Many small business owners spend countless hours each day scouring for investors, as having an investor often means the difference between a business that succeeds and one that does not. In order for someone to feel confident in investing in your business, however, you need to be able to prove that it is a worthwhile venture. Fortunately, with a little perseverance and a dash of luck, you can be on your way to finding an investor if you take the right steps.
Research Local Investors
When searching for someone to invest in your small business, the most important thing you can do is find someone whose priorities and interests are in line with yours and your business concept. As a result, you should research local investors and learn as much about them as possible. You may be surprised to find out that there's a perfect match for your business right down the road.
Work on Your Pitch
It’s incredibly important to formulate a strong, convincing pitch before meeting with a potential investor. As you only get one chance to pitch your business, the initial meeting is everything. Research what makes a good pitch, and work with someone who is experienced in writing them in order to ensure that you’re covering all your bases. Also, practice your pitch in front of friends and colleagues before sitting down to the all-important meeting.
Build an Audience
Those with established small businesses can do a great deal to convince a potential investor to go forward with the project by building an audience. This will show the investor that there are people who are interested in what you’re doing, and that investing will be worthwhile. Social media, local advertising and other techniques can all be used to help build a strong, loyal audience, as can word of mouth.