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Top 10 Tips You Need To Know Before Raising Business Finance

Finance 12/03/2014 11:32 am

Is your business ready to raise finance?

Before you go start creating your pitch, check out GrowthFunders‘ top 10 tips to create a killer crowdfunding pitch. Each tip has a blog created specifically around it, make sure you check those out too by clicking the titles.

  1. The Idea

Coming up with an amazing idea is all good but it’s only a start, and not much more. Make sure you have the skills, knowledge and networks to turn it from the initial idea into a successful business.

  1. Social Media

Social media is pretty much a standard appearance in most people’s everyday lives. If you don’t have much in terms of a marketing budget, why not use this free yet invaluable marketing tool?

  1. Your Team

Your team is the most important past of a business, it needs to be strong. Identify your weaknesses and hire people who excel in the fields you need them to and work together to achieve success. Your ‘in-house’ team are crucial but don’t forget the importance of your outsourced team and professional advisers. Choose wisely!

  1. Lean Start Up Methodology

Lean start up changes everything (and you don’t have to be a tech start up to use this approach when building your business). Identify a genuine problem in the market place. Talk to your potential customers and make sure the problem is real and create products / services that provide the solution. MeasureE the customer response and learn from this feedback.

Use the Build → Measure → Feedback feature to get quick, quality feedback from your target audience. Are you creating the right product for them, and if not, what do you need to do in order to make it right?

  1. Business Model

How does your business work?  Who are your customers? Think about key partners, resources, segment your customer and develop your value proposition for those particular customers. Understand how you are going to create value for them. Identify your sales and marketing channels and make sure you have a clear understanding of your cost structure and revenue streams.

  1. Financials

Investors want to know what their money is going to be used on, as well as your business’ projected growth potential. Strong, realistic financials are a must. Be aware of your burn rate and runway.

  1. Investor Presentation

It’s a good idea to develop a professional slide deck, keep it short, sharp, and punchy; style with substance.  You are pitching to real investors who could potentially offer you money. Imagine you are pitching face-to-face, what information do investors want to know? Key points to include: business introduction, problem and solution, the team, market size, (trends, and competitors), business and revenue model, USP, marketing strategy, sales channels, use of funds, and exit strategy.

  1. Business Plan

This is an extension of the Investor Presentation. You should include the narrative that would complement your slide deck. This should bring the business description, executive summary, market research, operations plan, financial plan, project management plan, and marketing plan together in a concise package.

  1. Make A Video

A professional video is vital.  It’s one of the most important pieces of collateral you will produce because it’s generally your first point of contact with potential investors. A poor quality video is an absolute turn off – even if the key message is good. However, a professional, well-scripted video pitch with a strong clear message will be worth every penny.

  1. Set A Valuation

Your valuation has to stand up to intense scrutiny. A lot of things have to be taken into consideration when you are setting a valuation, including: how much money you want to raise, Intellectual Property, how quickly you can be copied, and market trends. Make sure your valuation is fair, reasonable and watertight under questioning.

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