Ever been in a dilemma of whether you should take a risk or not? Whether this risk will return considerable advantages for all the apprehensive moments you’ve spent on it? Well, this is the exact undertaking investors go through, right before investing in a promising entrepreneur’s company. This particular company had to show that it had what it takes to strive in a competitive market to get in the eyes of this investor. So what do the big Investors look for in Companies to make their investment secure, and what can companies do to land this highly coveted Million Dollar Fish?
The Evolution of a Company
The journey of a company begins as a start-up or a small scale enterprise and goes through a series of transformations beginning from drawing customers, retaining customers and following into stabilizing their brand. Another important aspect companies have to partake in is the aspect of attracting and entertaining investors. This is a tough job in a market where there are a multitude of competitors prying to make it to the top. So investors generally look for not just fresh ideas, but also companies that can take a pre-existing idea and succeed with good returns.
The investor base consists of a wide range of funding channels such as Venture Capitalists, Angel Investors, Crowd funders and Sweat equity investors. There are also certain things these prospective investors look for in a company starting from a strong Business Plan. According to The Oracle of Omaha, Warren Buffett, “It’s far better to invest in a wonderful company at a fair price, than in a fair company at a wonderful price”. This quote from one of the greatest investors ever, gives us a view into the widespread sentiment of Investors. They want to be part of a “Run” that has been well distinguished, strongly conducted and has broadened its specialty.
Distinguishing your Conglomerate
A salient component of broadening a company’s specialty is first separating themselves from the herd. This involves a range of actions starting from hiring competent employees, maintaining good management, aiming for high goals and being pro-active in attracting clients. A company at hand also has to deal with competitors and remain strong in their respective market. This starts at valuing their customers and offering services that other companies can only dream of. A customer decides the greatest value of a company, and an investor understands this. In a way, the company is a customer of the Investor. So, beginning from serving up offers that attracts customers to sealing the final deal is all part of the process that defines a company.
Next comes valuing the customer and then retaining customers. A million dollar investor will look for how you handle them and what the willingness is of a client to return to the website. A way to deal with this paradigm, is offer up top-notch customer service. Customer support service is a very important aspect and there are different types of this. Phone calling, text chat are common examples. Although, the advent of Voice/Video chat assistance is looking to revolutionize this playing field. Investors generally are interested to see if their client company is doing well to stay up in the market, and there are few sceptics of this proposition. Hence, Voice/video chat comes under this umbrella term of Customer service, and the advantages are plenty.
Chat assistance, in general, is very helpful for a company to talk to its customers and speed up the transaction by offering the customer what he/she needs. In the below image we can see how good customer service increases the stock of a company, which in turn pulls up the value of a company in the eyes of an investor.
There have been multiple instances where the company just fails due to poor customer retention and customer service. Clearly, if a company wants to distinguish itself, it has to start at being adept with their customers and customer interaction is one of the major parts of this ideology.
As we have seen above, an Investor values traction of a company and how the company deals with customers compared to its competitors above all.
A company needs to be distinguished and definitely not plagiarised, with a good idea and good management, in order to promote themselves. Specializing themselves is another facet of this brilliant business of entrepreneurship, and companies that have the right amounts of these ingredients are in for a long haul and can gather up investors. It will only be a matter of time and hardwork until you and your company reel in the Million Dollar Fish.