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What VCs Want
It can be called a quirk or a herd mentality but all venture capitalists head for the same set of likes. They adore software, they approve healthcare, they admire the digital media and they are not afraid to dabble in life sciences either. If your business falls into any of these sectors, you can breathe easy. It won’t be hard to find funding and finances for your small business. This seems to be a roadblock which many start ups outside these genres seem to be facing.
Some more Alluring Traits
Whether its venture capitalists, angel funds or plain investors, everyone is looking for making big money rapidly and perhaps be on the bandwagon for the next big thing like a Google, Facebook or any innovation that can make a worldwide impact. If not path breaking, investors at the least, expect your business to have the capacity to scale quickly, capture a sizable market and offer good profit margins. If your business does not have any of these traits, simply take a pivot.
Big Opportunity – The Big Draw
Does your business possess the potential for big growth ? This is something all venture capitalists evaluate with great interest in detail. You may be small business in the garage, but is there spark, is there hope, is there scope to perhaps impact the entire planet. If your idea or product has even a glimmer of this rare quality, you will have the investors knocking at your door. As such software and healthcare have always been on the radar of venture capitalists, because they can quickly span a global market but other businesses too have a good chance, all they need is to represent the big opportunity.
Know the Psyche of a VC
Looking behind the aloofness and you may catch a glimpse of what was once an entrepreneur like yourself. Perhaps who lived and worked with team as hard as you are working now. This is the very reason why he would like to see your proven track record. How you are faring now, how far can you take the business forward? This is something he will want to know about and will expect you to build a solid relationship which is mutually beneficial. When planning to use his money, that is the basic requirement you can provide.
Do you meet up with all this or is there room for realigning yourself. If you are feeling out of depth, don’t’ worry. What’s hot today maybe a bore tomorrow. But if your business meets the emerging industry trends even remotely, at any point, that’s where your focus should be to attract investment.
Image courtesy of [Stuart Miles] / FreeDigitalPhotos.net