This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.
How to get "started"
This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.
Every startup waits for the day when they will be going for the first round of funding.! Going for a funding is an easy task if you do it in a planned way. The majority of the startups makes one or the other simple mistake and thus lose a chance to get funded on the first try. Here are the 5 important aspects that you need to take care of in order to increase your chance of getting funded.
#1. Focus properly on your branding !
Branding for Wow Factor by
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While you are pitching, you need to be very clear about where will you spend the amount. There could be counter questions asking you the reasons to invest that particular amount for a specific purpose. So, whenever you are going for pitching make sure that you have a particular amount in your mind that you are looking for.
So, you need to be very clear on where are you going to spend the amount with a proper reason and should be able to convenience the investor that your decision is correct.
#4. Have a clear idea about your revenue model
When someone is investing a huge amount in your business, definitely they are looking for a good ROI (return on investment). You need to mention a very well planned revenue model of your business and explain it very well so as to get the trust of the investor.
#5. Represent your startup well
This is the point where actually a few people have made a mistake. The presenter or the person who is representing your startup needs to be excellent at communication in English and the regional language as well.! He needs to be smart enough to give a correct and a sensible answer to every question that pops up at the time of pitching.
So, these are the things that you need to take care of, before going for a startup funding. If all these things are taken care of, you are already a step ahead than your competitors and thus your journey towards the first round of funding would be hassle free.! Go, Get it.!
Cheers!!
images: unsplash, fresh mind ideas.