Fundraising for your startup or small business is one of the major hurdles Entrepreneurs may face throughout their journey. Without funds in place, even the savviest startups have difficulty developing products, testing the market, and generating investor interest.
According to an article written by Adam Millsap in Forbes, Small businesses are a big part of the economy. Prior to Covid, small businesses accounted for almost half of all jobs. Now, they are the ones struggling. One survey found that in the early stages of the pandemic, 45% of small businesses had temporarily closed. The same survey found that small businesses now, more than ever, low on cash.
Opportunity Network is a safe business environment that simplifies deal sourcing for Chief Executives and Investors. The platform provides every reliable CEO with equal access to business opportunities.
Opportunity Network combines cutting edge algorithms and a dedicated concierge service to make finding the right business partner, locally and globally, easy. Find out more about the world's largest deal market here.
On November 4, 2020, the platform released a new membership tier, LITE, ideal for leaders of startups and small companies with over USD 250k in revenues or funding. The platform will provide support to small and growing businesses that are suffering under the economic strain created by the pandemic. With relief funding from governments and banks primarily channeled towards larger corporations, SMEs are facing an estimated $5.2 trillion in unmet financing.
The new LITE membership will provide complimentary access to small businesses and growing companies, in an effort to limit any financial access barriers.
Are you struggling to unlock potential fundraising opportunities for your startup or small business? Here are a few considerations that can help your business stand out.
Outline funding goals and objectives
One of the first steps in the fundraising process is outlining the business goals and objectives. Typically, these goals and objectives are outlined within a larger business plan and/or pitch deck. These tools serve as the roadmap for scaling fast, staying on track, and achieving goals. Let investors see first-hand how their funds will contribute to the success of your organization. The most successful startups go into great detail when it comes to resource allocation. Don’t worry - your hard work will pay off.
Create a strong company culture
Happier employees are more productive employees. That’s just one reason why establishing a good company culture is important for any business that wishes to succeed. According to research, companies with a well-developed culture outperform their competition by 20 percent. It’s incredible what positivity in the workplace can do.
Without investment into your team, your business will suffer. When all is said and done, financial capital is attracted to businesses that attract the right human capital.
Practice your elevator pitch
Gather all of your documents, near and far, and practice pitching on why your business is a worthwhile investment. Your elevator speech is a 30 second or less summary of what you do. It should explain everything someone would need to know when they first meet you. The goals of your elevator speech are to be able to succinctly describe your idea or product and get the other person interested. Investors are looking for someone to believe in. Use your passion for your business to inspire.
Consistency in performance
Most investors like to see a rhythm of consistency in performance. Rather than excess. Oftentimes, smaller businesses in a rush to ‘win’ could overreach themselves and find that they are unable to execute because of resource constraints. It’s really a balancing act. Doing what the business does well, with consistency, will give investors a higher level of comfort.
To accelerate your startup or small business funding process, it’s important to lead your business with the right connections. Become a LITE member of Opportunity Network today and unlock a world of potential.