You've perfected your sales pitch, you've read dozens of books and reports, and yet you're still not getting any investors!
Failure to acquire any outside funding can be quite disheartening to any startup team, but a change in mindset may prove to be just the change you need.
Get a better understanding of what investors are looking for in this article. Here are five qualities investors are looking for in your startup.
Above all else, potential investors are trusting you with their money. So it makes sense when you understand that the number one quality they're looking for is competency and skill.
A team needs to be competent in order to truly be successful.
Perhaps that sounds silly, but you'd be surprised at how many disorganized and unskilled startups are out there asking for money.
Demonstrate your skill as a team during your initial pitch and you're sure to get the funding you need in no time.
Even the most well-balanced team has its share of tension. That's just to be expected. But it shouldn't get in the way of how you do your jobs.
Teamwork is such an underrated skill, especially in today's litigious world where friendships are broken and bonds are shattered.
An investor wants to make sure that your startup team can function as a unit. Everyone has their own unique part to play.
Can they play their role well? Is conflict handled appropriately? As menial as they may seem, these questions are constantly going through investors' minds when they're watching how you interact as a team.
Similar to teamwork, your team needs to exercise professional communication skills. How one expresses his or her idea matters just as much as the idea itself.
Knowing when to talk -- and knowing when to stay silent, for that matter -- is vastly underrated. Try and work on your startup team's communication skills before speaking with investors.
4. Knowledge of The Market
You'd be amazed at how many would-be entrepreneurs don't take the time to prepare a market forecast in their presentation. You can learn from their mistake, however.
Come in with plenty of research and be ready to back it up at a moment's notice. You'll need a strong understanding of all facets of your market before an investor takes you seriously.
Finally, a startup team needs vision and heart.
What are your plans once you secure funding for your idea? How long will it be before you expand into other markets? What is your overall goal for this idea?
Perfect your answer to these questions, as they demonstrate that you're focused on the future. What happens in five years from now is every bit as important as what happens now.
Find Funding For Your Startup Team Today
Keep these qualities in mind next time you prepare to meet with investors. They'll no doubt take you far as well as make your team look professional.
If you're interested in connecting with potential investors, be sure to complete our entrepreneur application! It takes a moment of your time, and soon you'll be able to connect with investors all over the world.