The dragons den - raising finance
Raising finance is a notoriously difficult thing to do. Why does it have to be so difficult? How good is your selling? If you pitch your message with passion and it is supported by a strong proposition then your chances of success will increase.
Some thoughts:
Remember raising finance is like trying to sell a product or service
The banks and VC’s are not there to create have a go hero’s they are there to generate a return on stakeholder funds
To raise finance you must present a sound case that leaves all parties feeling comfortable and secure
Your proposition must be articulated both verbally and in writing with total clarity
Remember the value proposition is key to raising finance – get to the point quick and be passionate about what you do
Financial institutions will look for a robust management team supported by a well thought through business model that demonstrates a return
If you can't articulate it clearly then don’t be surprised if you don’t get the funding
Overcomplicated strategies and business models need to be simplified
Research the financial institution you are visiting and be clear on the buttons you need to press
Remember, raising finance is a selling job, many organisations fail to raise finance because they can't clearly articulate what they want. Many great ideas fail to get to market because of this!