3 Proven Tips For Impressing An Investor In Your First Meeting.
Emmanuel Nnaemeka
Impressing an investor can catapult your startup into the limelight and critical success. However, investors are difficult to impress. Investors are brilliant people with so many experiences in their bag. They know the business terrain more than you do. They can tell if a business will go far or not. Therefore, your priority when you meet an investor is to sweep him off his feet.Read more about BusinessMeeting an investor is like a job interview that requires preparation, ensuring to present the facts, the right words and other convincing statements and so on. Have it at the back of your mind, that meetings with investors are often brief. Therefore, impressing an investor with a short meeting time requires hitting the right points on the head. In this article, I am going to take you through three powerful ways to impress an investor and get his money.
Be Clear About Growth.
Business growth – past, present and future – matters to every investor. Growth attracts investment. Whether you are just starting, or you’ve been running based on bootstrap, business growth is what inspires every investor to give you his money. Even if your business is presently doing great, investors are keen on its growth potential and futuristically viable it is. If you want investors to put forward a considerable amount of money and resources, you’ll need to amplify your past, present and future growth process, most especially the future. You will have to show them that there is a stable marketplace of consumers that will keep wanting your service or product in the long term.Further, you’ll want to clarify how your business targets your key personas and how much growth potential there is. Investors will want to see how their money could make a difference so you should look at identifying the key ways that your startup can do that.Sign up to the Connect Nigeria daily newsletter
Make Your Business Model Detailed.
For the investor, he is very interested in how you are going to direct the funds he is giving you and how they will spur business growth. To be honest, business models are probably the most crucial part of growing a startup into a bigger venture. For the investor, he wants to be shown the mode of operations, the processes, and the outcomes. He is interested in what you are doing and how effective it is, and with more financial backing, you can continue to do so. Ideally, your business model will be scalable and be as mathematical as possible about the revenue it generates and how it will grow over some time. Investors want to back an idea that isn’t dormant or stagnant, therefore, you need to illustrate how your plan will help your business grow.
Sell Your USP.
Your unique selling point (USP) is the primary reason why investors should want to back you and not your competitors or companies that are more established than your startup. You need to tell them your competitive advantage that is not available elsewhere. Your competitive advantage is what sets your business apart from your competition. It highlights the benefits a customer receives when they do business with you. It could be your products, service, reputation, or even your location. It could be that your USP could be a non-replicable technology.Featured image source: Clever Girl FinanceGot a suggestion? Contact us: editor@connectnigeria.com
