By Duncan Kingori
Are you an entrepreneur thinking about starting to look for a UAE business for sale? Well, that should be the beginning of a fantastic journey to the business world. Acquisitions are most preferred to starting from scratch since it will save you the hassle of uncertainty. There are plenty of businesses you can do. However, you might want to consider giving something different a shot this time around. How about operating an office supplies business in Dubai (private business). The niche is very promising.
Deal stream and rock.com are living testimonies that office supplies business is undoubtedly lucrative in this area. Car insurance is a business that you should consider getting into. Together with a car accident attorney, an insurance company would be a lucrative business as the need for car accident compensation rises. As you go about your daily business, you might realize the need to expand your business.
Getting the help of investors is the first thing you will think of as it is one of the best options for the growth of a company. However, there are some mistakes you might make while approaching investors that may blow away the chance of success for your business. You need to be wary of the following common mistakes.
Approaching investors that are not in your niche
As ambitious as you may be, it is also important to also respect the wishes of the investors. It is especially if you intend to find investors online. Most of them have a particular criterion: which you need to comply with. If your business is concerned with office supplies, stay away from investors who are only interested in health businesses. It may not come with too much harm, but it will be a wild goose chase. Your chances of the investors with the criteria that do not fit in your niche investing in you are negligible. It is better that you did not waste time chasing investors that you do not match their criteria and go for ones that would be interested in your business. Your chances are better there.
Omissions in the introductory email
There is no room for mistakes when you are approaching investors: especially ones who can Ibe avoided. You should not leave out any relevant information while doing the introductory email. It will be the first bar you are required to pass. What you need to do is strictly adhere to the investors’ guidelines and include everything that is required.
Why is this a mistake? Well, your chances of getting a win are by building a relationship with the investors. Do not let the call be the first time you interact. You can attend seminars or events and interact with the investors. From there it would be almost impossible for them to turn down your pitch as opposed to if you made a cold call.
Your idea lacks quality
One of the major mistakes that business owners make is pitching an idea or a business that is short of quality. Quality, according to investors means that your business or idea should be able to solve an existing solution, in a better way than the existing solution if there is one and having the right team to pull it off. As such, you should evaluate your business and see whether it will be able to answer the investors’ questions.
Letting an advisor do the pitch
Remember that you are not making an acquisition. Therefore, an advisor may not be necessary at this point. Investors will ruin the quality of your pitch and investors prefer working directly with you to add value to your business model.
You need to avoid the five mistakes while approaching an investor and you will have a higher chance of winning them.
Duncan Kingori has been in the writing profession for a decade now. He has great experience writing informative educational articles and his work has been appreciated and published in many popular publications. His education background in communication and public relations has given him a concrete base from which to approach different topics in various niches. LinkedIn, Facebook