Business is any activity or enterprise entered into, for profit. Engaging in business activities by the people in a country helps that country’s economy to grow, as well as attracts investors wanting to be a part of your success.
Business is an art which you have to get yourself acquainted with, once you have decided on that route, as you must have developed an inner passion for it.
If you have not been privileged to get investors for your business in Nigeria, or in Africa, then, you have not structured your business in a way that will attract investors. For you to get investors for your business, you need to be determined, focused, goal oriented, persevere, patient and willing to learn how things are done.
There are investors around, who will be willing to invest in your business to make your dreams come true if your business is well structured to take them on.
Who Are Investors?
Investors are people, who are financially buoyant enough to allocate capital, (money and resources), either for a business initiated by them, or, for other people’s business, with a view to making profits from the business in future. Your investors can be your rich boss, uncle, aunty and every other businessman close to you.
You need to be aware that, each investor has a specific area of interest. While one is interested in Pig farming, the other might be interested in poultry farming.
Criteria For Getting An Investor
- Have a good business plan: A good business plan helps your prospective investor to take your deal seriously. It shows dedication to what you are doing and a desire to be the best at what you do.
- Have your business proposal: A business proposal gives an estimation of your budget. How much you need, to execute your business plan. Your budget should also show how your investors will get a good return on their investments.
- Outline a proven marketing plan: Outline a marketing plan, showing the effectiveness of your business idea. How well will it work, when you officially launch your business plan?
- Adopt an interesting and attractive business name: Your business name is also a marketing strategy to sell your products and services. It must be simple, short and easy for anybody to understand.
Evaluate the SWOT analysis
of your business: You will need to evaluate the strength of your business and its weaknesses, as well as the opportunities and threats to it. The strength of your business includes what you do well in your business and the advantages that you have, over competitors, etc.
The weaknesses of your business include the things you are not doing well in, but can improve on, in your business and what things that could affect your business negatively that you should be avoiding.
The opportunities that your business can take advantage of, such as changes in technology and changes in government policies, what makes your product and services different from others.
The threats to your business include internal or internal actions that can adversely affect your business, such as, changes in your products and what your competitors are doing.
Having fulfilled these criteria, no doubt, the next investor you talk to, will be willing to invest in your business, knowing how prepared you are for the marketing world of business.