Gaining access to funding is one of the most crucial factors for entrepreneurial success, especially at an early stage. Capital can be raised in several ways, from using your own money to borrowing from a bank, or accepting a third-party investment to help you get your business up and running. Getting a venture capital is one of the best ways to launch your business when your company isn’t at an IPO stage or in the stock market yet. Venture capitalists offer a wealth of collaboration, investment, and other opportunities for startups, but many entrepreneurs and startups in Hong Kong don’t know how the venture capital investment process works. Here are 3 major elements that can help you to pitch your business ideas successfully:
Venture capitalists are highly selective, they are looking for startups with enormous growth potential that caters to the bigger market. All investors operate on a “Go Big or Go Home” mentality, so you'd better be going after an enormous market opportunity! You might be wondering what exactly is a "big" market? And how do you define "big" in this case? For “big”, we mean multi-billion dollars, venture capitalists want to see an outcome of $100 million net worth or more, they are not satisfied with $10 million, $25 million, or $50 million exits. Venture capitalists are here to help you grow, and a big market provides your firm with a larger room to develop. On the contrary, a small or medium-sized market may not have enough room for decent growth, therefore, satisfying an investor’s aggressive return expectation is the key to seeking venture capital.
A distinctive product or service is able to draw the investors’ attention instantly. Developing a one of a kind product is not easy, yet, its uniqueness makes it harder for competitors to replicate what you have. Investors will not only try to understand the technical capabilities of your product but also determine if the product is solving problems for potential consumers and hopefully, change the world like other revolutionary inventions did. Here are several ways to stand out:
• Product differentiation: Distinguish your product from similar offerings on the market
• Process differentiation: Provide newer and more efficient ways of solving the same problems
• Price point differentiation: Sell your product or service with a different pricing strategy
Your idea is not good enough if it is not backed up by data. Data is king when pitching your company to venture capitals, as investors love figures! Make sure you back everything up with metrics and solid data. Providing solid data can not only help them better understand your business but also instills a great degree of confidence into investors that your business is worth investing in.
The mention of team-building activities is very often met with a few eye-rolls and stifled groans. Team building activities, however, are important for companies of all sizes and structures because employees are the most valuable asset of every business. While traditional team building activities often elicit embarrassment than enthusiasm, having them done right, meaning making them fun and engaging can be the most valuable investment you make for your business. Investing in team building activities will not only help employees become more engaged and happier at work, but also nurture a culture of teamwork with greater productivity that could result in the company’s success. With that in mind, we have put together 10 of the fun and exciting team building activities and games – from indoors to outdoors and from large to small scale – that your team would love and want for more!
This month, as the world continues to partake in what is now becoming the world’s biggest work-from-home experiment, we are left facing some of the greatest enemies known to mankind - procrastination, apathy, and laziness (which we are all guilty at some point in our lives) as we try to be productive in the comfort of our home.
Looking for the best dim sum in Hong Kong’s Central district? We give you exciting new lunch spots and yum cha deals you can find in the busy neighborhood.