Making sure potential investors are impressed with your business is one of the most essential parts of securing funding as an entrepreneur. If you want to get the money to develop your idea, you'll need to be able to stun the people who are in a position to give it to you. Here are four of the best ways entrepreneurs like you can impress investors.
Start with a Prototype
Before you start asking for money, you need to be able to show your investors something with solid value that will demonstrate the viability of your idea to them. This is where a great prototype becomes a huge asset. If you can show investors exactly what it is you'll be offering, rather than just describing it, you'll be showing not only that your idea is viable, but also that you've already invested real time and work into it on your end.
Use Tech to Increase the "Wow" Factor
If possible, you should try to incorporate new technology into your investor pitch. This will convey that your business is cutting edge. If your product is made using 3D printing, for instance, be sure to emphasize that fact to any potential investor. By making it clear you're pioneering new ideas and taking advantage of new technologies, you can assure investors that your business isn't just a tired, old idea being repackaged.
Become More Professional with a Rented Virtual Office Space
Even though your business may not be established yet, using good offices for meetings with investors will help to make you seem more polished and professional. This is where the virtual rented office space model can really come in handy. Virtual rented offices give you services like call answering, receptionists, and a real business address, as well as access to good meeting spaces. The huge advantage for new entrepreneurs is that these are shared spaces, and so cost far less than a permanent office.
Show Successes with Data
Successful investors are, by their very nature, numbers people. This means that being able to quantify the success of a product or service will often appeal to and impress them more. If, for instance, you are providing patient communication services to hospitals, you would be far better off telling investors that your systems had cut patient on-hold time by a certain percentage, than just telling them that patients were spending less time on hold. This by-the-numbers approach will not only appeal to investors' love of data, but also show them that you are carefully tracking the success of your product and looking for ways to improve it.
These are just a few ways you can impress your investors as an entrepreneur. By taking these steps, you can be sure that the people who are in a position to fund your business will be satisfied and ready to help you succeed.