If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we ask the Co-founder and CEO of an oral wellness company to share his tips on how to capture the attention of top investors and leverage the funds to grow.
In this edition of “Ask the Board,” we feature Vladimir Vukicevic, Co-founder and CEO of Better & Better, a sustainable oral wellness company. Vlad successfully co-founded two startups that were both acquired.
Below, he shares his top advice for how to identify your brand’s best investors and scale your business to become a recognizable brand name with a loyal customer base.
Go big or go home
Investors are looking for big swings. They prefer investment opportunities with the potential to take major share from existing markets or create brand new markets. As a founder, it’s your job to paint a big picture that is both exciting and aggressive. Investors see thousands of ideas per year so your vision must be unique. It needs to stand out from the crowd.
Build trust
Early stage investors are betting on people, which are usually the founders who bring the big vision to life. You must work with your team to demonstrate your experience and your resilience. Remember, it’s a long journey in building a successful company. Without good people, the probability that investors will trust you is very low.
Start with who you know
After you’ve developed your vision and solidified your founding team, it’s time to find the investors. Early investors may already be in your network. Former colleagues, bosses, customers, classmates, and anyone you’ve encountered in the past may be interested in jumping in early. Those that know you already trust you. Once someone supports you, there’s a good chance they’ll bring others on board.
As a founder, it’s your job to paint a big picture that is both exciting and aggressive.Vladimir Vukicevic, Co-founder and CEO of Better & Better
Now that you have your investors, focus on growing your brand and bringing in everyone’s return on their investment. Here’s how to scale a consumer brand:
Ensure a good product
There are no shortcuts with physical goods. Customers will immediately compare your product to the best in the market. Customers don’t care that you’re a startup or that this may be your first version. It’s better to take a bit more time and resources in order to have a good product upon launching. A good product is not an option. It’s a necessity.
Hone in on your message
There is a lot of noise in the market in the form of commercial and social media ads. That’s why it’s important to be very clear and focused with your message. One important product benefit may be more powerful than a whole collection of nice-to-have features. To break through the clutter, customers need to quickly realize why your product is better than the rest.
Use early adopters as your sales team
Early on, every customer is a precious resource. Turn your early adopters into evangelists for your brand. Treat them well and they will spread the word. Make them feel special and they will become your first sales and marketing team.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
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