However, by putting yourself in the shoes of your investor, you will be able to explain what you need to know to decide whether to invest in your project or not. Your mission is to argue and convince investors, not to argue or force another to see potential where you do not see it. The investment depends on many factors, some of them foreign to your own project and you as an entrepreneur. Your responsibility is to count and prepare everything that is key so that another person perceives the potential of your project and is interested in it, enough to invest.
How serious is the problem that solves the business idea
We agree that there are many projects that do not solve anything serious a priori. Detecting a good problem is the key to generating an interesting business. Sometimes the problem is just a need, an interest or simply a need to enjoy, but you should always solve a demand that exists in the customers.
Explain the history of the solution
Sticking to the purely technical aspects of a project does not add anything to the investor. But knowing the history that has led you to confront him to ask for his investment yes.
How you started, what knowledge you have, why the idea arises, what path you have traveled are data that is worth briefly telling.
What you have learned in the process you have lived until now. Learning is something highly valued by investors. If you learn improvements and avoid making mistakes of the past. Being aware of this, recognizing errors when there have been, generates empathy, confidence and provides very useful experience to bring an entrepreneurial project to fruition. Between an inexperienced entrepreneur and an experienced entrepreneur (success or failure), the investor will choose the experienced entrepreneur. Therefore, tell your experience without fear if you want to convince investors.
Show the evidence
Showing the work you have done so far, prototypes, market tests, interviews with clients, the evolution of the business model, a website or any proof that you have been working on the project, is key to giving credibility to your presentation.
A prototype shows that you have invested time, money and dedication in the project it indicates that you also believe in what you say and work to achieve it. In fact, it shows that you are going to carry out the project with the help of the investor or without it. And that generates confidence.
What makes you different?
If you are not different from other projects, you will not get investment. A different business model, an original idea, and a unique entrepreneurial history are aspects that will make your project something exceptional. Of course, a convincing and original presentation will help you to transmit that innovative component of your project.
Global market and scalable project
If your market is global and your business is scalable and you transmit the ability and passion to carry it forward, the investor will see an interesting project. Having the ambition to carry out a scalable project is not available to anyone, but something that any investor looks for in the projects in which he invests, because it will generate greater benefits.
How much do you need?
If you are going to ask for money it is a logical question: How much do you need? It is good to present a total amount, but it is better to do it in phases. What do you need, when and for what? In this way, the investor will have a clear idea about the fate of their money, the risk they run and your ability to manage it. If you were the investor and put your money, would not you worry about knowing what the entrepreneur is going to spend?
The final decision is made by people based on people
The final decision is made by people basing their criteria for entrepreneurs (people). Between two projects with similar potential, the entrepreneur is decisive. Therefore, as an entrepreneur, you must convince, be clear, concise and transparent.