thought about the uncertain aspects of your business.
Investors ultimately want to know whether they will make or lose money with your business – so your financial plan should be robust, convincing, and crystal clear.
It’s hard to invest in something that doesn’t exist. Or something that exists but doesn’t work yet. If you have the strategy, a financial plan, AND you can prove that it’s working, your business becomes an opportunity, not a gamble.
To do this, you need an MVP. Your Minimum Viable Product should be a basic, launchable version of your service – with enough must-have features to generate sales and prove your value proposition.
Now you can talk the talk and walk the walk.
You’re almost ready to select and approach investors.
If you’re unsure about any of the above, don’t worry! We can support you at every stage of your fundraising journey.
Whether it’s assembling your pitch deck, creating a financial plan, or building a solid, cost-effective MVP.
Ready to give investors something to love?Get in touch
Still not sure? Why not listen to our latest episode of ZealTalk, where we were joined by Sarah Hex from Mercia Asset Management, who gave us the inside line on all things funding!