Convince Investors Smartly
Several Ideas are useless if you have not ample investment to implement and to develop the business idea. So to make that idea work, you need investors. But it’s not easy job to convince investors as perception always matters. Everyone has vivid point of views and it differs accordingly. It is a skill to convince the investor which every desired entrepreneur needs to develop.
Following are some- Do’s and Don't
1. Convince yourself and then others
At first you should be fully convinced with your business idea, because it gives you confidence to deal with investor.
2. Do your Homework
Have good homework. Prepare a list of which kind of questions can investor ask and also prepare convincing answers.
3. Be prepared for unexpected questions
You should be prepared for unexpected question from investor. If you are not sure about anything that is asked, genuinely accept that you are not aware of it, as this could create a fair image of yours into the investors mind and fake information can have reverse impact on your deal.
4. Tenure for ROI
Always keep in mind when investor will ask for the tenure for Return on Investment, play it with safe and, mention extended duration because in any case equations goes wrong for the planned ROI, you can tackle this situation more impaction.
5. Be genuine
You should be genuine with your business idea and the deal. Do not create any fictitious picture of business or never show investor exaggerate figures of profit.
6. Tell investor 'Why you?'
Here you can convince them about you. You can feature yourself and enlist the eligibility factors of you. You can also mention valid reasons for approaching particularly to that investor.
7. Your idea can change life
Convince investor that this idea is going to change your life and you can do anything to gain profit for the same.
8. You have options
When you will reveal the idea lastly ask investor for his decisions soon and let him know that you have also shared this idea with other investors and they are ready. This idea can work, keep in mind use your words wisely and be humble and very polite.
Good Luck.!
