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How To Approach Investors For Funding: The Best Tips For You

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approach investors for funding

How To Approach Investors For Funding: The Best Tips For You

approach investors for funding

There are smart and effective ways for you to approach investors for funding your startup or business venture. When you are in search of capital to fund your business, it is always natural for you to want it done as fast as possible. However, identifying and approaching the right investor needs proper planning and process. Sending quick emails to dozens of investors will be counterproductive. 

Also read: How to build your business from scratch

You need to know that the average investor receives tens of pitches each month regarding business funding proposals. There are effective ways to approach investors for funding, and you need to understand how it works. Over the years, in my experience in the business environment, there are four proven means to get this done. Now, let us get down to business and consider these effective tips on the best ways to approach investors for funding. 

Smart Ways To Approach Investors For Funding

  •      Ensure you get introduced by a trusted source

You don’t rashly walk up to an investor that you haven’t had a business transaction in the past and start seeking for funding. Before you approach any investor for funding, you need to do your homework on the investor. Identify who holds the most potent sway on the investor that you seek funds from. You can go through the person that has brought good deals to the investor in the past. 

Successful and savvy entrepreneurs create ample time to do their due diligence on possible connections. These entrepreneurs also ask critical questions regarding the connector for the introduction. You should avoid getting referrals from another investor. Any time an investor gets a referral from another investor, the first question is always, “are you investing?” As an intelligent entrepreneur, you need the answer that will be in favor of your goal and not against it.

When the investor making the introduction has a different investment focus than your business, and there is a reasonable answer to why he is not investing, it wouldn’t hurt your target fund. 

  •      Develop and build a relationship over time

It will be very good to build a quality relationship with the investor over time. When you don’t have a strong network to provide an introduction from a strong source, building the relationship becomes your best option. To approach investors for funding is never a stroll in the park; you need to have your game plan well laid out. You can devote time to follow the investor on the different social media platforms and make meaningful comments on their posts. 

Also read: How to avoid bad debts in a business 

  •      Seek for advice first, before money

Most times, investors are not looking to write you a check straight away, so you need to get close first. You should start with soliciting for advice on a specific matter like best marketing and sales strategy, business model, target market approach, etc. Go back and execute on the investor’s response ad ensure that you show appreciation for the guidance. 

  •      Be personal with your approach 

The number one rule on how to approach investors for funding is to target only the investors that your business fits into their specific area of focus. If this is not the case, you will certainly be wasting your precious time as well as these investors. Before you approach an angel investor or venture capitalist, make out time to study their investment portfolio. Whenever you reach out, ensure to be very specific in your approach. Make sure that you perfectly understand your potential investor’s area of interest, vision, etc. 

Conclusion 

It takes a great deal of patience and preparation to seek funds from investors and venture capitalists. You need to understand that there is no shortcut here; everything must be done accordingly before you can achieve the result. With these highlighted tips on how to approach investors for funding, you can now prepare very well before seeking funds.

I would love o hear your thoughts on this topic, so kindly make use of the comment box provided below.

 

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How To

How to Obtain NYSC Exemption Certificate In Nigeria

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Obtain NYSC Exemption Certificate In Nigeria

Processing NYSC Exemption Certificate could pose a challenge to you if you are oblivious of how to go about it. That is why I created this article to explain the entire process in detail, step-by-step. By the time you finish reading this, you should be able to process your NYSC exemption certificate by yourself.

Obtain NYSC Exemption Certificate In Nigeria

Here’s A Copy of NYSC Exemption Certificate (Sample)

Note: NYSC stands for “National Youth Service Corps”

Before I get to the bone of the talk, why would you or any Nigerian graduate want to get or process NYSC exemption certificate?

Here are the reasons:

  1. You are Thirty (30) years of age.
  2. You are a serving member or once served in any of the Nigerian armed forces like the Nigerian Army, the Nigerian Navy, or the Nigerian Air force. Or, it could be that you are a Nigeria Police Officer or served in the Nigeria Police for over Nine month.

If you are a member of staff of the following paramilitary organizations in the country, you would be ineligible to serve in the NYSC:

  • The Defence Intelligence Service,
  • The Nigerian Security Organization,
  • The National Intelligence Agency or
  • The State Security Service or.
  1. Finally, having been conferred with any National honour, you are ineligible for the NYSC.

If you belong to any of the categories above, you would have to get the Certificate of Exemption from the NYSC.

However, if you are a graduate from a Part-time programme you would be issued letter of exclusion and this is different from NYSC Exemption Certificate.

How to Become Eligible For NYSC Exemption Certificate

If you are a Nigerian graduate whether at home or trained oversea and you have the stipulated tertiary education qualification of B.Sc., B.A., or HND from an institution approved and accredited by NUC, NTBE, NCCE, then you are eligible for the NYSC Exemption Certificate.

However, if you are a foreign-trained graduate you must submit your certificate for Evaluation/Vetting at the mobilization Department of the NYSC Secretariat.

Processes for Collection of NYSC Certificate of Exemption

Home Trained Graduates

The process begins from the corps producing institutions.

  1. The Tertiary Institution attended. The school submits the masters list of their graduates alongside with the senate approved results to NYSC.
  2. A print-out is process by NYSC classifying those to be called up for service and those to be exempted. This print-out is sent back to the institutions for verifications and corrections after which they are returned to NYSC as an agreed/corrected document.
  3. Also, with the print-out, the certificate of exemption are produced, documented, and sent back to the institutions for issuance o the appropriate person.

N/B: Collection of the Certificate of Exemption for home trained graduates is only done in the institution of graduation and not in NYSC office.

Foreign Trained Graduates

  1. The process begins with the evaluation of credentials and other related documents i.e. international passport.
  2. After the evaluation of credentials the foreign trained graduate is then registered and this is physically done at the NYSC directorate headquarters, Abuja. It is at the point of registration that the classification of whom to be called-up or who to be exempted; is determined.
  3. Certificate of exemption are therefore produced for those exempted from the service.
  4. Such certificates of exemption for foreign graduates are to be collected at the NYSC directorate headquarters at the stipulated time communicated.

N/B: collection of the Certificate of Exemption is grouped under the three batches of the service year, depending on the date of the registration. This will be communicated to exempted graduates at the point of registration.

To Collect NYSC Certificate of Exemption, you must do it in person and must provide proper identification such as your international passport.

So, that’s all on how to process NYSC Exception Certificate. I hope this article was helpful.

Do you have questions or contributions to make to this? Please, let me know immediately by commenting below this article.

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