What does “Investment Ready” truly means?
Investors will hear about many
potential investments during their time, so why should they give you the time
of day? You need to make them see that you and your business ideas are
investable! So, how do you get there? Just check out these tips that will help
you become investment-ready;
1) Make Your Business, Commercial
If your business doesn’t look
professional then no-one will take you seriously. Try and view your business
from the investors and client’s perspective – Would you use your service? Have
an appealing website, up-to-date social media followings, and make sure that you
have researched any potential competitors, what makes you different?
2) Have a strong to-the-point
Don’t fill your business plan
with unnecessary jargon. Keep it simple, easy to read, and straight to the
point. Use points and headlines with descriptive paragraphs, which will help
the investor follow plans in a step-by-step format, but it will display your
efficiency, professionalism, and determination.
3) Have numbers that are
realistic and achievable
At this stage in the process, you
may not have a clear idea of how well your business will do, but investors will
see right through any unrealistic targets that you set, it is best to stay
honest, take it step by step, and take it from there. Start working out what you
would have to achieve with the funding that you would get in order for the
investors to see a growth.
4) Prepare to scale the business
Be prepared for your business to
perform well, how will you perform under an increased or expanding workload?
How will you maintain a consistent level of performance?
5) Know your market
Who will benefit the most from
your product or service? Plan how you’re going to sell. Visualize it as if you
are the client – What would make you want to utilize a service or buy the
product? Some great ways to make it better is by conducting consumer research,
you can do this by; producing and sending out online surveys, engage in focus
groups, or do some public product testing. These will give you some target
audience reviews and feedback.
6) Have revenue on the board
Action speaks louder than words,
nothing will prove more than your product selling compared to already having
customers or clients. This shows that your business has potential, which can
only grow to a wider target audience. If there is a gap in the market and you
are addressing then this is a great way to prove that the world needs your
Additionally, any feedback that
you gain from your research is an opportunity to make any amendments to ensure
more revenue, before approaching to investors.
7) Have a proof of concept
How will your product/service
work? You will need to realise which certain methods work in order to
demonstrate its feasibility. Investors want to see that your idea has worked in the market, or will work. Is what you are
building actually possible.
8) Have a good team of advisors
Ensure you have a group of
individuals who have advised you on certain business issues you aren’t sure of
like business issues including marketing, sales, finances, operations, etc. It’s
great to have a good support network that you trust. Always surround yourself
with people who know more than you. It is even better if they can also bring in
9) Have the progressive attitude
If your mental attitude is
anything but positive when it comes to achieving your goals, and becoming an
entrepreneur, then you will fail. You need to always believe in yourself and
your business, even when times are hard. Investors invest in individuals
and not just the business at this time. Stay determined, be passionate, and
strive for success at all times.