The best way will depend on where you are doing the business and seeking investors. There are many complications with that. If you're seeking investors in Africa they likely have their own ways of doing things; then do that. I wouldn't even pretend to know whether a serious US investor could or would back an overseas startup, but if they did it would probably require demonstration of a proven market, I.e. you'd have to sell some first. Despite TV shows, serious money no longer goes for ideas that are still just ideas.
ik would love to support you and please take a look at blog for a basic template to inspire your potential business partner.
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Please let me know if it was useful to you?!
with entrepreneurial regards, Bart Jenezon
Every time you ask for money, you need to consider what is in it for them (WIIFT), and how would your proposal help them. Of course you are asking for money from a potential investor, so they have to be interested in how much return will they get, and how would you be able to pay them back. There should be no difference for a business loan if you're asking a family member, a childhood friend, or a bank. If you need the money for a business it should be treated as a business. I have one quick article with some other tips that you can read here http://wp.me/p3vX7l-2Y
The first thing you need to do is develop a business plan to insure that you have addressed all the possible questions an investor will need to know. Second, once you have your business plan done then you must work on a clear, concise, and simple presentation of your value proposition i.e. what is better, faster, cheaper, about your new mobile technology. You may also want to get: Guidebook to Planning - A Common Sense Approach, available on Amazon.
Real Estate has location, location, location. Investing has ROI, ROI, ROI. There is no other line beyond the bottom line if you aren't saving the planet.
The top three reasons Angel's invest in a business are
1. A need to have fun
2. A desire to give something back
Make sure you can articulate what your business is about and that an investor will have a great time if they choose to get involved.
You should use business plan on Line , like business in Box .com , or live business Plan
Jambo Violet, First of all I would like to wish you good luck on every step of this process. Trust me you need it. I have gone through the answers and everything that you need to write on piece of paper is there. However I would like to share my experience with you when I was doing the same not so long ago.
The Exit Strategy: I met approximately 50+ investors and all of them had one common question, "What is your Exit Strategy?". When you go for an outside investment, the investor will make money only when you sell the business. Investors are not interested in the dividends. They want to get 5 times the money they gave you in 3-5 years (unless your business has the potential to become Google or Microsoft).
Choice of Investor: This is really important. I recommend do not follow every investor because they love to invest in the sector that they know the best. This is common sense. Also this will save your time as well.
VC/Investor vs Crowd Funding Platforms: Now a days we can raise money from a group of small investors through crowd funding platforms. I recommend this should be your last option if you tech product is for B2B. In my opinion you always need someone to guide you and help you in growing the company. When you go to VCs and sole investors usually they are in a better position to help you or they can get you in touch with some relevant person through their personal network.
Assuming that you want to capture the Kenyan/East African market, I think you have good potential there. I have worked with Safaricom in Nairobi and I know they are always keen to offer new services to their customers.
Please be ready for a tiring and length process. Writing a business plan is an iterative process. I would recommend that you produce the first version asap and discuss it with some investor. Incorporate their feedback in the plan and show it to the next investor and so on. You will feel that with every run you will also become clearer about your own business! And please do not feel dejected when investors say no to you. In UK/London market, investors are investing in 1 out of 1500 business ideas that they come across. Good luck!
Hello. The key is to have a business plan that lays out what you want to do. It should start with a one line description of what you want to do. It should have a financial model that includes expected expenses, revenue and profit. It should also include why you are uniquely qualified for this business - what makes you better than anyone else. There is a lot more to it, but those are the basics.
Your presentation should include a product overview as well as the problem that it solves. You will also want copies of patents and/or patent pending; information as to target demographic, product market, and competition; cost to make the product vs.retail; sales figures since inception; how you plan to market the product; and how you plan to pay back the money.
This may sound silly, but you may want to watch Shark Tank. You will have the opportunity to observe the way business owners deliver presentations to investors as well as the types of questions investors will ask you during your presentation.