Credibility is a key survival factor for startups. Regardless of whether you want to convince investors, attract customers or apply for our incubator program. Each of these target groups invests money and/or time in you and they must believe that this investment is well spent in you. She must trust you! And according to studies, trust is one of the central factors that play a role in a purchase (or investment) decision. But how do you create this credibility when you're still at the very beginning and haven't even been able to prove that you and your startup have what it takes to revolutionize your market? How do you convince investors and buyers of your idea?
Credibility is a key survival factor for startups. Regardless of whether you want to convince investors, attract customers or apply for our incubator program. Each of these target groups invests money and/or time in you and they must believe that this investment is well spent. According to studies, trust is one of the central factors that play a role in a purchase (or investment) decision. But how do you create this credibility when you're still at the very beginning and haven't even been able to prove that you and your startup have what it takes to revolutionize your market? How do you convince investors and buyers of your idea?
1. A strong vision
We all believe and focus on people who have a clear goal, or even better a vision, in mind. A vision doesn't primarily explain what you're doing, but why or why you're doing it. It gives a higher meaning to the mission that you are pursuing as a startup founder. And this sense is in turn important for investors and potential customers to recognize the intrinsic motivation behind your business idea. And if this vision is authentic, you will also be able to inspire investors and customers and convince them of yourself.
2. A clear value proposition
Customers don't buy products, but solutions that provide them with added value and optimize their world, in whatever form. So make it clear what added value your customers get from your product. Your customers will be able to understand your product much better and they will feel understood and accepted, which in turn makes you and your idea more credible.
3. Keep your value proposition!
If you not only sell great added value, but also deliver on it through your product or service, this ensures a lasting relationship of trust between you and your target groups. In this way, prospects not only become customers, but “fans” of your idea and we humans believe in people who have many enthusiastic followers. The phenomenon is called “social proof.”
4. Recommendations
Have you already successfully launched a prototype and implemented several pilot projects? Then let the world know! Ask your pilot customers whether you can use their logo in your communication media or better yet: Ask them if they will write you a positive review on relevant review portals or testimonials. The more pilot customers you already have and the more prominent these pilot customers are, the greater the credibility in your startup.
5. Presence in external media
We all consume to obtain information. Whether it's the daily newspaper, a specific podcast, or someone's Instagram channel that inspires us. And we trust that information. Do you know which media your target group consumes? Then do everything you can to be present in these media. Especially at the start, this is a cost-effective way to help your startup gain visibility and credibility.
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