Raising money for your business is all about creating the right message, getting it to the right people and selling yourself and your ideas. Being on top of the trends, knowing all the details, and being super prepared will go a long way to getting the financing you need to grow your business.
1. Be Passionate – Why is Your Business Great and Why Should Someone Join You?
You must be in love with your idea and all in or you can’t expect anyone else to want to get on board and give you funding. It is critical that you be able to explain your concept and how it will make the world better. Enthusiasm is contagious. Capital Now has that drive and will help you meet your goals.
2. Be Unique. Be the Star!
Craft a stand out sales pitch, that quick elevator spiel, that creates interest and gets investors to listen and invest. You have to shine because there are so many people asking for money. You are your business and must show why it is the best. Be honest and realistic. Savvy investors know a snow job when they hear one – share your strengths and the high points but also disclose the weaknesses.
3. Experiment First
With online options for pre-selling, your business ideas there is no reason not to test out concepts so that you know you are on the right track. Try a Kickstarter campaign and see if you really have a marketable product, not just a great idea. Nothing will help raise funding with venture capitalists like having real sales under your belt. In Western Canada Capital Now can help you turn those sales into actual cash today by purchasing your invoices (accounts receivable financing).
4. Do Your Homework
It is crucial that you know all the details of your business and your funding requests. Know what you need and what you have to offer the investor. Again, you need to get the basics down to a quick and catchy short pitch but you also need to know all the little details as well.
5. Attend Funding Events
Clearly, you have to meet and connect with investors in order to make a pitch. An effective strategy is to attend an angel investor and other funding events specifically designed to match start-ups with people looking to invest. You know the investors attending are actively interested in funding new businesses! Find out who will be attending so that you can focus on the people best suited for your endeavor.
6. Try Alternative Financing Options
In Western Canada, an effective alternative for raising capital is to sell your pending invoices. Known as Accounts Receivable Financing this allows you to get money immediately for invoices that often have a 30 day or more payment waiting period. You’ll be able to get that money now and reinvest it in your company and pay your employees.
Call Capital Now today to arrange for accounts receivable financing and get your small business back in the black.
Also published on Medium.