Starting a business is already hard in itself and requires a great deal of dedication and hardwork. The entrepreneurs who finally decide to take the bullet and start their journey on a way to build something and leave their mark in the skyline with the others, face the first question of finding seed funding for startups in India and the right investors to back them while they plan to get off the ground.
With all the options and platforms available, supporting and encouraging young entrepreneurs, there are a couple of tips and tricks to have in your arsenal for backup to help build confidence. Because let’s face it, the investors and venture capitalists that are generally targeted by young entrepreneurs go through 100’s of pitches a week, so a little guidance won’t harm. A little presentation planning, a good network and backup may just do the trick in impressing the investors and eventually turning your business into a success.
Before you get the chance to set up a meeting with the investor, it’s quite a task to get their attention. Investors and venture capitals would probably have hundreds of emails and messages having the same request and cold robotic tone. Set your emails in a creative way to catch your investors eye. There is no good in sending the same automatic pre-generated message to all the investors. Curate a customised professional email to send to different investors, targeting them for a faster communication and creating a unique impression before you even meet.
Create angel list profile
Most people are not familiar with angel investors and the fact they are very interested in investing into new ideas and are more to take risks than what you’ll find in venture capitalists. Creating an angel list profile will fulfill two goals, for you to know about the investors and for them to know about you.
Creating the profile involves description of your products, your team and partners and obviously about the company itself.
People often tend to forget this extremely important fact of life when it comes to finding seed funding for startups in India. As much as you are looking for investors to back you up, investors are also looking for new and creative ideas to invest in and grow with them, so you need to be smart when getting into this business.
Let’s say that for instance, you are not getting much positive feedback, receiving turndown replies or no communication at all, HANDLE IT PROFESSIONALLY. Conduct follow ups regularly and don’t lose track of your investors, which is very common when entrepreneurs continue receiving negative responses and eventually give up.
Create strong networks
With the bulk of pitches swarming investors, it is extremely beneficial to be introduced by a contact or referenced by a mutual network. Once you make yourself a good list of investors, make sure to go through it individually by the people, looking for common interests, mutuals and experiences. It’ll help make a stand out impression and form a good opinion. Don’t forget the power of a mutual anything, contacts, experience or network. People share some of their strongest professional bonds based on mutual benefactors.
Seek guidance from the experienced ones
If you are reading this article, chances are that you are looking for some legitimate and practical advice from people who have been through what you are feeling at the moment. And it’s a good thing to consult professionals who could show you the ropes.
These experience holders will guide you through the process of looking for investors in India for startups, give you working knowledge of how to communicate and impress them who to eliminate and who may take your project up or downhill. You can benefit a lot from their sea of personal experience. Moreover they can shed some light on industry insights and tactics used in the business world, that way you wont need to go in blindly into the field.
There is no doubt that a business idea no matter on what level it is at, if it has potential, would eventually see the light of the day and gain a huge market for itself. But sadly it’s not enough. To turn a potential success into a real one, an entrepreneur requires thorough understanding of more than a thousand components that affects the run of the business world. It cannot be emphasised enough to seek guidance from the experience holders to avoid those basic mistakes that may just take your project down to failure. With great ideas, research and hardwork, an entrepreneur needs to play things smartly to establish themselves in the market.