A lot of us believe that we have a billion dollar idea and it fact it is a quadrillion or a septillion dollar idea until you put it out or until you get an investor to invest into what you think is your changing idea. A lot of people need an idea that will change the world, in fact so many of us are just thinking of ideas which will be worth the time and energy and hope for an angel investor or a venture capitalist to buy into them.
In other to get your business supported by an investor or a VC, you need to understand that you need to have an Idea after which the idea will become a big success, and in this post I will be sharing with you a few things.
Let Your Idea Solve a Problem
If you understand the law of demand and supply, you will know that there is always a problem that demands a solution. In most cases, the problem isn’t something that people are aware of. The needs do not have to be visible, all your idea have to do is create a need for what you are bringing to the market.
Your Idea Must Have a Unique Selling Point
Why should an investor invest in an idea that isn’t going to sell? Nobody is want to waste money unless they are willing to gamble at Las Vegas. The idea need to have something dynamic that will drive sales. The only reason you are in business is to make sales, if you do not want to make sale, then you are into charity. The Unique Selling Point of your product is what will be used to drive sales in the market and will be what a lot of investors want to hear since it is what differentiates you from your competitions.
Brand Value Promises
Either an investor or a consumer, one thing they have in common is they want businesses that can be true to their words. When you tell investors you will be doing 30 minutes delivery and will not be missing it, they will see that as an edge over companies that do 12 hours delivery, also when you tell that to customers and you keep to your words, they tend to trust you and keep the patronage.
Patent Securing of idea
Investors love to invest in unique idea that will not have a quick competition or not deliver the same services and when investors hears that the business idea got a patent, then you are on the line of getting then at your back to support you because they know they can’t steal it from you, so can no one else can.
Pitch for Investors
You cannot get an investors attention by giving them a long business plan to read, you need a pitch. The pitch should include the business name or the idea name, the problem customers are facing, how your idea will solve this problem, The idea market and how to get into the market to make sales, competitors and what you can do that they cannot, business model and finance. Finance is what your investors do.
Also, you might need an elevator pitch in case the investor is just on the way to his office. The pitch should include the problem and how your idea will solve it. The elevator pitch should not be more than 30secs – 60secs.
Getting an investor to support your idea is something that a lot of entrepreneurs look up to as there are a lot of ideas but little money or no money to carry it out. On a final note, ensure to be enthusiastic about your business or your idea, it gives investor reasons to trust your guts.