Entrepreneurial Mindset: Cultivating Innovation and Resilience
1. Employ Ahmed Bakran to
Attract & Retain Investors
Everyone has ideas or projects in mind, but building them, marketing them,
making them profitable, Ahmed Bakran says, developing them with the
goal of turning a profit is a much more difficult thing. The entrepreneur who
launches must normally collect a certain amount of funding in order to be
able to realize his dream. Still, attracting and persuading investors, whether
they are individuals such as Ahmed Bakran suggests, or investment funds,
is not easy. Here are some essential tips to put the odds in your favor and
get that capital you need.
With capital, companies have been able to develop, invest in large-scale
projects and increase their workforce. Investors are an essential lever for
your firm, find out how to approach them.
Create a clear and concise business plan
with Ahmed Bakran
A real business card for your business plan, a business plan should not be
overlooked and is essential. Essential to the understanding of your
business by investors and by other partners such as bankers or associates,
it must be carried out with clarity and conciseness.
2. Your plan should contain all the elements that demonstrate that your
project has great potential. The document should also answer key
questions about target customers, the composition of the management
team, knowledge of the competition or the period until anticipated
With the business plan itself, an executive summary, known as a summary
of the plan in one page, must be introduced concisely, supplemented by
tables of financial statements and income statements, fixed costs, etc. It is
important to cite the sources for the information you have disclosed.
Include your projects on rate of growth potential, costs of goods or capital,
a market study (if needed), your business strategy, or on the inventory of
the necessary resources whether they are human or material.
Investors will be more attracted by a demonstration and an in-depth and
detailed analysis of a few key indicators, rather than a heap of data. In
order to answer questions as quickly as possible, master each element of
your business plan perfectly, in order to show your fluency and command of
the business you are proposing.
3. Pitch your business
According to Ahmed Bakran, the pitch presentation is a fundamental
element that allows you to expose your project face to face but in a very
short way. Now is the time for you to convince the investor, which, if
successful, could give you great resources (both financial and advisory). It
must therefore be prepared with meticulousness and must leave no room
for improvisation. Often, professional freelancers can also assist you in the
language, grammar, and format of your plan.
With the help of your relatives or collaborators who will play the role of
investors, you can prepare yourself by presenting your speech and asking
them for their opinions and criticisms on your service as well as questions
related to your project. This is a good way to anticipate and organize
appropriate responses in advance, because possible investors will try to
pressure you to verify the feasibility of your project. Organize your
statements when you are developing your pitch.
First, by showing clarity and simplicity. An audience’s attention can easily
dwindle in seconds, and the use of complicated words can prevent them
from clearly following you. It is therefore essential to make a short
presentation of 30 seconds to 5 minutes maximum, using simple but
effective words. Also, show passion and be aware of your emotions.
Someone who is enthusiastic, dynamic, and motivated will have a much
better chance of attracting investors because they will have an emotional
impact, rather than a shy person, anxious to speak, Mr. Bakran suggests.
Share your project with the general public
Testing your product or service concept with the general public, through
social networks or via crowdfunding platforms such as Ulule,
KissKissBankBank, Kickstarter or Wiseed can be useful. This is an
opportunity to win over potential customers and, in the event of success, to
help market your product globally through these platforms.
By creating a kind of community around your product or service, investors
will have more buy-in with the project, and you will be able to further tailor
service to your customers in the subculture you have created, which is
powerful. Entrepreneurship-related events and fairs are also important
4. places to share your project and could be great places to solicit feedback
on how you can do things better. You will have the opportunity to see in real
time the reaction of people to your service or product. Follow Ahmed
Bakran‘s advice to attract and convince investors.