Financial projections, marketing plans, and team members are only some of the things that investors in Meridian require from entrepreneurs who ask for funding. Behind these technicalities, however, are a few important things that investors care about:
Believe it or not, it matters to investors and venture capitalists whether you have a good smile or not. Nice is the word, really – a charming smile. But why?
A good smile could mean the absence of stress. If you’re stressed, that means that you’re not handling your business well enough. To show a nice smile to your prospect investors, visit your dentist. You might need a dental cleaning session or some dental implants in Meridian.
Knowing your business plan inside-out can also help you reduce the stress you’re feeling. If you’ve learned it well, you’ll be able to answer any question that an investor throws at you.
Your Learning Ability
You have to demonstrate to investors that you want to learn. When asked about what motivates you, tell them that you want to learn more about the business you’re getting into and you want your business to grow.
Investors are interested in your learning capabilities and motivation because, in any business, the hours are long, exposure to business management is imminent, and the learning curve is steep.
Your Technical Skills
Your smile, physical presentation, and learning ability are as important as your technical skills. Attitude will get you through the first two, but how about the last one?
Depending on what type of business you want to put up, you have to show investors that you have the technical know-how and skills to move your business forward. Solid knowledge about your business is essential.
Of course, most importantly, investors need to know why you’re asking for their money. This point is already given, considering you’ve applied for funding. However, many entrepreneurs still miss this one chance to prove their worth.
Map out your plan. Remember, it’s in your business plan. And although investors have received a copy beforehand, they often skip this part and ask entrepreneurs right out instead. Tell your investors what your plans are about the money you’ll be getting. Make sure to lay out the details that will support your funding needs.
Finally, investors will scrutinize your humility. Will you be respectful enough to listen to them and let them finish before you speak? Will you be too talkative that they don’t have the chance to ask the right questions?
The secret here is to speak slowly and clearly. And don’t interrupt investors when they’re talking. Practice your listening skills here.
Yes, go for it! But don’t overpromise. Be honest about the struggles that your business is facing instead of promising that you’ll deliver this and that with the money that the investors are providing you with.
Don’t cover up by overpromising or even lying to an investor. Recognizing the current limits of your business or unforeseen changes in it means that you can look at the situation with a realistic point of view.