Show traction to get investors' attention
- Identify your industry-specific metrics. Identify the metrics that are most relevant to your industry and that demonstrate progress toward achieving your goals. This could be revenue, user engagement, customer acquisition, attendance, number of visitors, contributions, or volunteer hours.
- Establish agreements for field testing or piloting your product. Try to establish agreements with potential customers to field test or pilot your product or service, even if it's still in development. This will demonstrate an interest in your offering and show investors that you're actively working towards bringing it to market.
- Build a plan for testing and refining your product or service. Investors want to see that you have a plan in place for testing and refining your product or service. Make sure you have a clear plan that outlines the steps you'll take to improve your offering and make it more marketable.
- Track your progress and showcase it to investors.
Keep track of your progress and showcase it to potential investors in a compelling way. This could take the form of engaging visuals, customer testimonials, or a creative pitch that tells the story of your journey and accomplishments. Remember that demonstrating traction is the key to getting investors' attention, so make sure you highlight your progress toward achieving your goals.
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