Every startup waits for the day when they will be going for the first round of funding.! Going for a funding is an easy task if you do it in a planned way. The majority of the startups makes one or the other simple mistake and thus lose a chance to get funded on the first try. Here are the 5 important aspects that you need to take care of in order to increase your chance of getting funded.
#1. Focus properly on your branding !
This is a very crucial point where most of the people make a mistake. When you go for funding or even before you start functioning, it is very important that you have a perfect branding material. This starts with your logo and the list continuous to your visiting cards, your pamphlets, your social media posts, the banners, your website and a lot more.
So, the first and very crucial part are your branding materials because that actually represents your startup in front of your clients, investors and other people.
Related post : Branding for Startups
#2. See to it that you have a proper presentation
While you prepare your presentation for a pitch, you need to be very careful that your presentation looks fantastic. There is a notion that it has to look very professional.! No, that is wrong, your presentation does not always have to be professional you can accommodate all the creativity that comes up in your mind.
If you own a food related startup, you can make up a customized theme of presentation which highlights food, if you are an IT service company optimize your presentation so that it looks like you are passionate about your work.
#3. Be clear where are you going to spend every single penny
While you are pitching, you need to be very clear about where will you spend the amount. There could be counter questions asking you the reasons to invest that particular amount for a specific purpose. So, whenever you are going for pitching make sure that you have a particular amount in your mind that you are looking for.
So, you need to be very clear on where are you going to spend the amount with a proper reason and should be able to convenience the investor that your decision is correct.
#4. Have a clear idea about your revenue model
When someone is investing a huge amount in your business, definitely they are looking for a good ROI (return on investment). You need to mention a very well planned revenue model of your business and explain it very well so as to get the trust of the investor.
#5. Represent your startup well
This is the point where actually a few people have made a mistake. The presenter or the person who is representing your startup needs to be excellent at communication in English and the regional language as well.! He needs to be smart enough to give a correct and a sensible answer to every question that pops up at the time of pitching.
So, these are the things that you need to take care of, before going for a startup funding. If all these things are taken care of, you are already a step ahead than your competitors and thus your journey towards the first round of funding would be hassle free.! Go, Get it.!