Funding is essential for any business to grow but trying to raise startup funds can prove to be tricky especially if you don’t know how to get investment.
To help you maximise your business success, you need to know where you are and where you are going in relation to funding.
Knowing what investment stage you’re currently at will impact how you move forward.
Each stage has its own requirements and this will affect where and how you receive funding.
The next step is knowing exactly what you wish to use the capital for – understanding the level your business currently resides at will give you a clearer picture of where you need to invest in.
For example, if your startup is still in the exploration stage, then your funding will go towards further defining your concept, compared to the launch stage where you can think about crowdfunding.
Your credibility with investors is also paramount, so you need to understand your audience.
Make sure you target the right investors and ask for a suitable amount. Asking for the wrong amount of investment can negatively impact your prospect.
Long-term success relies on knowing where your business currently stands, understanding your investors, and getting the right funding at the right time.
In this short video, Luke Lang (Co-founder – Crowdcube), Jenny Tooth (CEO – UK Business Angels Association), Dr. Graham Oakes (Founder – Upside Energy) and Don Spalinger (Director – Research & Innovation Services, University of Southampton), offer some detailed tips on startup funding stages: