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Business News

Here are ways to find the right investor for your business

Investors are a lot of things, and if money is all you want from them, then try the bank. Investors are more than money.

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investor, Steps to investing, Steps to developing a growth plan for your business, Breaking down the biggest misconceptions young people have about investing , Here’s how your business can grow revenue in tough conditions (PART 1), Here are ways to find the right investor for your business, How to build up your investment knowledge, This simple advice could help solve your investment challenges 

When you’re raising capital, you may feel that you should accept any money that comes your way. Like any relationship, the wrong one can pull you in the wrong direction, whereas the right one will take you where you need to go faster, and more efficiently as part of a winning team.

Investors are a lot of things, and if money is all you want from them, then try the bank. Investors are more than money. If you want your business to really succeed and make it to that next step, you need to be strategic about whom you select to have invest in your enterprise. A lot of startups grab the first guy who offers to invest in their businesses without considering a number of reasons why they should pick one over the other.

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Rarely will an investor put money into a business without considerable due diligence, so why shouldn’t you hold them to the same scrutiny? The bottom line in selecting an investor is to take your time and make the right move for your startup and for you. After all, an investor can make or break your fledgeling startup, so pick the right one for your unique needs!

Fundraising: YES or NO?

There are two key reasons to go out and raise startup equity. Either you really need it to get to the next step, or the money is currently available at good terms and you want to capitalize in order to gain a strategic advantage. Fundraising is not a measure of success for your startup. It is a tool that you use to build a company that customers love. It should result in growth, profitability, return on capital and eventually, shareholders value. Funding is just a means, not a goal.

Finally, before diving into finding investors, ask yourself some critical questions:

  • Why are you raising money now? Are there good market conditions, or do you need the capital as you are nearing the end of your runway?
  • How will your company be perceived by investors in its current stage?
  • Do you have a compelling story to tell investors?
  • Can your business continue to thrive throughout the fundraising period and while there’s diminished focus from your side?
  • Do you have the right fundraising materials?

[READ MORE: Here’s why Visitors leave your site without buying anything)

Understand the different investment options you have

  • Private equity (PE)

PE covers a number of investment types that are usually made by private individuals or privately-owned institutions to purchase a company, fund a project or make a private investment.

  • Venture capital (VC)

VC investments are managed differently and usually designed to fund startup companies with the potential for high growth. VCs also provide startups business-planning expertise and assistance.

  • Angel investing

Angel investors are high net worth individuals who seek high returns through private investments in startup companies. They provide similar startup financing as venture capitalists in smaller amounts.

How do you choose between seed investors vs. angel investors and venture capitalists? If you need a small amount of money to get going, you’re looking for seed money. A seed investor invests tiny sums into a company during its earliest days, hoping to grab a percentage of the company’s equity before it explodes. If you need a larger investment, you’re looking for angel investment. Angel investors are typically retired businesspeople who keep an eye out for investment opportunities. Substantially higher investments tend to come only from venture capitalists.

Know what you want investors to provide for you

How involved do you want your investors to be? When meeting with potential financial partners, you’ll want to ask questions about their most recent investments—what they typically provide to companies, and their expectation of CEOs and how involved they like to be. All of these questions can help determine whether the partnership will be the best one. Other factors include their area of focus, the stage of development they invest in and their reputation.

Perfect your pitch to find the right match

Take time to think about what you want to say. How will you share your mission and attract someone who shares your vision? Start with a great pitch deck. The pitch deck is arguably the most important document you will generate in the life of your company. It is ‘the hook’ by which you will capture the attention and imagination of an investor.

Discuss how your product or service will solve a problem. Be sure to include realistic financials and market research to back up your predictions, particularly how you will generate profit and how that will flow into your investor’s pockets.

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Is my company interested in this investor?

Throughout the process of raising your funds, you will naturally find out which investor matches best with your company. But some criteria can be really important right from the start. Be careful here. When looking at this long list of investors, it might seem that you have an enormous amount of choice. By the end of this process, this can look totally different. Additionally, if you want to convince your dream investor, it will definitely be easier with another offer in your back pocket.

[READ ALSO: Here’s why visitors leave your store/website without buying anything (PART 2))

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Give investors a reason to reach out to you

As much as your company wants to find great investors, investors also want to find great companies—meaning the courtship goes both ways. So, make sure you spend some time putting yourself out there. Even if your product isn’t live, you can still generate attention for your team and your mission via thought leadership.

Now, even with the best fundraising tactics, be prepared to get turned down by investors or not hear back. Don’t let that get to you. If you don’t hear back in a week, send a quick follow up in a professional manner. After that, continue following up if and when you have news to share (e.g. a product launch, key metric that you hit, commitment from a notable investor).

