When you want to start a business, you need to find investors who have the capital to turn your ideas into a working company. Your first meeting with potential investors is critical, and you must adequately prepare for it. Make sure you can answer these questions before the big day comes.
What Location Do You Have in Mind?
The days when every company owned a brick-and-mortar store are over. Decide whether you want to rent premises through commercial leasing La Crescenta CA or purchase a warehouse or house to serve as your primary location. You can also run your company completely remotely, especially if you’re the only employee.
What Products or Services Do You Provide?
This question may seem basic, but your investors are sure to ask about your services and products. Be prepared to discuss them in detail by coming up with names, prices, and elevator pitches for each one. Don’t forget to estimate the time and cost of production and to note potential vendors for your materials. Finally, figure out what makes your offerings better than your competitors so you can convince your investors that your company meets your target market’s needs.
What Is Your Timeframe?
How immediate are your plans for opening a business? Do you want to have your opening day in a few weeks, or do you need a year or two to finish developing your company? There’s no universal right answer, so you must determine a timeframe that works best for your budget and product development. Investors don’t want to put their capital into projects that seem rushed or unlikely to reach fulfillment, so create a concrete timeline to share with them.
By answering these questions before your first meeting with investors, you increase your chances of getting the funding you need to start your business.