Those investor become a nice person who ask these six questions before investing in the business. The questions, by [url=https://www.imdb.com/name/nm10534786/]Rami Beracha[/url], are given below:
[ul][li]What is your project?[/li][li]How and for whom do you create value?[/li][li]What is your competition and how do you distinguish yourself from it?[/li][li]What is your business model?[/li][li]Who is involved with you to create results?[/li][li]Why are you the right person to do it? [/li][/ul][b]
1. What is your project?
[/b]Whether they are investors or customers, people do not want to know what you are doing. They want to know what you are doing [font=Arial, sans-serif]for your customers[/font]. Be specific, be concise. Describe in a sentence of ten words or less the impact you create for your target client. Aim to trigger a "WOW" reaction in the person who hears it. Practice again and again and again until you create a darkening phrase. The quality of this introductory sentence will determine the success or otherwise of your presentation. Avoid the trap of making long mission statements or describing your product or technology with jargon.
[b]2. How and for whom do you create value?
[/b]What is your "value proposition"? Your value proposition is a targeted mechanism that targets a specific customer to create a unique effect that meets a need or desire that is of primary importance to the customer at this time. How do you create this effect? Do you target a problem that the customer is experiencing, or do you see an opportunity to provide something of value? How is your offer unique? Why would your customer come back to buy from you? Avoid false motives of the customer, such as: "cost reduction" (only a temporary benefit) or "increased profit margin" (which depends on too many criteria over which you have no control).
If you can have the support of potential customers, even at the beginning of the project, it will give you a lot more weight. Market surveys are not worth much because there is no commitment on the part of respondents. Letters of intent or other evidence of interest from specific customers (especially if you sell to businesses) are worth their weight in gold.
[b]3. What is your competition and how do you distinguish yourself from it?
[/b]Whatever the originality of your idea, you can bet that at least one other person in the world is working on the same idea as you. Or if it's an offer that does not exist at the moment, your target customers will manage to continue without the help of your offer. So, look very broadly towards your direct competition and especially your indirect competition:
- What are some alternative ways that your customers can achieve results similar to what you offer? (The alternatives may be more expensive or less useful than your offer, but these means are still competitive for you);
- What are some companies or technologies that could eliminate the demand for your offer, in the short term or in the long term?
- How can you be blocked by new technologies, local or national legislation, the economy, the environment, the evolution of the market and your customers?
The more specific and realistic you are about the potential difficulties, the more you are able to communicate to a potential investor that you have your feet on the ground and that you have the confidence to overcome these difficulties.
[b]4. What is your business model?
[/b]How do you generate income? Where are the revenues and profits created in your company? Describe the operation of your value generation mechanism. Look for a "secret sauce": a process or other asset that sets you apart. The more your "secret sauce" is protected and difficult to duplicate, the more you will be protected from imitators.
How will you size your business to grow? Look at what impact the evolution of your market will have on your business model. Sales can grow in a growing market, but are you able to grow faster than this natural growth? How can you ensure growth if your market suddenly becomes declining, temporary or permanent?
[b]5. Who is involved with you to create results?
[/b]Your partnership strategy is the key to successful execution. Your partners can give you the leverage you need to create results quickly. What resources (team-mates, employees, associates, and partners) do you have at the moment, and what are the positions and roles to be filled? How much of the work will be done inside your team, and what tasks will be outsourced? If your project is expanding, where will you find the necessary human resources?
[b]6. Why are you the right person to do it?
[/b][font=Arial, sans-serif]What is your motivation to start and run this business? How are you committed to its success? How does this project align with your talents, abilities, skills and passions? When things get tough (and make sure that happens), are you able to stay at the helm of this project to ensure success? In the end, a fundraiser does not put money on your project or your business, but on you.
[/font][b]7. How will you coordinate the work?
[/b]A very important and often neglected element is the effect of the "tribe". How can you create a community of interest around your business? Whether you're selling to individuals or businesses, a passionate social network about what you do can become your most important spokesperson? Almost all successful companies have a community element that becomes a source of information and support.[font=Arial, sans-serif]
[/font]You can read more about investors and especially about [url=https://en.everybodywiki.com/Rami_Beracha]Rami Beracha[/url]- who is one of the most experiences investors in Israel on [url=http://ramiberacha.com/]his website[/url].
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