If you haven’t read my previous blog about For Startup Business and Entrepreneurs, How to avoid funding rejections? than here is the link to it. This is the continuous part.
After making list of the investors and VCs who can provide you sufficient fund it comes to do research on them. Make sure you know everything about them. Like their track record, past promotions and promoters, organizations that they have funded before and many other things that can give insight and knowledge about them. Even meet the people and organization that they have funded, check the internet about their information, etc.
How to Contact
“First impression in last impression”, Hence try to make first impression last longer. To do that find a credible intermediary, be it an entrepreneur, startup, or any organization that they have funded, renowned professional who is common contact and associate or anyone who is known to both. You have to make sure that you provide a proper briefing to the person whom you meet.
This is the most crucial and critical stage because investors get many plans and proposals, therefore rejection rate is very high. Make a plan that is error-free, succinct and concise. Make a list of the idea, product, how it will grow, its USP (Unique Selling Point), Current market approach, team members and their expertise, completed product and beta customers, Review and analysis about the product.
Prepare for Meeting
If your plan passes through starting stage and you get a chance of meeting, than be prepared to answer all the questions. Be precise, accurate and ready to cover any aspect that investors may want to discuss. That means that you must cover all the area and be ready for anything that you might have forgot to cover.
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