The Easy Steps To Getting Investors For A New Business
If you want to start a business but you don't think you can swing the startup costs on your own, you'll have to go out and try to get some investors. You'll have to decide what type of investors you want these people to be, and how much influence they'll have with your day to day activities. Some investors want to be hands on in making decisions, other only want to deal with financial problems. Here are the steps you need to take to get compelling marketing tools that will attract investors.
Meet with an Accountant
You should meet with an accountant to determine the accurate startup costs that will be associated with your business, so you know how much money you're going to need from investors. Have the accountant give you a detailed breakdown of what the costs could be to get the door open, and then to maintain the business for the first year. Making projections can help make it more real for the potential investors.
Research and Compile
After you have your budget, go out and look at your market. Research who your competitors are going to be, how much they're making, where you want to put the business, and how you are going to market to your potential customers. Compile all of the information that you want, and then start to put it together in a booklet.
Create the Best Print
Find an online printing company like Scan Copy Print Inc and print your business plan with pictures and graphs, and then put all of it into a binder. Get as many high quality great catalogs or binders as needed to pass out to all potential investors.
You may also want to get business cards and postcards with information to leave when you start to look for customers and locations for your business. Professional looking research materials compiled in an easy to follow guide is going to attract buyers, and grab the attention of people who are short on time and don't want to search for information.
The better your booklets or magazines look, the better your chances will be of finding investors. The investors will see that you took the time to produce a high quality proposal for everyone, and that you are taking your business seriously. You can choose to make the investors long-term partners, or to pay them back and have them release all of the ownership that they have over you if you want to be the sole owner of the company in the future.