Nowadays everyone wants to start their own business, do something on their own but have no idea where to start, or where to invest! Don’t worry, we got your back! Starting your own business from scratch sometimes can feel scary but if you have a plan then you have nothing to worry about! You may need to talk to 100’s of people and they may even let you down but remember good things take time! So here are few things that I think can help you find an investor:
- ANGEL NETWORK:
An angel network/investor is a person who will not only invest in your startup but will also give you advice, offer mentorship, and will also connect you with people in your field. In exchange for investing in your company, they ask for ownership of the company. They also provide you with an office to work in.
- INCREASE YOUR SOCIAL NETWORK:
The more you talk to people the more clear your choice will be! You will have more options in front of you, you will gain more knowledge about different companies that can invest in your startup. Tell your friends and family about your startup and they can even suggest to you any investors that they know of. Going to events and meeting new people can help you find investors. Attending events where investors are looking for entrepreneurs can be of great help!
- INCUBATORS AND ACCELERATORS:
Many of you might think that the difference between an incubator and an accelerator is not much but, there is! An accelerator is basically who supports your startup by putting in required funds for your early stage of expansion. When you want an accelerator to invest in your company you should already have a commercially viable idea that is ready to take the market. They even offer you mentorship but will not take any idea/project that is in the early stage or is just a thought.
Every startup accelerator has its way of working, while some may ask you to attend meetings or to work in a shared office with other startups, others might just give you your own space for your business to grow.
When you go to an incubator and you don’t have any idea for your project, it’s totally fine! That’s what incubators are for, they will suggest ideas to you. Incubators have many ways to help you to start a business, they would just give you an office to work at a cheaper cost or might just connect you to expertise that can help your business grow. Most of the incubators are non-profit organizations and are mostly run by government organizations.
- STARTUP LAUNCH PLATFORMS:
Many companies provide information, research, and assistance to get a business started. The companies also tell you how you can get in touch with various investors that can be of your help. So basically, they give you suggestions to start your business, how you can start it, what all things are required when you start a business. If you want to start your own business but don’t know how to start then going to any startup launch platform is a good idea.
If you have all the resources, an office to work in but just need a small amount of money then micro loaning is a good idea. A microloan is basically where a small amount of money is lent at small interest to new business owners. Microloans give money to companies that have bad credit and cannot take credit from the bank or to the individuals who want a small amount of money that is below the limit of the bank. The main purpose of micro loaning companies is to help third world countries to help the poor and to bring change.
To start your business, you will need to have a clear idea in your mind. You will have to think about how you will work things out, how you will gather all your resources, and the two most important things:
- How will you execute that idea?
- How will you convince the investor to invest in your business?
To convince investors for your startup you will need to show them why investing in your business is worth it, show them your idea, show them your potential, discuss your idea with them and take their advice. But at the end of the day, you will have to understand your own financial goals and your priorities.