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Coronavirus

COVID-19 Update in Nigeria

On the 7th of March 2021, 269 new confirmed cases and 5 deaths were recorded in Nigeria

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Covid 19 update symptops

The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 158,506 confirmed cases.

On the 7th of March 2021, 269 new confirmed cases and 5 deaths were recorded in Nigeria.

To date, 158,506 cases have been confirmed, 137,875 cases have been discharged and 1,969 deaths have been recorded in 36 states and the Federal Capital Territory.

A total of 1.54 million tests have been carried out as of March 7th, 2021 compared to 1.49 million tests a day earlier.

COVID-19 Case Updates- 7th March 2021,

  • Total Number of Cases – 158,506
  • Total Number Discharged – 137,890
  • Total Deaths – 1,969
  • Total Tests Carried out – 1,544,008

According to the NCDC, the 269 new cases are reported from 19 states- Enugu (78), Bauchi (37), Rivers (22), Imo (18), Ogun (16), FCT (15), Akwa Ibom (13), Kaduna (13), Kebbi (11), Kwara (9), Edo(7), Ekiti (6), Borno (5), Yobe(5), Kano (4) Nasarawa (3), Osun (3), Anambra (2) and Plateau (2).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 56,444, followed by Abuja (19,350), Plateau (8,944), Kaduna (8,658),  Oyo (6,766), Rivers (6,680), Edo (4,670), Ogun (4,437), Kano (3,844), Ondo (3,066), Kwara (2,962), Delta (2,582), Osun (2,457), Nasarawa (2,251), Enugu (2,156), Katsina (2,060), Gombe (2,010), Ebonyi (1,951), Anambra (1,813), Akwa Ibom (1,610), and Abia (1,588).

Imo State has recorded 1,569 cases, Borno (1,308), Bauchi (1,274), Benue (1,188), Adamawa (942), Niger (919), Taraba (863), Ekiti (834), Bayelsa (779), Sokoto (769), Jigawa (496), Kebbi (412), Cross River (334), Yobe (293), Zamfara (222), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.

Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.

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On 26th January 2021, the Federal Government announced the extension of the guidelines of phase 3 of the eased lockdown by one month following the rising cases of the coronavirus disease in the country and the expiration of phase 3 of the eased lockdown.

On 28th February 2021, the federal government confirmed that the first tranche of Covid-19 vaccines will arrive in Nigeria on Tuesday, March 2nd, 2021.

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On Tuesday, 2nd March 2021, the National Primary health Care Development Agency announced the arrival of the expected COVX Astrazeneca/Oxford covid-19 vaccines.

On Saturday, 6th March 2021, President Muhammadu Buhari and his vice, Yemi Osinbajo received vaccination against the covid-19 as the State House in Abuja.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

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Tech News

Twitter CEO auctions his first-ever tweet on Twitter, bidding at $2.5 million

Jack Dorsey is auctioning his first-ever tweet on a website that sells tweets as non-fungible tokens.

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Square buys $50 million worth of Bitcoins, Twitter warns political figures to abstain from fake, misleading statements, Has Twitter's Jack Dorsey changed the popular narrative attached to Nigerians?, Twitter forecasts future drop in revenue after milestone record in 2019 Q4 , Twitter founder, Jack Dorsey invest N2.3 million in Nigerian startup, DevCareer , Some Verified accounts may not be able to tweet, as Twitter freezes password reset to address cyberattack

Twitter CEO, Jack Dorsey is auctioning his first-ever tweet on Twitter “just setting up my twttr” on a website that sells tweets as non-fungible tokens (NFTs).

The tweet was listed for sale on ‘Valuables by Cent’ – a tweets marketplace that was launched three months ago. The tweet was first made in March 2006

The tweet received offers as high as $88,888.88 within minutes of Jack tweeting a link to the listing on” Valuables by Cent” on Friday.

Currently, bidding has reached $2.5 million (€2.1 million) indicating the potential in selling virtual objects that have been authenticated through blockchain technology.

The highest bid for the tweet — $2.5 million — came from Bridge Oracle CEO Sina Estavi. It topped cryptocurrency pioneer, Justin Sun’s $2 million bid.

The final buyer of the tweet will receive a certificate, digitally signed and verified by Jack Dorsey, as well as the metadata of the original tweet. The data will include information such as the time the tweet was posted and its text contents. Most of this information, however, is already publicly available.

According to Valuables by Cent’s terms, 95% of a tweet’s sale will go to the original creator while the remainder will go to the website.

What you should know

  • NFTs is a unique digital certificate that states who owns a photo, video, or other forms of online media.
  • Dorsey’s 15-year-old tweet is one of the most famous tweets ever on the platform.
  • Bidding had reached $2.5 million (€2.1 million) on Saturday, indicating the potential in selling virtual objects that have been authenticated through blockchain technology.
  • More people are currently bidding their tweets on the platform.

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