Finance Toolkit 4 My finance strategy results – IDEATION

Step 4: My finance strategy

Congratulations!
You’re ready now to engage with investors.

It is very important to spend enough time and efforts to prepare the appropriate formats to present your green company. This is an almost endless process, during which you will repeatedly fine-tune the materials you have prepared. In this section we’ll provide you with different tools to define your fundraising strategy and to arrive well prepared to meet your investors, always taking into consideration your development stage.

→ But first… download our handy Fundraising Readiness Checklist:

 

Download

Your business stage is IDEATION.

→ Check out our recommended materials & different tools below to define your fundraising strategy and to arrive well prepared to meet your investors.Good luck!

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1. SwitchMed: your unique specific green programme

Turn your green ideas into business opportunities!

Would you like to have a leading role in the transition to Circular Economy?
Do you have a green business idea but you do not know how to start?
Would you like to choose alternative ways to do business?
You don’t know where to find technical support and access to finance?
Would you like to convert Challenges into green business opportunities?

→ Get here the SwitchMed training methodology for setting up your green business model:

Download

Once you created your green business canvas you should work on your green business plan.
→ Get here the SwitchMed incubation methodology:

Download

Get inspired by other green entrepreneurs from other Mediterranean countries and/or participate to the Switchers initiative by sharing your green entrepreneurship story!
→ Learn more about the Switchers!

2. Incubators

A very good way to start your green business is to be enrolled into an incubation programme. You have to understand the resources and services offered, the cost of being involved, and make certain the whole package matches the needs of your green company.

Look specifically at:

→ Mentors:
Do the entrepreneurs and specialists in the incubator have experiences and networks that are beneficial for your green start-up?

→ Curriculum:
Entrepreneurs who go through a business incubator are typically required to go through rigorous trainings and educational seminars. Be certain you can handle it.

 

3. The 3F – Friends Family and Fools:

What do you have to know about the love money?

→ It is known as Friends, Family and Fools (3F) because in many instances, it’s friends and family that help fund start-ups. The term fools that’s used isn’t a very nice one, but it refers to the fact that such investors have just invested in a business at such an early stage, with all the risks involved, and such early stage businesses have a high potential for failure. This economic support is received primarily from the people around you like friends and family.

→ The advantages of love money are obvious: good rates when required, soft credit standards and the chance for FFF investors to take part in your business success. However, there are also few disadvantages to love money that you should consider too. Sometimes relations can suffer and the personal connection might lead love money-investors to ignore the uncertainty of your business.

→ Try to keep the expectations regarding repayment no too high in order to avoid disappointment and always be clear with your friend and family member about the possible risks.

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You’re done! Let’s finish

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