There are a number of things you can do to put yourself in the best position to access the finance you need to grow your business.
First and foremost, you need to have a robust business plan, with good forecasts, a clear understanding of your numbers, in-depth knowledge of your market and a strong articulation of what you are trying to achieve. If you are starting a new venture, you should also aim to have a ‘proof of concept’ as early as possible to clearly show investors that your product or service is working, is solving a problem, and is not simply duplicating an existing business model.
Alongside that, you need to demonstrate that yours is a credible, professional business. That will come through your social media and web presence, and how you pitch and present to potential funders.
With all the above in place, you are in a good position to start those conversations with potential investors – but the final ingredient is the tenacity and grit that is vital in the entrepreneurial journey. Many of your conversations with investors may end in rejection; but if you can take any feedback on board, make any changes you need to, and stay tenacious, then you will get the positive outcomes you need to take your business forwards.