Securing external funding requires thorough preparation. Entrepreneurs should start by developing a detailed business plan that outlines their vision, market opportunity, revenue model, and growth strategy. Financial projections and a clear use of funds should also be included.
Next, entrepreneurs should create a compelling pitch deck. This presentation should succinctly convey the business idea, market potential, competitive advantage, and the team's qualifications. Practice delivering the pitch to ensure it is engaging and persuasive.