Whether based in Silicon Valley, Nebraska, or New York City, all startups face the same issues: finding investors to fund their business. While financing a new venture can prove challenging, taking the right steps to prepare for an investor meeting will lead the road to success. Make sure to follow a few of these fundamentals to leave the right impression and secure funding for your startup.
Plan to Meet in a Professional Space
A successful investor meeting starts with choosing the right space and creating a professional atmosphere. Renting a permanent workspace can cost a lot of overhead, especially for startups lacking the funds, to begin with.
Still, when it comes to meeting with an investor, you want to give the right first impression. Meeting in a public place like a restaurant or cafe doesn’t look as professional and could get interrupted often by noises or people. Meanwhile, a shared workspace or incubator could present the same kind of distractions and look less presentable to investors.
Instead, hourly rate business meeting rooms give startups an affordable option for a private meeting. Companies like Meet In Place offer a range of spaces to host and impress investors. Salon-style rooms, equipped with a monitor and amenities, provide a more relaxed environment to host smaller groups. Meanwhile, classic conference rooms create a professional atmosphere in a quiet space with the right equipment to present your business strategy. Spending a little to host investors in a private room gives you control of the situation and leaves a better impression.
Treat Investors like Guests
Giving off the impression of a successful startup means paying attention to the details. Make sure to choose a room with enough comfortable chairs for everyone to sit and feel relaxed. Be a good host and make sure investors have access to food or beverages. Many private conference rooms available for rent come with amenities like espresso machines and sparkling water so that everyone has access to refreshments during the meetings. Making everyone feel comfortable gives the impression of a successful, professional business that treats colleagues and customers with good service and hospitality.
Come Prepared and Take Notes
Taking notes helps aids in every step of the investor meeting and improves your strategy to secure funding. Before the meeting, you may find it useful to have notes prepared for your pitch detailing what makes your company a good investment. During the meeting, potential investors will likely have questions. Include some notes that may help in answering expected questions such as market statistics and industry projections relevant to your sector.
Note taking can also prove beneficial after the meeting. Jot down some important points mentioned during the meeting, what excited them, the names of each person, curveball questions, and other notable information. These can help you follow-up later with personal thank you notes. You can also learn from the meeting and refine your pitch for the next investor.
Admit When You Don’t Know
Any relationship, whether business or otherwise, is based on trust. If the investor asks a question that you don’t know the answer to, don’t lie and make up information. Most people can see through dishonesty. Instead, admit when you don’t know, and say you’ll get back to them. After all, if they decide to give you money, they’ll need to know they can trust you moving forward.
No one said finding investors to fund your startup would be easy. However, with the right strategy and perseverance, you can put your best foot forward to secure enough investors to grow your business. Remember to present yourself in a professional manner, maintain an honest dialogue, and always learn from mistakes to ensure the future success of your enterprise.