Tag: Angel Investors

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Startup

These 5 Fundamentals Of Business Will Help Your Startup Grow!

These 5 Fundamentals Of Business Will Help Your Startup Grow!
These 5 Fundamentals Of Business Will Help Your Startup Grow!

Doing multiple things at the same time and without having a solid business background, being in charge of a lot of things can feel overwhelming. Understanding how to read a balance sheet and a financial statement is just as vital as it is to understand how to make, launch and market the product or offer A-class customer service.

While many entrepreneurs and small business owners hire a business coach, others try to figure out the market trends on their own.

No matter what the nature of the business is, there are fundamentals that every entrepreneur must be aware of to keep their business thriving. Here are five fundamentals that you must know to grow your business startup:

1. Avoid Rushing

While business expansion is on every entrepreneur`s mind, growth and scalability are the product of consistency, persistence, effort, and hard work. However, doing multiple things in a bid to attain instant results can result in a disaster. If your business is in the early stages then do not try to market your product or service to everyone. Target a small niche of consumers first, and then focus on reaching out to a wider audience. Here is a very informative video that will tell you how you can scale up your business. Watch it here:

2. The Regulatory & Legal Framework

Every country has some laws and every business requires certain financial, economic, and legal frameworks in India. Adhering to all the regulatory and legal requirements is required to smooth the working of your business. Some of the legal aspects that your business must include are business structure (corporation, partnership, and sole proprietorship), business name (copyright issues), tax IDs, and permits & licenses.

Understanding the legalities also means managing your rights and maintaining the right to do business. Also, insurance is crucial to any business as the future is uncertain. Having insurance is essential to growing a business at any stage of development.

3. Cash Flow

Understanding the concept of cash flow projection is a vital step because budgeting is the first step that will take you on a successful entrepreneurial journey.  You must be well acquainted with information like how much money your startup can expect to earn. How much profit will be generated, and how much funds will be required to continue day-to-day operations? Set realistic goals and take a cold, hard, fact-based look at what you can reasonably expect in the future from your business.

Have a basic understanding of financing and fundraising options that include angel investors, venture capital, self-funding, crowdfunding, loans, grants, and more.

4. Forge Collaboration & Networking

Networking is one of the most crucial factors that can help a business to grow immensely. Topping the list, every entrepreneur must focus on building an online and offline network. Building an online network with some of the most important key influencers is a really powerful thing to do. This can lead to people sharing your brand with others.

If you don’t have a large circle, go out and meet new people to build meaningful connections. Create a profile on social media and be socially active with influential people. Follow their blogs, and leave comments on their social network profiles.

Engaging with influential people on social media can bring you to their notice. If you work with a business mentor he can also help you build strong connections through his network.

5. Marketing Strategies

Having deep marketing knowledge is a must-know thing for every entrepreneur. Marketing is essential for the growth and profit of any business.

For instance, you have created an amazing product. It can change the lives of your customers, but your customers are not aware that your product exists in the market. Would it be beneficial for your business or your customer? Not exactly! Hence, you will have to invest a considerable amount of time into marketing.

Also, people do not like to make purchasing decisions impulsively. They need to be persuaded, coaxed, and reassured. That’s what a good marketing strategy does. You will need to understand your customers and their buying behavior to sell your product or services in the market.

Entrepreneurs must keep these fundamentals in their mind that will help them to scale up their startup business. Put these to use and with your determination and perseverance, you will see some excellent results.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses. To know more, visit: www.badabusiness.com

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Strategy

6 Smart Tips For Entrepreneurs To Build Strong Relationships With Investors!

6 Smart Tips For Entrepreneurs To Build Strong Relationships With Investors!
6 Smart Tips For Entrepreneurs To Build Strong Relationships With Investors!

Summary: When adequate funds are the only thing that is stopping your startup from becoming successful, you might want to think about establishing good relationships with your investors.

Entrepreneurs put in their immense effort and hard work in pitching their business idea to angel investors to bring them on board because the key to success for most startups is having funds for the growth of their business.

However, a deal is never done when it comes to dealing with investors. If you have wooed your investors once, it does not mean you won’t need them again in the future. Investors with their lots of experience can offer incredible insight and resources that can get your startup business on the right track.

According to experts, nearly one-third of the startups shut down because of a lack of planning about the proper usage of their funds. This leads to investors losing interest and credibility in their business venture at the very early stage. Many entrepreneurs often hire a business coach to help them navigate the rough waters of the business world.

Managing investor relations can make a huge difference to your business. As an entrepreneur, it is your responsibility to strengthen ties with investors to position your current business for success. While a strong relationship can help the startup to grow rapidly, one wrong move can end the game for you.

Therefore, it is highly essential for you to maintain a working, productive, and winning relationship with your investors, even if they are not friendly.

Here are six pointers that will help you to build a strong and cordial relationship with your angel investors:

1.  Don’t Choose Investors Solely for Financial Purpose

Investors can provide not just funds, but also their valuable guidance and experience to accelerate your business. Acknowledge the relationships and expertise investors will bring to your business by giving them a voice. Listen to their underlying apprehensions and concerns. Encourage open conversation and clear dialogue so that you can learn more about their risk-taking appetite. You can consult with a business coach as well to understand how you can maintain dynamics with your investors.

