5 Steps to Investor Readiness
You have your big idea and you’re ready to share it with the world, but where do you begin to start fundraising? There are millions of articles and blogs on the internet—how do you sort through it all? It can be overwhelming to get your big idea out there, so we pared it down into five simple steps:
BUILD YOUR NETWORK
Fundraising is all about who you know and who knows you. Start setting aside time in your calendar to reach out to trusted friends, family, and colleagues and set up some virtual coffee dates. Spend time reaching out to incubator hubs that specialize in your unique product or story. You never know where a connection might lead, and it’s always great to practice talking about your idea with anyone and everyone!
SOLIDIFY YOUR BRAND
Fundraising requires solid storytelling. Having a solid brand that encapsulates your passion, where you’ve been, and where you’re going is key to getting others excited about your work in the world. A great brand knows its audience, what it has to offer, and uses consistent messaging and inspiring design to communicate its big idea. This branding will be used to create pitch materials that most investors only glance at for about 30 seconds, so you want to be sure your message is clear and your design leaves a lasting impression.
DO YOUR RESEARCH
Investors are interested in what you have to offer, including the impact your idea will have. Make sure you have a clear budget and operations plan, as well as the realistic results you expect to see in the next 2, 5, and 10 years. You also want to make sure you understand your competitors.
KNOW YOUR AUDIENCE
No two investors are alike, and that means no two approaches to sharing your idea will be the same! Once you have your core messaging down to an art, take time to cater your materials to each unique investor or investment hub to speak to what they are looking for.
PRACTICE, PRACTICE, PRACTICE!
Come up with every question you can think of related to your new venture, and practice answering them in 1-2 sentences. Investors want to feel confident that you know what you’re talking about, and they often don’t have much time to get into the nitty gritty. Have a succinct pitch and relevant follow up information.
If you’re interested in building your investor-readiness, reach out to us for a complimentary call to discuss your needs.
