Three key steps on the road to securing more investment for your business.
If you’ve made a lot of investment pitches but you’ve had limited success, it’s important to take a step back and consider what you could be doing better. What would make others see your business as more of an investible proposition?
There’s no one easy answer to that question, but here are three key points that you need to consider.
Understand: You’ve likely spent years developing your product, and you are undoubtedly the expert on how it works, but have you evaluated the target markets for your product in sufficient detail? Do you really understand the needs of those markets and how your product will increase value for prospective customers and your business? How does your development plan reflect your understanding of the target markets and have you estimated the size of the prize for your business and your investors?
Translate: Developers of new technologies can have a tendency to focus too much on technology features when selling their ideas. Those features are of course important, but in any pitch you need to show that you have determined the customer benefits that your product can deliver. To do this effectively you need to translate your ideas into the language of potential customers: what would you want them to say about your product?
Navigate: It may seem some way off, but a potential investor will want to know that you have considered the potential routes to market for your product. Will you sell directly to customers or via channel partners? How will you select partners and how will your choices impact your profitability?
Some of these considerations may seem overwhelming at first, and that’s where an experienced partner can be invaluable. To learn more on how Catalytica can help you to translate, understand and navigate your way to success, please get in touch at value@catalyticagroup.com.
