Expansion, a daily reference in economic, business and entrepreneurship issues, wanted to consult Patrick Hunt, our managing partner, on what are the keys to obtaining funding. Patricio, who has led in Intelectium funding rounds for more than 30 companies, he says in this article 6 essential aspects that an entrepreneur must bring together in his team and in his project:1. Full involvement of entrepreneurs —preferably two or more than two—. If any of them don't dedicate themselves full time to the business, this doesn't say much in favor of the company's future. The entrepreneur still has his head in two places, he is not focused. Therefore, their degree of commitment to the new project is diluted.2. PowerPoint presentations are history when it comes to raising funding. Investors want a business prototype with the necessary elements to test its current operation and to foresee the future. Accelerators rely on a combination of elements, including, and most importantly, the business opportunity. In the case of family and friends —family and friends—, the main guarantee is usually the entrepreneur, whom they know and trust, but for investors, something more is needed, and above all, to prove that the business is attractive.3. Who are your customers? By what number do you manage to increase your portfolio each month? You must have a convincing and testable answer ready. Hunt explains that the usual percentage of increase should be close to 15%, although it depends on the business: “In some very specific cases, having two large customers is sufficient for the company's present and future sustainability.”4. Show that those customers are engaged with your product, who really like it and use it. On technological platforms, this is relatively simple to measure: how many users enter, how long they stay on the web and if they actually use the service you offer.5. You don't just have to show that you have a critical mass that likes your product. You also have to make it clear that your customers are returning., that is, they use your product or service on a regular basis. Hunt summarizes that potential, engagement and loyalty are three linked aspects, but that they must be considered separately. Define each of these plots with data — investors want numbers — and present it as a whole that gives your company present and future strength: you have transformed your idea into a business and you can prove it with facts.6. Are people willing to pay for your product? Answering with an accurate yes backed by a number of customers who have already become your regular consumers is the last phase that can definitely convince your potential investor.
