THE BLOG

Using Technology For Investment Opportunities

23/12/2016 11:37 GMT | Updated 23/12/2016 11:37 GMT

Each and every day we think up new, adventurous ideas that help to improve or make our lifestyles easier, be it for our families, our work or the future - it's human nature.

Those with an entrepreneurial spark are even more susceptible to overthinking, for those of us newly in business, this can be a gift or a curse. While new ideas come and go it's how we hold onto each one that creates change.

As we move into a new year in 2017 people are becoming more reliant on technology than ever before, so why not utilise this in an effort to help reach our dreams?

Entrepreneurs are known to be forward thinking, innovative people; we have to be, in order to create unique propositions and offerings that are needed and appreciated by our audiences - even if the market itself doesn't know it has a need!

Yet, one thing I've found in launching several start-up businesses is that no matter how revolutionary the business idea it won't go anywhere without financial backing; be it personal finance, borrowing from family and friends or more than likely an outside investor who also believes in your idea. Money makes the world turn round and without it, no matter how brilliant you think your business is, you'll be struggling before you even start.

The good news is that there are a vast number of technological ventures out there specifically looking to help entrepreneurs not only find investors but also to stay connected with them throughout the business relationship. After all, in a time where over 50% of start-ups fail due to conflicts with business partners keeping an investor happy is just as important as finding them in the first place!

The progression of technology and the internet specifically has provided a myriad of opportunities for businesses to utilise to become more productive and communicate effectively.

Almost anything can be found with a click of a button nowadays, the simple connectivity provided by LinkedIn, through to one of the specialist websites such as Angels Den: it's relatively easy to find investment opportunities regardless of where you are in the world.

In addition to these connective channels, the rise of crowdfunding platforms like Seedrs or Crowdcube provides entrepreneurs access to other cash-rich entrepreneurs and business owners across the globe, again with the click of a button. The beauty of these platforms is that it gives investors the opportunity to invest a small amount of cash into a developing business, as opposed to sinking thousands through Angels Den strategies.

These channels are polar opposites of the investment chain yet both have a huge demand in the market, with crowdfunding being dominant online, demonstrating the rise of technology and what opportunities it now provides entrepreneurs, which they would have never possessed in the past.

The key to any successful business relationship, even in this day and age is communication.

Online facilities such as Skype and Slack keep verbal and written engagement open and fluid, regardless of cross borders or country locations. In addition to these communication platforms, over recent years there are a number of services that have cropped up specifically to help entrepreneurs and investors remain allied.

One such solution is Supdate, described as a 'freemium' service that simplifies the monthly business reporting structure, which may sound tedious and dull (it is), but in terms of the importance it has on business relationships it's a huge help for entrepreneurs, small business owners and investors needing accurate, consistently presented and tangible real-time information.

This service provides an easy to use interface and the ability to continuously add data and text to the report throughout the month, with its ability to recall every report you send the service then creates visual graphs to add to the report before allowing you to send it through the website. By providing simple solutions to seemingly mundane tasks such as monthly business reporting technology is continuously providing a helping hand in the maintenance of relationships in business.

In the past, there have been countless businesses that have disintegrated as a result of toxic, uncooperative or silent relationships between those running the company and the investors backing them financially - and, in truth, no entrepreneur wants that on their CV.

Entrepreneurs and investors are particularly aware of the fact that technology has greatly impacted commercial operations, more so within the start-up arena.

Investors putting their cash into what can be seen as 'risky' new ventures need cohesive business processes that provide accurate and timely feedback reporting and, of course, a clear communication channel with their business partner - the new investor and business platform Supdate, may just be the answer you have been looking for.