photo credit: huangjiahui
Going into a new business deal one of the things people stress the most about is obtaining the financing that they will need, especially in today’s economy with such strict provisions on financing. Here are some really good helpful tips on how to impress the investor and increase your chances of obtaining that financing that you need.
- The Wall Street JournalÂ suggests that you have proof of a good size market. Most investors have a “sweet spot” of around $10 billion for the market they are looking for.
- Make sure you provide them with references that will speak great things about you in terms of being able to handle running your own business. Investors want to be reassured that you have what it truly takes to run your new start-up.
- Have a truly meaningful product or service in your pocket. Even businesses who don’t have a long track record of good revenue can still get financing as long as they have a meaningful product to show that the investors can understand, sympathize with and know that customers will want.
- Before stepping foot into a VC’s office, make sure you come equipped with a finished prototype, says Jeffrey Carr, the executive director of New York University’s Berkley Center for Entrepreneurial Studies.