As a starting entrepreneur you cannot wait to develop your product or service.

But money is needed for that.

Fortunately, investors nowadays are eager to do business with you.

That is, if you know how to sell your idea to them well.

According to experts, this is the best approach.

According to economist, start-up coach and owner of Startup toppers Henk Ceha, the starting entrepreneur has it easier than ever.

"In the past, 'starter' was still a dirty word and you couldn't knock anywhere for money."

Now entrepreneurs can choose from countless investors who want to help them with financing.

That is also a pitfall, says Ceha: "Many entrepreneurs become overconfident. They ask for a large investment while less than a euro has been converted."

Raising investments starts with approaching the right investor (s) in a targeted manner.

"Don't shoot with hail, but find out what investors are paying attention to and what they have invested in before. If you do your homework very well, you will lose 95 percent."

Then focus on that 5 percent that remains, the start-up coach suggests.

Provide a product that

need to have

been

Then you go back to your product to see how you can reach this group.

"Determine your value proposition. What problem do you solve, does the customer also see this as a problem, does he want to switch to your solution and how much effort does it take the investor to help you?"

As long as you don't have this in order, nobody will work with you.

"Your product or service should be

need to have

as much as possible

instead of

nice to have

. Then investors are more likely to get involved."

"Start with a minimal workable product and show that your plan really works for the first users."

Henk Ceha, economist and start-up coach

If you have this on paper, you are not done yet.

You also have to be able to show something to the investor.

"Start with a minimal workable product and show that your plan really works for the first time users."

You can finance this start with your own money or through family and friends.

You can also apply for Early Phase Financing (VFF) through the government.

Do you discover after your research that your plan will not work in practice?

Then think about it again critically.

Ceha: "Always sit on the seat of the investor see your company from a distance and ask yourself:.

W

? Hat's in it for them

, you can also come to the conclusion that maybe you should not proceed."

Other avenues to financing

According to Sep Breukers, tax specialist, entrepreneur and author of

The Starter's Guide for Entrepreneurs

, a boarded-up financial plan is indispensable in the search for financing. "There are templates for that, I certainly recommend them. Justify how you arrived at your conclusions and ensure that your plan is economically feasible. If you can demonstrate that you are well informed and enthusiastic about your idea, you will go a long way. "

Investors are not the only way to finance, Breukers knows.

"Finding a bank that wants to help you is very difficult these days, but there are also other lenders."

Such as Qredits, an independent foundation that is financially supported by, among others, the Ministry of Economic Affairs.

Well-known banks and insurers help the foundation with lending and are coaching partners for companies.

"This lender is focused on the starter and offers good guidance and is therefore a good option for the starting entrepreneur."

“Make good agreements with those who invest through crowdfunding.

This can prevent a lot of frustration. ”

Sep Breukers, tax specialist and author

Start-ups in the tech sector can often make use of government credits, regional funds and various innovation programs.

"If you are in a different sector, crowdfunding can also be an option. It often involves small investments, for which you can also invite friends and family. But make good agreements with those who invest through crowdfunding. This can be a lot. avoid frustration. "

Also keep in mind that crowdfunding involves loans, says start-up coach Ceha.

You must be able to repay it.

"But if you start from scratch and the amount you ask is not very high, crowdfunding is a good way."