Common Traits of a viable business idea

Food can be amazing but the presentation is key. This is true for a lot of things in life, particularly what brought you to this page: Your business. When you’re looking to get people to give you audience and buy into your biz, you need to structure it and then package it attractively.

 

Investors look at certain things as a benchmark for what they would consider viable. Knowing this allows you to package your biz better and iron out any kinks. We spoke to the KCB Lions and searched the inter webs to come up with this playbook: 

 

Consumer need - they say the best ideas solve every day problems (Not to literally mean every day but there has to be a need). This gives the business more longevity. If childhood taught us anything, it’s that the brands we grew up with and still exist longevity is good for business. ‘Longevity’ also makes a lot of investors happy and interested.

 

Business Model – Firm up your business model because no one likes to be on shaky grounds. Skyscrapers tower cities because of a firm foundation before anything else. Treat your biz like so. Having your business model clear, concise and at your fingertips gives you an allure of focus, stability and attention to detail. (And responsibility really)

 

Financial tracking – ‘Women lie men lie; numbers don’t lie.’ And every investor knows this. You might have cooked numbers to get out of a situation once but investors can smell oblivion from three thoughts away! It is important to have your numbers in check as this could affect your investment, splitting of equity and your business’ image.

 

Find your niche - your biz needs to ooze uniqueness that makes it hard to replicate your model. This sets you apart. While there’s nothing new under the sun, you have to find that edge that makes you the Blue Band of all margarines.

 

Risk – investors know that making an investment is often in exchange of risk. There is no need investing energy trying to convince them otherwise. However, the way to an investor’s heart is to be honest about the risks and how to avert them. Identify the risks and offer recommendations on how to monitor and mitigate them.

 

What other things do you think one should factor when pursing an investor?

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