To put the odds in your favor, you need to fine tune your project, lead from the very first day and then locate potential investors that grant funds in your field.

Make a Business Plan

First, clearly define the nature of your project.

1. Be ambitious but realistic:This delicate balance is the key to your success. Set your business plan over 3 years without lying about the numbers. If your projections are negative, review the background of your project rather than inflating the revenue.

2. A word of advice:Do not hesitate to divide by 2 the numbers of your assumptions. If your project is still profitable, it is rather encouraging. If not, rework on your assumptions.

3. Remember no data:Creation costs, attorney fees, supplies… From experience, the costs are often minus and resources are often increased. Be careful and find the right balance. Your accountant can help you establish your business plan. Chamber of Commerce or the Chamber of Trade can also help you or provide training.

4. Give yourself time:it is the most important step of your process.

Present Your Project

A document type presentation in Microsoft PowerPoint often has more impact than a written document in a word processor. In this 10 page document you determine:

1. The problem / need you have identified (consumer demand)
2. Your solution: The answer to the problem identified above (starting a business service, open a chain of pizza…).
3. Your business model: how the company will make money?
4. Your difference is what will determine your predictable success (technology, know-how, original…).
5. Marketing and sales: How you will make yourself known and will generate sales?
6. Your competition (Who is it? his reaction to your offer…).
7. Your team: Do you have the best team to carry out the project?
8. Your prospects of sales (here you insert the business plan done).
9. Your current situation (pending funds, funds found, patent pending, prototype created, pending administrative approval…)
10. A summary of your project and next steps.

Ideally, you should devote a page idea. Each page is logically sequenced.

Be Catchy

Train yourself to summarize your project in a few sentences. An explosive introduction arouses interest more easily than a tedious presentation. Be simple and effective allowing your audience to understand and share your goals.

An interesting exercise is the lift (Elevator Pitch): Imagine you are in an elevator at the side of an investor and you both go to the 26th floor. You have 1 minute to tell him/her about your project and secondarily to convince him. Practice this exercise very structured. Highlight the innovative points of your project. Try to differentiate yourself by highlighting your unique challenge for investors.

Target Investors

According to your profile, experience and needs, the choice of a particular type of investor is required. Their agreement and their expertise can be an argument to reassure your banker. They can also direct you to more appropriate agencies depending on your industry. These agencies are often comprised of business leaders or businessmen who decided to put some of their time and money in the service of entrepreneurs. The initial financial requirements can be fulfilled by asking your relatives, friends or your networks that can help you start your business by investing in your business. Make sure that they are well aware of only invest the money they would be willing to lose because It is often very difficult to be angry with family members or friends. The intermediaries who offer to assist you in raising funds for your business, they actually pay themselves for success, often against an equity investment