If you’re looking to boost your finances when starting a business or when growing a business, the bank might come to mind first. It is true that many banks may be willing to give you a loan, but that doesn’t mean it’s your only option.
Whether you want to avoid the bank altogether, or you’re having a hard time getting them to give you a loan, there’s no need to give up yet. There are many other places you can look when you’re searching for investors to grow your business.
Use Technology to Your Advantage
It’s easier than you think to find investors. All you have to do is start giving people a call! However, that doesn’t mean you should pick up the phone and start dialing random numbers. If you do, you’ll just end up wasting your time.
Instead, use technology to your advantage when deciding who to call. For example, real estate fund managers can use a family offices database to learn about the people they contact ahead of time. With this kind of technology, they can learn details about the businesses that can reveal whether they would be interested in a real estate opportunity or not.
It’s not just real estate professionals that can benefit from technology that uncovers information about their target investors. Technology can also uncover the types of investments family offices have made in the past, which can reveal whether they would be interested in investing in your business too.
Finding investors is easier than ever because we have access to the internet when others just a few decades ago didn’t. You just have to know where to look.
A few ideas for places to look when finding investors include:
Social media, like Facebook
Crowdfunding sites are an especially popular way to raise funds for a business venture. Websites, like Kickstarter and Indiegogo, allow anyone to raise money for nearly any purpose you can imagine. They have the added benefit of potentially going viral. Many people share profiles on these pages, causing them to raise much more money than they initially asked for.
Contact Your Local Business School
The internet is a great resource, but you can waste many hours combing through websites and profiles searching for investors. Save a little time by reaching out to your local business school instead.
Not only might they have courses that can teach you more about the investment community, they are also likely to have an extensive network of professional contacts that may be able to help you with your latest investment venture.
Don’t be afraid to reach out to your alma mater as well. They may have free programs in place for previous graduates that will help you find investors.
Find a Local Entrepreneurial Community
If you didn’t attend a business school, or you’re struggling to find one in your area that can help, consider turning to local communities of entrepreneurs instead.
Entrepreneurial communities come with many benefits. Not only are they a great source of support, they can also provide you with a large network of peers, some of which may be willing to invest in your business. If they aren’t directly interested in investing in your business, they may be able to refer you to someone who might be.
Just make sure you aren’t just there to look for investors before ditching the group. Strive to make personal connections and participate in events for the long-term. By making real, personal connections, you can increase your chances of getting investments now and in the future.
Reach out to Mentors
Chances are, you wouldn’t be where you are today without the help from at least one other person or organization. If they were willing to help you when you were first getting started, you can be fairly sure they would like to help you now.
Mentorships are important for both the mentor and mentee. You can bet that your mentor would love for you to check-in, and if they have the ability to provide you with industry connections that might result in an investment, they will likely be happy to provide you with those contacts.
There’s nothing wrong with heading to the bank if you need some capital for your business, but don’t feel like it’s your only option. With the ideas on this list, you can find the investments you need from a variety of sources that will keep your business on the right path.