Investors can make all the difference for your small business. Lots of investors are concerned with more than just making money—they want to foster the next generation of bright young entrepreneurs, and will offer guidance and advice along the way. But the question is, how do you get investors to take on chance on your business? Read on for some helpful hints.
1. Know Your Finances
A good entrepreneur is one who knows his business inside and out, backwards and forwards. When you meet investors, be prepared to offer a clear picture of all the numbers in your business’s finances—what your revenue was in the last year, how many products you’ve sold, how long it took you to break even, etc. Investors are more likely to team up with an entrepreneur who knows his or her stuff. Biz2Credit offers a free BizAnalyzer tool that can provide a snapshot of your financial situation and offer ways to improve it.
Never underestimate the power of connections. Always put your best foot forward at social and business gatherings. Even if the people you meet might not become investors themselves, they might know other people who could be interested in your business.
3. Express Goals
Know the long-term goals of your business, not just the short-term goals. The best businesses are the ones that aren’t just seeking to make a buck, but that are also concerned with making the community a better place and improving people’s lives. Show that you have a real purpose for creating your small business, and investors will be more likely to want to work with you.
If you need help securing financing for your business, Biz2Credit can help. For business financing questions, call (800) 200-5678.