Start-ups come with plenty of challenges. Sometimes the idea and the product plan could be bang on but the resources could be a problem.More often than not the problem is gaining access to funding. There are plenty of sources of raising capital for a start-up. However, you can face many challenges when you actually get down to the business of raising the capital. What are the 3 most common hurdles faced when raising funds?
Business plan not up to the mark: A hastily made business plan or one that contains errors or omissions can be an issue. When you are pitching, you must do your homework well and be absolutely clear about your business ideas, aims and how you plan to take your company forward.
Lack of Vision: You must have absolute faith in your product if you want the investor to actually go ahead and invest in your company. Investors will go with entrepreneurs who have clear vision, are articulate and have complete faith in their business plan. It is after all essentially a marketing pitch and you must be able to convince the investor about your potential to convert the business idea into reality.
Knowledge of the Market: When it comes to the markets, there are plenty of questions that need to be answered such as who your target audience is, whether your product or service fills a particular gap in the market etc. Not being able to convince your investors about these aspects may prove to be a hurdle in getting funded.
At Premier Pioneer Group, we have a team on hand that is backed by years of know-how and expertise in providing investment and management services in the UK
. It is not only about providing funds but also support and guidance when it comes to the management of your business. Get in touch with us to learn more about how you can benefit from taking us on board.