Ep 158| Creative Designers Vs Business Entrepreneur's and Investors - 7 Strategies to Persuade

Creative people are not meant to be a business owners and business investors don't understand a potential behind an idea when a creative person is giving, right? So both of them has this clash. In this podcast I'm going to tell you in seven strategies how you can persuade a network and collaborate with business investors and venture capitalists and business entrepreneurs in order to really make a collaborative effort to win this. It's not about fighting or ego, guys. Lot of people have this misconception and lot of industries are really having this problem between creative people and business people. Let me tell you, in this podcast you're going to give, you're going to get a great clarity and you're going to understand trust is everything in which a business is built and you will know how to exactly do it. Stay tuned. In this podcast you will learn a lot. What does it take to be a creative designer? What does it take to be a business owner? It takes a lot of things guys, but this is not the point. Everybody has reached their potential and everybody has their way to do their career and everybody holds a different position in an organization based on the interest and skill nature, right? Nobody is big or small or something. Before starting this podcast, let me give you this caution because end of the day, lot of ego clashes, lot of fight, lot of businesses have broken because of this thing. Because creative people always tend to create some ideas which may be radical, which may be not implementable, which may be good at sometimes. But business investors see only one thing. How does it make a significant value proposition in terms of enhancing the customer experience and getting the business revenue gone up? Because both are the essential wheels of the engine. If it is not driven properly, then the idea will become idea and the money will be invested continuously and there is no returns. The business will go in loss. So how do you really understand this? See, let me tell you guys, there are seven strategies to really persuade it. And let me tell you one more important thing guys, a lot of people think Jews are one of the, I mean they don't do business properly and they are just becoming rich and they don't know anything. But they are, they are in the top, what you call top 100 influential persons. And there are a lot of people, let me tell you guys, I have recently read a book called Thou shalt prosper and it's a very beautiful book and this clarifies a lot of misconceptions. And that book I learned one thing very strongly. Jews have really become successful in business because of the trust building nature. What they have, they know how to build trust people. And they know how to trust them and they know how to get the trust from these people. So what I've learned, it's not about religion, caste or anything. It's about the good thing, what they said. That's what I really liked in that particular book. And there are a lot of scientific journals and data which can prove that Jews are really built. Jews are really good in building that trust. So if you build that trust, you can able to persuade anybody. Guys, that's a very, very important step I would say in order to really win any business organizations, what you call business proposals or investors or venture capitalists. You wanted to propose something, you wanted to pitch something, you wanted to really pursue it. Trust is a major important thing. Beyond all the seven strategies. That's a vital thing which everybody needs to have. Okay, so let me now tell you the first important thing. Develop a very good narrative. Guys, if you really wanted to persuade somebody, you need to have a strategy. Create a good cohesive story around your startup. Emphasize its mission, vision, value and the impact what it can create. A study by Harvard Business Review found that compelling business narratives are more attractive to get into investors purview. Okay, so you can read a book called. You can read a blog called Power of storytelling in Business Harvard Business Review. It's a monthly journal. I guess you can able to subscribe it and know it. Second important thing is demonstrate a market validation. This is very evident guys. If you're not showing the market demand through some pilot programs and user testing feedbacks or early partnership, let me tell you, you're not going to win that discussion. Startups and proven market validation are 30% more likely to secure funding. It's a source by nature Venture capital Association. You can read the thing called role of market validation in startup success. It's a journal of entrepreneurship. Second is demonstrate market validation. Third is build a strong network. See actively engage with lot of industry leaders, mentors, potential collaborators. Build a good network with all the co designers. Wherever you're attending a webinar workshop seminar. If you're going and participating in online communities collect as much as information and good network with people. 78% of the successful startup attribute to the part of their success of good networking. Startup genome report told that impact on networking on success startup. You can read this journal by business and entrepreneurship. Okay, the impact of networking on startup success. I'm giving you reference also so that you can able to build more knowledge in that Fourth important thing is leverage the social proof. This is indirectly trust. See highlight your Endorsement, your testimonies, your partnership, the way in which you build your credibility, that makes all the difference. Guys, companies with social proof are 63 percentage more likely to secure venture capitalist funding rather than anybody. Angellist has found that it's a very beautiful investor group. Angellist they have did that 63% more likely. Guys understand that. So the role of social proofing in funding successful. A journal by Finance and investment has written that you can read that the fifth important thing is showcase a scalable business model. See in this day and age, showcasing a fancy business model is not the point anybody can bring that. The point is how scalable it is. How digitally or physically it can be scalable. You can say McDonald's, you can say Starbucks, you can say KFC. Their business model is scaled up. Their business model is easily scalable. That's why they are able to have their branches in almost 100 plus countries or 150 countries because of that nature and the business model. So clearly outline how your business can scale and adapt to market changes assuring a long term viability. Startup with scale up business models are 50% more likely to attract venture capitalists. Source by McKinsey so understand this. Sixth is mitigate risk. Address the potential risk transparently providing a well thought out mitigation plan. Every business has its disguise. The way in which you respond and mitigate the plan will able to get you more success conversion of your business proposal. So startups that proactively manage and communicate risk have 45 percentage higher successful rate. It's a. It's a source by Journal of Risk Management So get this clarity. The seventh important thing is focus on sustainability. See always emphasize the balance between growth and sustainability because that ensures a long term growth. Startup with a great sustainable growth are 40 percentage more likely to secure follow up funding. It's a journal by Sustainable Business Journal. Okay, so understand this guys, let me repeat you this. Seven strategies. Develop a very good compelling story narrative and a good value proposition. What you wanted to show, demonstrate a market validation, do your primary secondary research and validate that. So build a very good network and keep networking with people continuously. Fourth is leverage your social proof and trust. Fifth is showcase a scalable business model. Sixth is mitigate the risk plan. Seventh is focus on sustainable growth. If you're able to do this guys, let me tell you you're going to have a proper value proposition showcased to your business investors. And let me give you some additional nuggets. Guys speak their language. Learn investors how they talk. Learn in a venture capitalist what kind of words they use understand and analyze that and show that in your conversation because you will be able to come up with great understanding. Always prove your data. Always prove your logic with the data. Always prove your logic with your vision, mission and a dream what you have. Because that attracts people that that really creates attraction. You're not just talking, you're just validating that also. And be flexible to open for negotiation or for more ideas and feedback with them. Because this extra points what I'm giving you guys, it will make you really success and a lot of people have become success because of this. It's not only the market value proposition is going to help you, it's this soft skills which is going to help you a lot. Guys. 74% of the investors says the quality of management team is the most important factor in their decision. And startup with a strong network are 3x more likely to secure funding. Companies that uses data driven Design decisions are 23 times more likely to outperform the competitors. So why are you waiting this? You got enough information why you needed to change your nature in which you talk to your business owners or your entrepreneurs or your business owners or your venture capitalist. Okay, so thank you so much guys. I hope you love this podcast. Give me a best star rating if you find this useful in Spotify and Apple. And if you need my mentorship support, you can write that email DFC Design for change. Me or my team will help you out to join my mentorship program. Okay so thank you so much guys. Bye bye. All the best. See you.