Entrepreneurial success often demands that a business person have a standard operating procedure (SOP). This procedure is the step-by-step instruction of how and what needs to be done to push their idea, invention, product, or app towards sales and cash in the bank. It’s sales that investors want to see. This is an important representation of how.
Investors want to see market validation for your entrepreneurial invention. The steps below are a new concept to a beginner in business. This process is like riding a bike to a seasoned veteran. They know the steps to take to achieve the results you want. Being able to hook up, pick their brain and get advice from one of these veterans can turn decades into days. Seek out these idea pros and use their advice to get ahead with your product.
Experts of specific niches tend to create initial presentations to show to their database off to consumers. If they have affiliate arrangements with other successful online marketers, they get their lists to attend the event too. It’s from these initial sales that the internet online education experts fund the courses they will develop. You will want to do this for your business to prove the demand for your product using pre-orders or sales.
By getting proof of concept and initial sales, you’re essentially financing your production, and that means that you’ve now built in your customer as the investor. Being able to do this will give you the option to say “no” to the investment angels or the venture capitalists. Investors may want more than 50% of your business. This is where a Super Venture Partner™ like IdeaPros can step in. We can take you to the next level instead and try to help you get the return on your investment.
If you are launching a product, all you need is a manufacturer in place with an established minimum order quantity (MOQ). If it’s an app, you need a developer in place with an established quote to build and code everything. What’s nice is the process will give you a real feel for the market and how needed your solution is in the marketplace. Often inventors and entrepreneurs want an idea pro or a Super Venture Partner™ to partner up with, a company with people who’ve been there and done that.
Here’s the process of what a Super Venture Partner™ like IdeaPros does for their partners:
After you’ve gone through this with your ideal partner, you’ll know your marketing budget for the first run. This is what an investor wants to see to take you entrepreneurial invention seriously.
IdeaPros has the resources, experience, and tools to help you succeed at this step or any step in the entrepreneurial journey.
We partner with entrepreneurs at any stage and those who are ready to invest in the success of their idea. Apply for an interview to explore the idea of partnering together.