Investors for your business will consider quite a few things before they put their money where their mouth is. Oftentimes this includes your team positions, titles, and responsibilities. A track record proving your success, and an awareness of your competitors. Do not forget – the person you are meeting with for investments or loans wants to know how you plan to make the money back, and when you plan to see a return on their investment, so make sure you have not only a good but an efficient outline and set plan for how you plan to do this.
- Explain why you are different from your competitors. This should be a succinct version of what you hope to accomplish, and the investor or lender may have further questions you should be prepared to answer. Your business plan has many purposes: helping you start your business, attracting talent to help you run and lead the business, hitting milestones along the way.
If you know your business plan..
..you can be ready to answer just about anything that may be brought up. And having your business plan with you can be something to leave behind with them for review, or a handy item to point to when you want to show off your charts, graphs or photos of your products. An investor needs to see a viable, proven strategy for making a significant profit within an allotted time frame. here should be an element of realness that not only attracts the right investor, partners, and consumers–but also a place for you to return to when the going gets rough. A story that reminds you that sales may not always be up, but there is always tomorrow and a way to improve.
The investor needs to know that they will make a very secure, handsome profit in return for their investment. But also that there is a clearly defined, effective exit strategy in place for them to actually withdraw their profits.