Whether you’re seeking investors for your startup or searching for the right people to help you grow your successful business to the next level, the process can seem overwhelming. Not only have you got to persuade investors that your business is the right one for them, but you need to find the right people to pitch to.

Not every investor will be right for your business, so how do you go about finding the right investors for your business? Read on for my top 6 tips.

6 Ways to Find Investors for Your Business

1. Define Who You’re Looking For

Are you just looking for capital, or are you looking for angel investors with the expertise to come in and help you grow your business? Know clearly what kind of funding you want because you need to be prepared to turn down an offer for money if that investor isn’t the right fit. Consider what experience you want them to have, if any, and what kind of involvement you’re prepared to allow. Not everyone wants an investor who wants to come in and run the business, so don’t be tempted to take the first offer you get.

2. Look Local

Many angel investors like to play an active role in the business they invest in, so if you’re looking for this kind of investor for your business, look for someone local to you. For example, if your business is based in Toronto, working with an investor in Vancouver may not be the best move. If you want someone who will be more hands-off, however, this may be the perfect setup. When you limit your search to a certain locality, you’ll likely find it easier to narrow down your list of potential investors.

3. Attend Pitch Events & Network

Don’t worry, pitch events aren’t really like Shark Tank or Dragon’s Den – at least, no one’s going to tell you your idea is stupid. While the current (early 2021) circumstances have made these events difficult, they’re happening virtually and will soon return to in-person events.

At networking events and pitch nights, you’ll be able to present your idea or business and seek funding. Consider attending other industry events to network, even if you’re not planning to pitch, as you never know who you’ll meet there. Do your research into industry-specific events, but some events you can consider are SXSW, Collusion, and WebSummit.

4. Consider Crowdsourcing

If you have an idea customers are excited about or passionate customers waiting excitedly for your next product or service, you may want to consider crowdsourcing. Kickstarter and Indiegogo are two of the most well-known, but you can also find more corporate-friendly options such as CircleUp, Wefunder, MicroVentures, or Kickfurther.

5. Use Social Media

Connecting via Social Media may seem unprofessional, but can help you find the right investors when you use it correctly. The key here is to be human and try to make connections for the sake of connections – i.e., don’t contact someone for the first time saying, “do you want to invest?” Be active on relevant social platforms and connect whenever you have the opportunity. Twitter and LinkedIn will likely be the best two to use.

6. Use Online Resources & Forums

Finding local investors is often a case of talking to people, but if you don’t have many connections as a new startup, making those initial contacts can be difficult. There are some great online resources that can help you make those connections if you simply put yourself out there. Some of the best to check out are: AngelList, Angel Investment Network USA, Angel Capital Association, and you can find some location-specific investors here.

Consider other Options

While these methods are all tried-and-true methods, don’t be afraid to think out of the box, provided you’re respecting other people’s privacy (don’t turn up on doorsteps with a pitch deck, for example). If you realize that none of these methods will be right for you, consider raising capital via a loan or seeking funding from your family. Both routes are difficult, but when managed correctly, can provide you with the additional capital you need to get started or grow.

6 Ways to Find the Right Investors for Your Business