What to do to raise capital for a business
With the coming of technology, there has been a significant rise in the number of startups in Zimbabwe. With the government promising to invest in such businesses, here are a few tips to help get funding if you have a business plan of that magnitude.
You must prepare properly
Raising funds for your business requires primarily mental preparation. It is very important that you be realistic and set expectations within what is objectively possible.
You must also be prepared for rejection, and to take this as a learning opportunity rather than defeat. The right investors for sure will see the potential of your venture, so don’t despair.
Focus on generating traction
Something that attracts investors is the popularity that you have gained in the market with your product or service prototype. So it’s a good idea to focus part of your effort on building a potential customer base from the start.
This can show investors the potential your company has, and all that you can achieve with the appropriate capital.
Lean on good advisors
Having the support and guidance of a good advisor is of great advantage for you. Look for professionals who believe in your endeavour, and stay in touch with them whenever possible.
Great advisors can provide you with unrivalled business guidance, and invaluable guidance on how to approach investors.
Define a good profile on financing platforms
When registering your profile in the different financing platforms, you must define your profile completely and perfectly.
Remember that investors will not only see your business proposal, they will also see who they will partner with.
Make sure to record all your experience, you should even record other ventures that have not been successful. All experience is valid.