When you start preparing your business project, it’s time to get your money back. Then you start looking for an investor.
In the beginning, it is best to ask your friends and family to invest. You can also finance your project with your own money or borrow from a bank. A potential investor will want to see a prototype that is a product in its initial phase which has unique features. For an investor, it is important to have the experience and competence of the team and the business model and the way of earning on the product. What problem solves our idea and what is the competition in the market. Prepare a professional presentation that contains specific data.
All critical comments apply to refine your project because you receive not only money, but also economic knowledge and business contacts. The presentation should be short and show the product.
You can also look for capital in investment funds and business angels. Show finished product at conferences and fairs. Build a database of potential customers interested in the product before it is completed. Interested in people with their ideas and listen to their opinions.