Each year, hundreds to thousands of meeting requests and cold emails are received from start-up founders and meeting every available entrepreneur is impossible for any business. Like many VCs (Venture Capitalists), companies recommend approaching through a trusted referral or connection rather than sending cold emails. If you’ve already established good relations with any member of the company, it’ll help in many ways.
In the present scenario, even those start-ups referred by trusted sources fail securing credible funding, however, world-class ventures who’re coherent and move with a team of experts can raise profit far greater than anticipated. Here’re four ways to ensure your start-up stands out of the crowd!
- Solve a problem with a different & better approach
Keeping the focus on customer(s) and the problem(s) you can solve for them would lead you straight to the path of success. However, your solution shouldn’t just offer improvement but innovativeness and difference from what exists; make sure it’s ten times better. It’s rare for ideas to be completely original or entirely imitative but it depends on start-ups what they choose to solve a particular problem as long as it’s different and actually works real-time.
- Always challenge your hunches
Most businesses fail because their assumptions or hunches go untested. So here’s a new start, always start with a challenge and thesis of your expectations till a plausible and optimistic outcome is attained.
Gauge what people think about your product or services, how multi-tier businesses would respond to the best features identification and do so with people belonging to different demographics. Remember, assumptions must either be proven or eliminated as fast as possible to reveal the value of your proposition.
You’ll also learn a lot about target customers from various distributors and increase your chances of success. Who knows you may even develop a commission-style and risk-shared pathway to your customers that definitely guarantees success.
- Think big, act consistently
Venture capitalists usually back individuals who, with their unique expertise can challenge the status quo. Their investment decisions are totally personal therefore, it’s best to raise capital through a social movement such as charity or anything that doesn’t harm the reputation. Only through clear communication and unique insight can you get people excited and eventually convince them for investment without any foul play.
Involve some target investors in the journey which are a great start to raising sufficient capital in a successful way. Much depends on a foundation of the start-up and vision to make a real difference in securing the funds required in taking the business to an all new level.
Many entrepreneurs are usually caught up in operational web or product development that make them forget about their primary start-up and its future which is a path to failure. Founding members articulating a bold vision and support it with real-time evidence that’s strategic provides a long-term solution and align investors are the real industrial evangelist. They also engage with a dedicated pool and talented pool which is an excellent career-boosting opportunity.
- Gather an exceptional team
Founders need inspirational and meaningful contribution for a start-up which eventually come from people at all levels. It’s possible you’ve a mission that’s big enough to stretch individuals from their current positions and take them to the horizon. The entrepreneurial team should lead by example and must be active with customers, investors and marketers for a better future. Hire people who lead with humbleness and conviction.
In the fast moving world, there isn’t enough time, resources or data for start-ups to take a firm decision slow and timely. Only competitive and a literate entrepreneurial team that can make tough choices in critical times are bound towards lasting success and sweep the market.