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Everyone has ideas or projects in mind, but building them, marketing them, making them profitable, Ahmed Bakran says, developing them with the goal of turning a profit is a much more difficult thing. The entrepreneur who launches must normally collect a certain amount of funding in order to be able to realize his dream. Still, attracting and persuading investors, whether they are individuals such as Ahmed Bakran suggests, or investment funds, is not easy. Here are some essential tips to put the odds in your favor and get that capital you need.
With capital, companies have been able to develop, invest in large-scale projects and increase their workforce. Investors are an essential lever for your firm, find out how to approach them.
Create a clear and concise business plan with Ahmed Bakran
A real business card for your business plan, a business plan should not be overlooked and is essential. Essential to the understanding of your business by investors and by other partners such as bankers or associates, it must be carried out with clarity and conciseness.
Your plan should contain all the elements that demonstrate that your project has great potential. The document should also answer key questions about target customers, the composition of the management team, knowledge of the competition or the period until anticipated profitability.
With the business plan itself, an executive summary, known as a summary of the plan in one page, must be introduced concisely, supplemented by tables of financial statements and income statements, fixed costs, etc. It is important to cite the sources for the information you have disclosed. Include your projects on rate of growth potential, costs of goods or capital, a market study (if needed), your business strategy, or on the inventory of the necessary resources whether they are human or material.
Investors will be more attracted by a demonstration and an in-depth and detailed analysis of a few key indicators, rather than a heap of data. In order to answer questions as quickly as possible, master each element of your business plan perfectly, in order to show your fluency and command of the business you are proposing.
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Pitch your business
According to Ahmed Bakran, the pitch presentation is a fundamental element that allows you to expose your project face to face but in a very short way. Now is the time for you to convince the investor, which, if successful, could give you great resources (both financial and advisory). It must therefore be prepared with meticulousness and must leave no room for improvisation. Often, professional freelancers can also assist you in the language, grammar, and format of your plan.
With the help of your relatives or collaborators who will play the role of investors, you can prepare yourself by presenting your speech and asking them for their opinions and criticisms on your service as well as questions related to your project. This is a good way to anticipate and organize appropriate responses in advance, because possible investors will try to pressure you to verify the feasibility of your project. Organize your statements when you are developing your pitch.
First, by showing clarity and simplicity. An audience’s attention can easily dwindle in seconds, and the use of complicated words can prevent them from clearly following you. It is therefore essential to make a short presentation of 30 seconds to 5 minutes maximum, using simple but effective words. Also, show passion and be aware of your emotions. Someone who is enthusiastic, dynamic, and motivated will have a much better chance of attracting investors because they will have an emotional impact, rather than a shy person, anxious to speak, Mr. Bakran suggests.
Share your project with the general public
Testing your product or service concept with the general public, through social networks or via crowdfunding platforms such as Ulule, KissKissBankBank, Kickstarter or Wiseed can be useful. This is an opportunity to win over potential customers and, in the event of success, to help market your product globally through these platforms.
By creating a kind of community around your product or service, investors will have more buy-in with the project, and you will be able to further tailor service to your customers in the subculture you have created, which is powerful. Entrepreneurship-related events and fairs are also important places to share your project and could be great places to solicit feedback on how you can do things better. You will have the opportunity to see in real time the reaction of people to your service or product. Follow Ahmed Bakran‘s advice to attract and convince investors.
