Several aspiring entrepreneurs & small business keep asking us this Question – How am I able to obtain funds from a Financial Institution or Venture Capitalist or Angel Broker? What is needed? Is the business plan sufficient to gain the attention? How am I going to attract the Investors? How can I obtain funds for my start-up?
Gathering all these queries we went deeper into the reality of the key to obtain funds & came up with facts –
Investors require real ideas with a great team – A business plan is not just sufficient to hit the rod. The business idea on which you are planning to obtain funds should be showing some promising real added value & to achieve it one needs to have a team that has the core expertise on it.
Business Idea should be tested- Is your business idea achieved any clients? Can one play with the product or try out the service on a trial run? Has the idea created any interest in the target market? This is probably what more of the Investors also look for when you present a plan.
Management of Funds – This is often not been properly & confidently pitched by entrepreneurs. One should be able to showcase how the funds that they plan to obtain from the VC can be spent in the next 5 years. How was the capital investment of the entrepreneur used & in which areas?
Marketing Strategies – There is also closely seen by the VC.What marketing strategies are planned to be used for gaining the sales figures as forecasted in the plan. What are the alternate plans if they do not work out? Do we have a exit plan?
I have come up with some more information while you keep noting these above points mentioned by us. SMC is a small business expert providing marketing consulting services to start-ups who plan to start a new business. They can be consulted for any further information.
Gathering all these queries we went deeper into the reality of the key to obtain funds & came up with facts –
Investors require real ideas with a great team – A business plan is not just sufficient to hit the rod. The business idea on which you are planning to obtain funds should be showing some promising real added value & to achieve it one needs to have a team that has the core expertise on it.
Business Idea should be tested- Is your business idea achieved any clients? Can one play with the product or try out the service on a trial run? Has the idea created any interest in the target market? This is probably what more of the Investors also look for when you present a plan.
Management of Funds – This is often not been properly & confidently pitched by entrepreneurs. One should be able to showcase how the funds that they plan to obtain from the VC can be spent in the next 5 years. How was the capital investment of the entrepreneur used & in which areas?
Marketing Strategies – There is also closely seen by the VC.What marketing strategies are planned to be used for gaining the sales figures as forecasted in the plan. What are the alternate plans if they do not work out? Do we have a exit plan?
I have come up with some more information while you keep noting these above points mentioned by us. SMC is a small business expert providing marketing consulting services to start-ups who plan to start a new business. They can be consulted for any further information.