Finding investors who can support your business, particularly during the beginning, can speed up your way to success. It’s not something that can be completed in an instant. Investing is an extensive amount of planning. Before you begin to look for investment for the money, you must follow some essential steps.
Nick Spina, Founder & CEO of Ethey, a zero-waste food delivery service that Gary Vaynerchuk backs, to discover how to get investments and grow his company.
Find out what differentiates you from the rest of the field.
Spina is working to build Ethey to be an eco-friendly, zero-waste company. Everything they do supports this vision starting with packaging for products to the manufacturing facilities. Spina says it is “all products we use are recyclable, compostable, as well as consumable. As time goes on, the ice packs we offer are made from the juice, which means you can take them in with meals instead of throwing them away and then letting them leak harmful chemicals when they degrade in the landfill.”Spina did not stop in the beginning but went further and created a zero-food waste facility. There’s a 30,000-square-foot underground worm farm in which the worms consume all food scraps and then make castings of worms, which farmers can use to make fertilizer.
The extreme efforts made in sustainability and forward-looking thinking make Them stand out from other companies. It’s crucial to identify these distinct features and emphasize them and ensure that they are prominent when pitching investors.
Fully understand your clients.
If you can acknowledge your clients’ needs and wants, you will have a great product-market fit. The best product for market fit provides the chance for your business to grow exponentially. This is an essential aspect that investors seek out, and showing this in your pitch will go a long way in securing investments. Since investors are investing soon, it’s essential to convince them that demand is actual and you’ve already been able to tap into the right market; your business will be an increasingly attractive choice.
Get your pitch-perfect.
You’ll have a short time to grab an investor’s attention which is why you need to present a compelling pitch. It doesn’t require an elaborate presentation or slide deck. All you require is a solid pitch. A solid angle can stand on its own and support it with slides and other images. Your aim should be to make your pitch so compelling that it doesn’t need visuals to convince investors to invest. Spina pitched his business to Vaynerchuk on the phone. The pitch was persuasive that that phone call was all it required for Vaynerchuk to join the company as an investor and partner.
Find the best connections.
Much like all other aspects of business, it’s about making the best connections and being willing to make contact. Spina made this happen by reuniting with an employee who had not seen them for more than six years. The employee eventually had an immediate connection to Gary Vaynerchuk and was able to arrange an introduction.
Although you might not be able to locate an instant connection within your immediate circle, you may be pleasantly surprised at the people who are connected to whom in your more extensive network. You’re likely just one or two degrees from someone who could be an excellent investor. Make to climb the ladder by asking others to introduce you. Don’t hesitate to pursue your goals. Keep in mind that each contact you make and making new connections is someone else who is now aware of your business and can connect you with someone you were not aware of.
Do not hesitate to ask something.
“You don’t get what you don’t ask for,” Spina says. Spina. “Just go out and ask; you have nothing to lose.” The most dangerous scenario is to be told a resounding “no,” or worse, the best option is a significant investment in your business. In truth, being rejected isn’t harmful, but it does mean that you have to improve your pitch, be more clear on your messages or find someone more in sync with your vision. “No” is a good learning tool when you are willing to think about the motives for it.
Just get started.
“If you’ve got a dream and believe in something that you believe in, then you must pursue it, regardless of anyone who may suggest that it’s not the best idea. The only thing you need to finish is begin. You’ll be able to figure out the next steps in the process,” advises Spina. Once you have made that vault of faith and begin getting going, you’ll have more motivation and energy to keep the momentum moving.