A recent study demonstrated that New York City is the second strongest place currently for startups. It is of course, also, a very competitive place to get a business going, to begin with. The result of this is that it is completely essential that a startup finds a good venture capitalist or angel investor when working on getting things going. Venture capitalists will usually be willing to invest more startup funding but at the same time, it can be equally beneficial to have multiple angel investors. Angel investors also tend to be easier to convince regarding startups.
Chris Burch lists a few steps that can be beneficial to helping a startup business get its necessary funding. Number one, keep things simple. When entering into a new and unknown situation and pitching a business to a potential investor, assume you have a very short window of time to make a good impression. Go in thinking you have about seven seconds to make your case. Second, don’t become discouraged by setbacks. Setbacks are very likely because not every potential investor is going to like what you are trying to pitch to them. Thirdly, remember that you might not have all the answers, and this is ok. It is not uncommon for an entrepreneur with a great startup idea to want to avoid suggesting they don’t know something, but the fact is, sometimes you don’t have all the answers. Fourth, don’t try to convince potential investors about your startup by using buzzwords. It is not uncommon for startup entrepreneurs to come in with the idea that buzzwords will make them come off as if they really know what they are talking about. The truth is that often, these types of phrases are simply distracting and confusing to potential investors. Investors are constantly being hit with these sorts of things endlessly and usually, when they hear this tactic, it triggers them to lose interest.
Chis Burch has a 40 plus year entrepreneurial career that stretches back to 1976 (bjtonline.com). He has invested in industries ranging from apparel and accessories to home decor and has partnered with celebrities such as Ellen DeGeneres (entrepreneur.com).
Chris is currently the CEO of the company he founded, Burch Creative Capital. The company operates under an investment philosophy that is an expression of Chris’s values as an entrepreneur. He has a great vision for new market opportunities and is a huge proponent of innovation, imagination and creativity.
Read more on https://ideamensch.com/chris-burch/