Starting up with a new business is an uphill task and requires much planning and organizing of sources of funds in order to obtain and mobilize the factors of production. Funds pose to be major constraint in deciding on factors of production.
Venture capitalists are entrepreneurs who provide the funds necessary for kick starting a business. Their services do come for a price of course but it is worth the effort to realize your business goals. As a businessman you have to evaluate the pros and cons of options available at your disposal such as banks, financial institutions, loan creditors, venture capitalists etc.
Given below are some tips which could help you get in touch with venture capitalists:
Step 1 – Often fixing an appointment with reputable venture capitalists in itself is a tough task. You have to develop your contacts and seek people who can help you get in touch with a reliable finance capitalist.
Step 2 – Draft an eloquent executive summary of about 1 to 2 pages or prepare an impressive slide presentation stating the concept of your business.
Step 3 – Do some groundwork by identifying competent and trustworthy venture capitalists. Make a list of the same.
Step 4 – Establish direct contacts with those firms which can be approached through references given by your acquaintance. Be in touch with the respective colleague, friend or associate through email or a phone call.
Step 5 – You can also consult your family members, neighbours and other entrepreneurs to get an appointment fixed with venture capitalists.
Step 6 – Follow up with the people who are influential enough to develop your contact with venture capitalists. Send email as soon as you get a nod from these people along with your executive summary.
Step 7 – After you successfully obtain an appointment from the capitalist, try to reach the venue at least 15 minutes early.