You’ve got your brilliant idea, started your startup, and quickly turned it into a world-class prototype ready to woo investors.
To turn your startup into an investor magnet, catch their attention, and nail that first investment, here are four things we’ve learned the hard way:
Do more than talk – show
Investing in startups is risky business, and investors know that too well. Therefore, before approaching them, create demonstration-ready software prototypes at light speed. Having a prototype ready at hand will significantly increase investor trust and show that you’ve got a strategy for reducing product risks.
Make sure your ideas align with investor interests
Before making your pitch and presenting your prototype, be 100% certain that they qualify for funding by the specific investor you are targeting. Thoroughly researching the investor – who they are, what is their vision, where they invest, and what they are looking for, will show that you are serious about working with them.
Demonstrate the potential of high returns
This may seem obvious, but if your great idea is not highly profitable, you may have a hard time finding investors. Investors are looking for projects with a potential for high returns. They are mostly attracted to either projects with highly scalable business models, or ones that offer innovative solutions that could disrupt the market.
Investors know that people and culture make a difference to startups. Having a dedicated, highly experienced team behind your project and agile project managers/team leaders who demonstrate a high level of expertise assures investors that your idea is backed with people who can bring it into life. Provide them with stories that demonstrate the problem solving and teamwork skills of your team.
Are you working on getting your ideas for innovative software solutions ready for investor meetings? Volo can help your prepare a game-changing prototype quickly and cost-efficiently.