Sourced from Forbes
For entrepreneurs who are looking to raise capital, finding the right investors to pitch is only half the battle. Once you know who you’re going to reach out to, you must successfully pique their interest in your project, as well as keep them interested once they’re engaged.
This is easier said than done. You want to provide an investor with enough information to excite them, but you don’t want to bog them down with every little fact and figure about your business: Too much information, after all, can be as bad as too little contact. To help you get it right, a panel of Young Entrepreneur Council members offer their best advice for attracting—and keeping—investors. Here’s what they advise you consider:
1. Break Your Project Into Clear Milestones
Break down your complete project into visually appealing deliverables. These could be design prototypes, wire frames, marketing analytics or functional deliverables. Keep your documents and project workings as supporting information, but make sure to present visual, easily digestible, customer-focused milestones to get your investors up to speed and keep them excited about your project. – Abeer Raza, TEKREVOL, LLC
2. Cut Down The Word Count
Keep it simple. Make the information concise, short and digestible with the least amount of words possible. You are more likely to succeed if you make your business simpler to understand with shorter updates, while still hitting the key points. – Colum Donahue, NuLodgic, LLC d/b/a Genuity
3. Show Your Results
The best way to attract investors is to solve real customer problems, show results and try to continually get new customers. If you are a new entrepreneur, this will make it significantly easier to get and retain the attention of investors. – Susan Rebner, Cyleron Inc.
4. Build Human Connections And Strong Interpersonal Relationships
Investors are human, so they are vulnerable and fickle. They are persuaded by others and tend to follow the herd. Like any other job, they are concerned about their performance and future. It is very important that you nurture your contacts. They don’t like being overwhelmed with information and tend to like relatable people and businesses. Try to connect with them on a personal and human level. – Mathew Sposta, The Crown League
5. Put Your Updates In Chart Form
A chart is worth a million words. Every business has some quantifiable milestones and entrepreneurs often forget to share those milestones with investors. We believe in monthly updates with a chart containing key metrics and only a few words. This keeps investors engaged and excited to receive the next update. – Flaviu Simihaian, Troy Medicare