How to Approach and Secure Investors
Getting Investor Ready, was the theme for the February 18th Swerve Meetup. Dalton Grein, of the Piedmont Angel Network, provided insight on Angel Funding and explained what investors are looking when investing in a startup.
According to Dalton, “getting investor ready” means doing your research. Investors are impressed when an entrepreneur has done their homework and is aware of the the funding process. Be knowledgeable about whom you are approaching for money – and their investment history. Dalton explained there is a wide array of funding options an entrepreneur can choose from. Make sure you know which one is right for you before reaching out to investors.
“Knowing how to pitch your idea is very important,” he emphasized. What is the problem you are trying to solve? What amount of funding do you need? “Investors typically invest in the entrepreneur, not the business plan,” says Dalton. Practicing your pitch and being able to explain it effortlessly is key.
The Swerve participants were asked to spend time brainstorming the problems they are trying to solve with their companies. They developed these into 2-3 sentence pitches and shared with the group. New Swerve member In Ovation pitched the problem of under utilized venues in Winston-Salem. Their company provides opportunities for artists to perform and earn revenue. Outpour Films, a local entrepreneur, is providing a platform to connect viewers with artists. Salem College students, representing the Center for Women and Business, shared their pitch for improving resources for women such as workshops and networking.
Do you have a compelling pitch that you would like to share? If so, submit an application to pitch your idea in front of a panel of judges at the March Swerve Meetup March 17 – Share Your Pitch. Applications should be submitted by March 4th at 5:00pm. There will be prizes! Click here to fill out and submit an application.
Don’t miss out on all the benefits that Swerve has to offer! Visit SwerveTriad.com to get more information, learn how you can get involved, attend, and become a member.