I am looking to build an android app and I am meeting an investor for this. I want to know how should I prepare for this? And How should I prepare the budget.
Hi. Great you have an opportunity to meet with an interested investor so early in the game.
Your initial meeting will likely not result in a "yes" or "no," so view it as an information sharing session for both you.
Given that, you should:
* present the market need you're addressing
* convey your competence and expertise
* stress the uniqueness of your venture and the product
* offer well-reasoned financial projections on revenues and profits for the next three years--ideally a good pro forma
* explain what $ you need and what you plan to do with that $
* propose what the $ will get the investor (e.g. equity, debt note) and the structure around what that looks like (e.g. share of the company, interest rate, conversion opportunity)
In turn, you should learn the following:
* the investor's sophistication in investing and their understanding of risk
* the investor's skillset and willingness to lend a hand in those areas if needed
* connections that the investor is willing to make
* a sense of why they're interested in investing
If you wish to discuss, send me a PM through Clarity for 15 free minutes.