Should I hire a startup fundraising advisor?
Growth for your start-up: expand your company and find investors
There is no expressway on the way to success. This wisdom also applies to founders of start-ups. Exceptionally good products and services are a good place to start. To that Growth in a start-up To drive it forward successfully, however, you also need a good marketing and sales strategy as well as capital. If you cannot raise sufficient equity, you also have to look for investors. Nonetheless, in principle every founder can become a successful start-upper if he addresses the crucial issues in the right order.
Foundation for later success
1. Develop a clear and precise business plan
Nobody will believe in your business or support you financially until you can come up with a business plan. One of the most common reasons preventing growth in a start-up is a lack of strategy. A service or product idea alone is not enough.
A detailed business plan, which includes all market-relevant factors, helps you to pursue your strategy successfully and is essential to find potential investors for your business idea. Without the necessary capital, it will be difficult to get your start-up on a growth path.
In addition to investors who support you financially, the knowledge and experience of other companies are also an absolute asset in the growth phase of your start-up. Make an effort to establish contacts with other companies and founders in order to benefit from their know-how. There are always opportunities to network with experts from your industry.
To do this, you should stay active on specialized online forums or social media. So you can quickly get onegood network build up that can give you tips. Talking to like-minded people helps both sides and is an easy opportunity for you to seize.
3. Set up a website and social media accounts
In order to make your start-up better known and to promote its growth, you have to be present on the internet. In today's business world, a website and social media accounts are a must.
The Online presence is a plus point for your start-up for several reasons: For example, potential customers can get an idea of products and services without having to contact you directly. If you write regularly about topics that are relevant to your target group, you will also almost automatically attract new customers. Your audience will then increase thanks to higher rankings on search engines like Google.
4. Get marketing rolling
The website and social media channels for your start-up alone will not be enough for the growth of the company. There are more to build your brand name and adequately advertise your products and services Marketing and sales activities necessary.
So put yourself in the shoes of your target group and think about where and with which ones Marketing measures You can best reach them.
5. Generate traffic and make sales
Despite a mature marketing strategy, you shouldn't expect too much growth for your start-up: Your sales won't shoot through the roof right away, but in the best case will increase continuously. Ensure sufficient traffic with constantly new content and support the findability of your online presence with regular SEO measures. Those who do not know enough about this can turn to SEO specialists who, with the help of relevant keywords, will ensure the growth of your traffic, your turnover and thus the growth of your start-up.
Find investors: 3 ideas for your search
As soon as you have implemented the strategies described above, the first step towards growth in your start-up has been taken. At the same time, you are well prepared for the search for investors who are ready to finance the further growth of your start-up. As a founder, you will usually have to rely on investors in order to continue to grow and increase the liquidity of your start-up. There are a number of ways to find investors. Here we introduce you to three of the possibilities.
1. Crowdfunding and fundraising
Crowdfunding or fundraising are popular ways to finance the early stages of startups. Thanks to these options, in principle anyone can do so with a comparatively small contributioninvest in the growth of your start-up. Platforms such as crowdfunding, Kickstarter or similar do not guarantee success, but they are an interesting alternative to traditional financing options such as those from banks.
2. Friends and acquaintances
Probably everyone has at least one friend who has the necessary money to finance your company. This can lead to a partnership that is profitable for both sides. You will receive the financial means to drive growth in your start-up. If successful, your friend will benefit from the agreed rate of return. Depending on which conditions you agree on, friends and acquaintances offer you the opportunity to get capital on comparatively favorable conditions. Of course, you don't get this money for free either: The borrowed money is repaid with reasonable interest. Accordingly, despite friendship, it is advisable to draw up a precise written contract for the loan.
3. Incubators and venture capital companies
If you cannot get the money you need to grow your start-up through personal connections, you can still get offers from specialized companies such as incubators and Venture capital company for theStart-up funding. Here is a selection of the companies that can help with start-up funding:
- Berlin Ventures
- German Start-ups Group
- Seven Ventures
If you are considering this financing option, it is particularly important to work with a venture capital companyBusiness plan absolutely necessary. After all, professional investors only finance start-ups that present themselves as equally professional partners. You expect precise plans for the growth of your start-up and the highest possible potential for success for your investment.
Do you need help managing your start-up?
As the founder of a start-up, there are numerous tasks waiting for you. Unfortunately, you cannot only take care of the further development of your offer as well as marketing and sales, but are also responsible for finances, accounting and taxes. Financial service providers like Penta can help you with this work with their online business account. Support with bookkeeping or handling your cash flow gives you the freedom to continue to take care of the growth of your start-up.
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