While there are many benefits associated with running your own business, there’s no denying that it can be an expensive venture, especially when you are just starting out. 

 

Fortunately, you don’t need to drain your savings in order to start a successful business that lasts. For example, you could contact investors to get the ball rolling.

 

Their support will help you to stay in the green as you kickstart your brand, and can also help you build a better business when it's time to expand. Furthermore, as having some funding to back yourself up, which reduces your stress and workload, it makes it easier to juggle a successful business with parenting.

 

Photo by LinkedIn Sales Solutions on Unsplash

 

With that in mind, here are some top tips for securing funding for your business. 

 

Find the right investors. 

 

While you may be tempted to reach out to as many investors as possible in order to increase your chances of success, it's far better to be more intentional with your choices. For example, investors tend to stick to one or two industries, meaning you must find a professional who has worked within your sector beforehand. You must also ensure you get on well, as you’ll have to work together to reach your goals.

 

You should consider the following factors when finding potential investors: 

 

• Their specialties/previous experience 

• Potential conflicts of interests 

• Their location 

 

Perfect your sales pitch. 

 

Once you’ve identified a potential investor and arranged a meeting, it's time to prepare the perfect sales pitch. This may require a lot of work, as pitching to an investor is very different to pitching to a client, given that their end goal is not the same. 

 

While your financial plan and budget should make up a significant portion of your pitch, it's also crucial that you tell them the story behind your brand. This will help make your vision clearer and make them more inclined to support your moving forward. You should also give them plenty of time and opportunities to ask questions.

 

After your meeting, send a follow-up email to thank them for their time and attach any necessary documents you may not have sent over already. Then, give them some time to think about their final decision. While you should not pressure them to make a decision right away, you may want to reach out again if you do not hear from them in a few weeks. 

 

Discuss your business plan. 

 

When meeting with investors, you should also let them see your current business plan and the steps you are taking to achieve your goals. This will help them better understand where the money they invest will be spent, meaning they’ll be more confident in their choices. 

 

Again, be sure to give them time during this process to ask any questions they may have or to raise concerns. This feedback is useful even if they decide not to invest, as it makes you aware of potential errors or omissions within your plan. 

 

Make it easy for them to invest.

 

Another way in which you can win over investors is by streamlining the investing process. For example, you could use private equity fund software to help your fund raising efforts. This creates a ‘seamless digital subscription experience’, where investors can check in each month to make a donation or see how the company is progressing. This makes it easier for you to work toward shared goals or figure out where you may be going off-track.

Believe in your brand. 

 

While a solid business plan and high-quality pitch will go a long way when it comes to winning over investors, both of these are useless if you do not exude confidence during your interactions with investors. After all, if you seem uncertain about the future of their business, why would they give you any of their hard-earned money?  Conversely, if you are confident and self-assured, they’re more likely to invest. 

 

Final thoughts. 

 

In short, there are many different ways in which you can secure investments for your business. However, you should try to stick to the following guide: 

 

1. Research different investors to find the ‘perfect’ fit. 

2. Rehearse and perfect your sales pitch and business plan.

3. Send a polite follow-up email after your initial meeting.

4. Make it easy for them to invest.

5. Demonstrate an unwavering belief in your brand.

 

While all of the advice discussed above is useful, showcasing your confidence is perhaps the most vital step – as you have to believe in the brand yourself in order to encourage others to believe in you.