2. Set Clear Expectations in the Beginning

An entrepreneur and investors need to be on the same page as nobody likes surprises in the business. Thus, it is vital to set the goals, nature of the relationship, degree of control, vision, the scale of growth, and exit strategy that is acceptable to both parties.

3. Be Authentic & Respectful

Investing in any firm is not a matter of a “fund it and forget it” scenario for any investor. In fact, they would like to stay updated with the latest ongoing in your organization. And when you are looking to strengthen your relationship with investors, it should be rooted in authenticity and respect. As entrepreneurs are coming into the market with their ideas, they should also respect their investors` opinions, suggestions, and feedback.

Despite the disagreements, they must behave respectfully towards each other. Discussions should happen openly to arrive at a mutually acceptable solution.

To gain investors’ trust, startups must engage with them regularly, instead of treating them as an obstruction that needs to be dealt with.

4. Share Challenges & Achievements With Investors

Every investor wants to stay updated about the current progress of the venture he has invested in. Hence, update your investors regularly with the latest figures, and charts prepared by the startup team weekly or monthly, if not daily.

Also, be transparent with your investors. Even when there are failures or mistakes, be forthright with your angel investors. Keeping your communication channel open with your investors helps you build a positive image of the startup.

5. Pay Respectful Towards your Investor`s Input

Investors can guide your startup business with their expertise and insights gained from years of experience in the market. You don’t have to agree or incorporate every suggestion, but paying heed and valuing them will give your investors a sense of involvement and validation.

6. Address their Concerns

Investors might have concerns about your plans, strategies, or any other aspect of the business. You should make a conscious effort to address those concerns through open discussion, dialogue, and reasoning.

As founders seeking capital quickly learn, finding the right investor is often all about who you know.

If you are facing the biggest challenges from your investors, we can provide you with amazing solutions with our business coaching program. You can learn from the top industry experts how to take your business ahead in the market. Kick start your entrepreneurial journey by clicking here: www.badabusiness.com

Categories
Startup

Want To Pitch Your Startup Idea? Here Are The Top 4 Ways To Do It!

4 Effective Ways to Pitch an Idea to Investors Confidently!
4 Effective Ways to Pitch an Idea to Investors Confidently!

Summary: Pitching your idea to your potential investor seems incredibly nerve-wracking. But it is vital to any startup business.

Pitching a business idea successfully to an investor is an entrepreneur`s dream. However, it’s a nerve-wracking experience too! It is like the feeling of giving a presentation in front of the entire class. The only difference between the two is that the former is more challenging!

One often wonders if the potential investor is interested enough. Will they like the idea? And most of all is this potential investor going to fund the project?

The key to doing it successfully is being able to deliver it confidently. However, it can appear as a mammoth of a task if you feel shaky about your public speaking skills.

So how can you ensure that you get investors for your startup business? By not doing mistakes that most entrepreneurs commit unknowingly and by attending India`s most powerful business training—‘Leadership Funnel Program 2.0’ by Dr. Vivek Bindra. Also, they practiced the best ways to approach their investors.

Here are top tips for pitching your great ideas or products to investors:

1. Focus On Your Purpose

Connect with what you are doing and focus on the solution that your business idea will provide to your customers. Find a way to calm yourself down beforehand. Practice moving the focus from yourself and your body back to the room, the people there, and your message. Always remember it’s your idea that matters.

2. Perfect your Elevator Pitch

Your elevator pitch is a teaser of your startup business idea. These 30 seconds of elevator pitch should explain everything that someone would need to know when they meet you for the first time.

Your elevator speech should be crisp, direct, and clear. It should simply describe your product or idea and tell your investors everything if they have no background knowledge about your startup.

It should cover the 3W`s- ‘What you do,’ ‘What problem you solve,’ and ‘Why are you different?’

After your pitch, make sure to connect with the person listening. Ask them questions and resolve their queries. Learn how to impress investors with your elevator pitch by attending LFP 2.0 by Dr. Vivek Bindra.

3. Find & Research your Potential Investors

If you come prepared, the battle is half won! So before doing your pitch, do some research on who you will be presenting. You can also work along with a business coach who can help you find some investors.

You can also search for the list of Angel Investors networks that focus on your region. Some of the investors may be popular figures. So you can research them well online. Study their patterns, as some investors like to be involved in the company they are investing in. Others would rather be hands-off and would rather like to receive quarterly reports on profitability.

4. Present Facts & Figures

When you are pitching your idea to a potential investor, provide solid data reports. Investors are always interested in what you have already accomplished. Also, how much profit they will make post-investment in your company.

The value of a startup is often built even before they have made profits. The numbers behind it are often driven by speculation about how well the company could perform shortly.

However, you must also be well-prepared to back up the numbers you provide to your investors. Investors would want to hear the reasoning behind your numbers.

Do not just give a random figure of new customers your company is acquiring every month. State the exact number of how many customers you will acquire. It does not matter if you are attracting 20 or 20,000 customers. Your transparency and honesty are what matter the most!

Always remember that an investor is not just investing money into your company, they are giving it to you. And they are investing because they believe in you.  Hence, give them confidence by providing real data.

Are you trying to find investors for your startup, but could not despite having an innovative idea that could make huge profits in the long run? Worry not! With our ‘Leadership Funnel Program 2.0 by Dr. Vivek Bindra’ you can learn how to raise funds for your business even without an investor. For more information, click here: https://www.badabusiness.com/lfp?ref_code=SM&pp_code=BHBB000078 .