New Business

If you have an idea for a business selling an outstanding product or service, but don’t have it operating yet, can you attract an investor and get the start up funds you need? The answer is an astounding YES!

Business Angels, also called private investors don’t necessarily need to see your business up and running. In fact, most prefer partnering with early-stage business owners especially if they can see huge growth potential.

Here is what they look for when considering an investment:

• A great idea – what is your product or service? Is there a great need for it? Is it innovative? Who are your competitors?

• A solid business plan – you need to have a comprehensive plan in place detailing all aspects of your venture. Include income and expense statements, marketing plans, mission statements, organization charts, profit projections. Make sure your plan includes data for the next 5 years. Make this as complete and professional as possible.

• Funds – How much of your own funds are you willing to invest?

• Skills and experience – Do you have past business experience? What special skills or talents do you have? What education do you have?

• Commitment – Are you 100% committed to your enterprise? Are you willing to do what it takes to make it successful?

• Flexibility – Are you prepared to accept new ideas and concepts? Are you eager to learn different ways of doing things?

• Personality Traits – Do you have entrepreneurial traits? Investors will want to see that you have self-discipline, self-mastery and self-management skills.

Some business angels are more stringent than others; some only invest in their own area of expertise. If you can show them that you have what it takes to start and maintain a business, and you have thoroughly researched your product or service, your chances of partnering with an investor will increase exponentially.

Meet with several investors and choose one you feel at ease working with. Remember that they will want a say in major business decisions, and may even require partial ownership. They are investors after all, and will be looking for a profit, like any other business venture!

One of the best websites in this regard is entrepreneurinvestornetwork.com.au, which aims at uniting angel investors looking for business investments in Australia with budding entrepreneurs in the country.Log on to the website today. You will not be disappointed.

Article Source: ArticlesBase.com - I Haven’t Actually Started My Business Yet – Can I Still Get Start-Up Capital?