What is your idea? What are you trying to do with it? Have you considered pitching to Venture Capitalists for funding? There are many reasons why this is a good idea. Here, we will discuss seven steps that will help you get more Venture Capitalist attention and increase your chances of getting funded.
Define your idea and what it is trying to accomplish. Your concept should be as clear and concise as possible so that Venture Capitalists will have a better understanding of your proposition before they read one word about you or the business plan.
Research venture capitalists to find those who would be interested in investing in your type of company or industry. Discover which companies invest money into businesses like yours via their websites or by using search engines such as Google, for instance.
From here, try reaching out to these entrepreneurs if you are unsure how best to approach them with an individual email message outlining why you think this particular investor might want to hear from someone like yourself. Remember, these people are busy folks, so be cautious not to overwhelm them with emails.
Compile a short but all-inclusive business plan that will provide Venture Capitalists an overview of your idea or project and any pertinent information they should know about you as the person behind it. This means detailing what makes this concept unique from other similar ideas in the industry, how much funding is needed for success, where the money would go etc.
Consider using templates available online to make creating this document easier for yourself. Make sure everything is professional looking though! You want investors to take you seriously when reading through your proposal, which can help secure their support later down the line if there are still interested parties left after reviewing your work).
Find an intermediary to help with the process of pitching your idea for investment. Investor relations professionals or a person in charge of raising funds at a company are great options here because they have connections and experience that you do not. In addition, they will be able to offer constructive feedback on how best to approach Venture Capitalists.
Prepare what you’re going to say when it comes time for your pitch meeting! This means practicing aloud until you feel comfortable speaking confidently and articulately about why this particular business is worth investing in.
Also, consider writing down key points that would be important just in case things get hectic during these meetings since venture capitalists tend to ask many questions about any given project before deciding whether or not they are going to invest in it.
Step Six: Don’t be afraid to ask questions! A good entrepreneur always asks plenty of them, especially when they are first starting and trying to learn more about the process of pitching for funding.
For example, asking Venture Capitalists what their favorite part of a business plan is can help give you an idea of where your own should shine the brightest if you’re not sure how best to proceed with this project or company outline that you’ve spent so much time working on.
If you want a list of all the best Venture Capitalists, go to JSE All Share on their website!