You are a healthcare entrepreneur who has the aspiration of reaching the summits of success. You have poured your heart and soul into your project idea; however, you are stumped when it comes to funding. Remember, entrepreneurs and investors both have a synergistic relationship; one cannot prosper without the other. If you have plans to start or expand your healthcare set-up, you may need financial support and may have to approach investors and convince them to come on board.
Pitching your idea may intimidate you quite a bit but don’t worry…a little bit of strategic planning can go a long way in attracting and motivating investors to invest in your project.
Some points to remember while mapping out your presentation before your potential Healthcare investors.
1. Formulate a business plan
A strong plan forms the backbone of any business goal. Planning is the first step in the journey towards the fulfilment of any vision. You need to have a strong business plan and be able to convey it to your potential investors in a compelling and convincing manner in order to make them desirous of investing in your project. This plan should vividly highlight your objectives in a timebound manner and underline your insights about your customers, your competitors and the market.
2. Communicate your USPs
While pitching, make sure to convey on how your Healthcare services are going to be unique, a class apart or a benchmark above other competitor. Emphasize on the originality or the uniqueness of your business enterprise.
3. Give detailed projections
Remember that only hard data or numbers can convince people to invest in a business idea and not just a hunch or gut feeling.
Vision without timebound goals is of no practical use to the investor. Demonstrate that you have planned for step-wise growth and give detailed explanations about when and how you will achieve every milestone. Give your potential investors a picture of your predicted growth in different scenarios. Incorporate elements like sales forecast, growth volumes and break-even points.
4. Keep your financial status ready for scrutiny
Before making any investment, financial institutions will definitely study your financial outlay. The way you handle your financial operations like cash flow management, your current equity, your debt management, your credit history etc. can tell them the story of your financial health. Be sure to keep all these papers in order.
5. Extrapolate on your team’s strengths
In the world of healthcare, the accreditation and the qualifications of your panel of physicians and skilled workforce carries a lot of weight. If they have a proven track record or are at the top of the tier in their fields of specialization, be sure to convey it to your potential investors.
6. Convey about ROI
Investors want to make profits in the end and hence you have to communicate to them that you guarantee good success margins. You have to also show them that you have a watertight plan to navigate through any unforeseen obstacles, if you want to convince them to infuse money into your healthcare venture. Investors expect a noteworthy return on their investment, and expect that this return will come to them as soon as possible.
7. Give a detailed break-up about fund usage plan
Investors always need a transparent and lucid break-up of your plans for fund usage. Show them the nitty-gritties of projected costs for various subheads like infrastructure, site development, medical equipment procurement, hospital architecture, skilled staff recruitment and training etc. Meticulous allocation of funds will make the investor more confident about investing in your healthcare facility.
To summarize, the fundraising process in healthcare can be both exciting as well as challenging. If you need any professional help in trying to ignite investor’s interest in your project, be sure to contact Hospertz, a seasoned and reputed Healthcare consultancy firm that can help you lay down the groundwork when you pitch your ideas to your potential investors to assure you of sure success.
