This must be the place to invest my money in; says the Investor
Do you know that Investors do not only bet on your idea they also bet on you.
Before any organization that provide finance to small businesses can decide to inject cash on your business, they will first try to find out if you are a winner or a looser. Winners are people who will get what they want regardless of the obstacles on their way.
Below are the four personal traits that Investors look for before they can invest in your business.
Are you passionate about your business idea? Do you wake up thinking about your business and you fall asleep thinking about it. Believe me, within the first five minutes of the interview with an investor they can see how passionate you are about your idea. It is simple to spot passion. A passionate person make a commitment to themselves not to the business. That is what the investors want. I always say this “a passionate entrepreneur is unstoppable.” Investors want someone who will stop at nothing to grow their money.
They want to know if you trust your idea. When you trust your idea you will leave your secured job and run your business even before it start making money. If you trust your idea investors will trust you with their money therefore they will invest in your business without hesitation. They know that you are desperately hungry for success and their money is in the right hands
If you are still working full time and trusting other people to run your business no investor will lend you money. One investor said this to me. “We only help serious entrepreneurs. The fact that you are still working full time confirms that you don’t trust that your business will make money. Who will lend money to a business that is not trusted by its owner?”
That was a mirror in my face. Plain truth.
You are going to hit obstacles no matter how smart you are. If you are a type of person who get demoralized easily lenders will avoid funding your business. Will power and determination motivates an entrepreneur to work hard and stick to the goals. This is what investors look for in an entrepreneur.
I know and I remember my post never ever give up on your dream. Of cause you don’t have to give up on your dream but it is also smart not to be glued to the dream that has no vision. The world of business is unpredictable. You need to read the signs, take advice and modify your approach as you go along. This sometimes means giving up on your dream and pursuing reality. Lenders don’t like to leave their money in the hands of inflexible people. Don’t be obsessed with doing things the way they have been done. Have a passion to change things even if it means cutting through the red tape.
If you want to get a green light to funding your idea, remember these four funding secrets next time you approach a Lending Institution.