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One of the most important ways modern enterprise stands out from its predecessors is how new business venture fund themselves.
In the last two to three decades, a culture of aggressive fundraising has arisen, and high profile fundraising initiatives by eager startups worth millions of dollars often hit the media.
However, while it may appear that the process to simply apply to a venture capitalist (known as VC) who will assess business possibilities before signing a check, the process is not in fact this simple.
There are many ways you can optimize the raising of capital for business. Here are some essential tips that you will find valuable.
Do your own PR
Just like you, there are hundreds, if not thousands of entrepreneurs looking to enter the market with a bang. And, while you think your idea is highly innovative, you’ll find that investors often classify ideas into set categories. Even if you want to launch a website that’s the next big thing, you may find that you will simply fit into the “web” folder of an investor’s prospective portfolio.
There are a lot of ways you can use public relations to build credibility and appeal among your investors. Firstly, target the media that they are sure to read. These include not only business dailies and journals, but also relevant online media. Seek out speaker engagements at local events relevant to your business, regularly blog and guest post on blogs and harness social media to build a support base of fans who you can leverage as consumers.
Seek out relevant visibility
Instead of talking to anyone and everyone about your initiative, reach out to individuals and organizations who will showcase you in a credible light. You need to invest time in building credibility so that investors see there are signs that you are already a driving force in your domain or business, and can therefore deliver profitability on their investment.
In simple terms, everything you do is a sign of your ability to deliver returns on investment (ROI), so make it all count.
Create an environment of successful individuals
Not only are you ensuring that you figuratively use the glow of success to add sheen to your enterprise and personality, but you are also going to find motivation and drive.
There is a lot to learn just by listening and watching successful entrepreneurs – the way they schedule meetings, contact prospective leads, and essentially get the job done.
Know your own value
One of the biggest mistakes you can make is to undervalue yourself. Firstly, you must, after great research, discussion and dialogue, firmly become your own biggest supporter.
Secondly, it is important to invest in a good business valuation. Instead of a simple valuation-by-numbers approach, identify and work with a specialist company that offers a comprehensive business valuation. The Valuator.com.au’s business valuers Sydney is a valuable investment for this purpose. The team of Valuator.com.au’s plant and machinery valuers are already known among many manufacturing players for a valuation that can make the difference in further investment.
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