If you want to succeed as an entrepreneur, know that you face some daunting statistics. For instance, Small Business Trends points out that 82% of business failures can be attributed to poor cash management and poor understanding of cash flow. That's because it's common for budding entrepreneurs to underestimate the money they need to launch and run a business. Eventually, this forces them to halt operations, way before they even have a fair chance at succeeding.
To keep your business from experiencing the same fate, one of the things you can do is leverage the technologies available to you — right from the fundraising stage. Here are some of the ways you can make the most of the internet for your fundraising campaigns:
Connect with investors through digital marketing
During your business’s infancy, you would have to market not just the products or services you are offering, but also the very business you are trying to build. This is where the right utilization of digital marketing strategies can come in handy.
To turn your business into something that would pique the interest of investors, one of the things you can do is leverage the wealth of data available on social media sites. Get to know potential investors through their social media accounts. Try to learn where they are from, who they are, the causes they support, the way they speak, and the hobbies that interest them. London-based digital marketing agency Ayima stresses the importance of a data-focused approach that mixes creative expertise and technology — and it is through these that you can craft your overall digital marketing strategy that resonates well with potential donors and investors.
Join a mentoring program
Now that distance learning is the norm and young entrepreneurs are being greatly encouraged to develop better business acumen, online mentoring programs are getting more and more common. For startup owners like you, these programs can translate to a great networking opportunity.
As funding specialist Ron Flavin emphasized in an article on CIO, programs like these connect novice entrepreneurs with experts and established names that can either fund your business or refer you to someone who can. What’s even better is that programs like these can also provide you access to valuable tools, resources, and additional expertise — all of which can help place your startup in a strong position to get funded. Some local examples of mentoring programs that you might want to look into are the Westerwelle YoungFounders Programme, Entrepreneur First, and Techstars Berlin Accelerator.
Maximise graphic design platforms in creating pitch decks
As presentations and pitches move into the virtual space, it is becoming increasingly important for organizations to churn out quality pitch decks. After all, pitch decks are more than just a collection of slides — they are significant tools that can establish an organization's identity and convey its core message. More than anything else, carefully made presentations can engage donors by piquing their interest and enticing them into working with your institution.
Aside from being compelling, clear, and concise, pitch decks should also be pleasing to the eyes. This is where graphic design platforms that have Base Templates like Figma can come in handy. Such a design tool will not only make the creation of pitch decks seamless and easy, as Figma can also enable real-time collaboration with your co-workers, thereby saving you time and increasing your productivity.
The article was written by Alice Dawson
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