A startup is a great opportunity for people to start their businesses and fulfill their ambitions and dreams. It sounds pretty good and easy, but when you begin, there's a major obstacle in the way: financial things. To have a good start and become successful, there's no way around it, you need investors. Even though there's no guarantee you will win the deals, yet there are still some ways to make your chances bigger than others'.
Know Your Market
Market size is one of the biggest temptations for any investor. You not knowing it, however, is an enormous red flag. Products come in all shapes and sizes, industries, and other important metrics. If you are doing something innovative and the market is open wide and big, it's a big plus for you. In other words, be sure to know what's the opportunity to get big. Are there many people who would buy and use your product? What's the competition? How are you different?
Chances are every investor had seen hundreds if not thousands of people just like you. What they are good at is sniffing out your lies. You aim to win a deal, and there is to make a good investment that will bring them their money back along with interest and other perks. After so much time, trial and error, they are vetted in screening people right from the first meeting. So be sure to be authentic and frank about everything you say. If they ask something and you don't know that, say that you don't know and will get back then to them with the answer. However, you must know the basics and as much info as possible for your good.
Get An Intro
It may be hard, but getting an intro to an investor is quite a big boost in your credibility. If you have friends with businesses, they may know some, they must've gone through the same things you will be going through. Sometimes there is no way besides the cold emails, but there's only so much chance that it will do something. What I'm trying to say is try and do a little research, there may be some ways to this person that you don't know of that are easier and closer than you initially thought.
Make a Good First Impression
You know what they say, you don't have a second chance with the first impression, and it's true. Let's be real, there's no way you will know everything and be prepared for every question there can be. You can't possibly get into someone's head and know what they are going to ask. What you want to do is to try your best in preparing. Use all the stuff we talked about above and make a killer first impression!
Spare the BS
Small talk is great and all, but it won't make you an investment deal. The thing is, investors are usually very busy people with no time for such things. Besides, they are here for serious business and good investment opportunities, so spare them all the unnecessary talk. Your conversation must be high-level right from the start. Get straight to the point and be all businessy. Make your product known to the investors, pitch it like no one would, and your chances to get a deal will skyrocket.
Don't try to make yourself look good on every possible occasion. We talked about sincerity and BS, you remember?Pitching is good and all, but it alone won't make you a deal. Try to be down to earth as much as possible, don't overdo it. Be straight to the point and don't get too deep into the weeds if you're not asked to.