Ultimately, there is no magic moment when all the right investors will be available and ready, waiting for you to pitch your business to them.
The right time is usually right now.
Start reaching out to investors as soon as you’re able – as early as possible in fact, because this is a long game. Securing investment isn’t a case of striking it lucky in one hit. It’s about building strong relationships with investors over a period of time, very much as you go along, and as you’re actually developing your idea.
As soon as you’ve got your idea, get its core elements summarised on at least one page. Perhaps test it in some small way in the marketplace. If you then believe that it would be worth spending your time and effort working on a business based on your idea, start talking to investors.
Reach out to them on LinkedIn and through other online networks where they’re active and present. Research 10 prospective investors and start making contact with them. Ask them for advice on how to move your business forward.
Your early conversations with your prospective investors will remove any question about “the right time”. Perfect timing simply doesn’t exist when you’re looking for investment because the timescale for securing investment can be anywhere from three to six months and beyond.
The best time is always now. So, right now, maybe even today, compile that list of 10 ideal investors and start reaching out to them. Send them a message. Ask them a question. Get a meeting scheduled. Start a conversation.
Find out how to attract the right investors at my next event on 1st June, 2pm-6pm, at the British Library's Business & IP Centre. Other dates are available. Follow me on LinkedIn, Twitter or Facebook for special offers and discounts.