Are you wondering how to build a fundraising story for your business? In essence, you should never try fundraising for your startup without a great story.
If you want to rocket your chances of converting investors, secure the best terms when you do get and turn every contract into a brand ambassador, you need a strong story. Where do you start with creating one that will pave the way for you?
The Value of Storytelling for Startups
Storytelling is everything for startups. It makes all the difference when out there fundraising. It makes all the difference in securing advisors and the best team members. It makes all the difference in acquiring customers and the price they are willing to pay for what you have to sell. In turn that makes all the difference in how much your company is worth.
Think about it. The story is what triggers so many people to donate to causes that nonprofits can pay their celebrity leaders like Al Sharpton $1M in a single year. The story is what makes the difference between McDonald’s only being able to sell a cup of coffee for $1, and Starbucks charging over 4x as much.
The story is all that really makes the difference between a $15 purse at Walmart, or $1,900 for a YSL bag, or paying $65,000 for an identical-looking The Row bag from Neiman Marcus. The story is why people can sell water they pulled out of the ground for free for $1,000 a bottle. You might not fathom why someone would pay so much or invest so much in the water you siphoned from your backyard.
Yet, Pepsi has recently launched two new bottled water brands in a $16B industry. Keurig Dr. Pepper recently made a $525M acquisition of another bottled water company. Though closed another after finding high levels of arsenic.
Value of any kind all comes down to the story. So get one. Tell a great one.
What a Good Story Should do for Your Startup
There are several important things when considering how to build a fundraising story for your business when you are about to go all out with the startup fundraising efforts.
The primary function of storytelling is to tell a story that resonates and builds affinity with your ideal audience. So, first, you really need to know who they are, intimately. Who are your ideal investors? What do they relate to?
The next factor is conveying the most important points about your business. You can give the reasons for your features and their tangible benefits in story form. It’s far more interesting and will keep their attention too.
See How I Can Help You With Your Fundraising Efforts
- Fundraising Process : get guidance from A to Z.
- Materials : our team creates epic pitch decks and financial models
- Investor Access : connect with the right investors for your business and close them