business-analysis
Inside HATIL’s manufacturing philosophy
To understand any company’s astronomical rise in any industry, it’s imperative to understand the story of the said company.
The story of HATIL, the country’s leading furniture brand, started at a small timber shop in Dhaka’s Farashganj, by the bank of the Buriganga River, almost 60 years ago.
In the firm hands of Alhaj Habibur Rahman, H.A. Timber Industries Limited took shape and became one of the prominent timber businesses in Farashganj, which was then Dhaka’s biggest timber hub.
Over the next 32 years, before HATIL’s formal beginning in 1989, H.A. Timber Industries Limited positioned itself as a key player in the country’s timber industry.
“He was a visionary man with a great reputation,” HATIL’s Company Secretary Md. Rezaul Karim ndc said about the founding chairman.
Banglalink's Q3 revenues up by 15.1 percent
Banglalink announced its sixth consecutive quarter of double-digit growth, in the third quarter (Q3) of 2023, its year on year (YoY) revenue grew by 15.1 percent to BDT 1,588 crore.
This continued success underscores Banglalink's steadfast commitment to delivering robust and innovative digital services.
The results of Banglalink's Q3 financials were announced during a press conference at the Banglalink office, Tiger's Den.
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Banglalink CEO Erik Aas made the announcement in the presence of Taimur Rahman, Chief Corporate and Regulatory Affairs Officer and Cem Velipasaoglu, Chief Financial Officer, reads a media release.
Banglalink’s seventh consecutive Ookla® Speedtest Award in four years further reinforces its leadership in ensuring high-speed connectivity to the consumers of Bangladesh and ensured a growth of 28 percent in data revenue YoY.
The company saw a 31 percent percent growth in its 4G subscribers base YoY to around 20 million subscribers, supported by an extensive countrywide infrastructure comprising over 15,000 towers and ensuring users a seamless and reliable experience of high-speed connectivity.
This growth is fueled by Banglalink's extensive digital portfolio, featuring the largest mobile entertainment platform in Bangladesh: Toffee and the country’s first super app: MyBL, which makes digital services more seamless and accessible than ever before.
Toffee is now popular amongst all Bangladeshis irrespective of operators and has witnessed a remarkable year-over-year growth (YoY) of 72.2 percent in number of users.
Read: Banglalink signs agreement with Palli Sanchay Bank to provide high quality digital solutions
Meanwhile, the MyBL Super App, embodying a "6C philosophy" focusing on Connect, Content, Care, Commerce, Community, and Courses, registered a substantial YoY growth of 48 percent.
Erik Aas, Chief Executive Officer of Banglalink, said, “Banglalink's consistent growth is a testament to our dedication to driving innovation in digital services. The company remains steadfast in its commitment to being an integral part of the digital journey of millions of Bangladeshis, empowering them with the best digital solutions and experiences. The company’s position as the country’s credible national player is reinforced by its commitment to providing superior digital services, supported by the nation’s fastest 4G network. Now, we look forward to being a growth partner of the country and contributing to its digital transformation.”
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Furthermore, Banglalink's growth is propelled by its commitment to investing in people. The company has ascended to one of the top five employer brands in Bangladesh, marking a significant leap from its former rank at 18th position.
Basel AML Index: Bangladesh improves in preventing money laundering
Bangladesh has improved in the prevention of money laundering and financing in terrorism, going up five positions in the Switzerland-based Basel Anti-Money Laundering (AML) Index 2023.
Bangladesh earlier ranked 41st on the index; it ranked 46th in 2023. Bangladesh Financial Intelligence Unit (BFIU) shared the information through a press release.
Read: Denim exports need to double by 2030 to achieve US$ 100bn: Speakers
Bangladesh made progress in implementing the Anti-Money Laundering and Anti-Terrorism Financing Act and has increased infrastructural facilities. As a result, Bangladesh moved up to number 46.
Every year, the Swiss organization reviews the performance of countries in the prevention of money laundering and financing of terrorism and prepares this index. Last year, Bangladesh improved by eight steps in Basel Anti-Money Laundering Index.
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Denim exports need to double by 2030 to achieve US$ 100bn: Speakers
Speakers at the inaugural ceremony of the 15th Bangladesh Denim Expo said Bangladesh needs to double its denim exports to achieve the US$100 billion export target by 2030 that was fixed by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) early this year.
“Bangladesh is the 2nd largest apparel exporting country in the world, but in denim, we are the largest exporter both in the EU and the USA, even before China,” said Commerce Minister Tipu Munshi on Wednesday.
Read: Unilever Bangladesh BizMaestros 2023: Shaping Future Business Leaders
“Bangladesh Denim Expo has a huge contribution behind this success of Bangladesh’s denim export,” he said while inaugurating the 15th edition of the Bangladesh Denim Expo as chief guest in Dhaka.
Siddiqur Rahman, former president of BGMEA; Faruque Hassan, president of BGMEA; SM Mannan Kochi, senior vice president of BGMEA; and Mostafiz Uddin, founder and CEO of Bangladesh Apparel Exchange (BAE), were the special guests on the occasion.
“Denim and denim-related products account for about one-fourth of Bangladesh’s total apparel exports. So, to reach the US$ 100 billion apparel export target, the country has to double its denim exports by 2030,” said Siddiqur.
“It’s possible. Because we believe that brands and retailers will choose Bangladesh as their preferred apparel sourcing destination since the country has made exemplary progress in workplace safety and sustainability in recent years,” he added.
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“The presence of 200 green garment factories LEED certified by the United States Green Building Council (USGBC) in the country is a testament to Bangladesh’s apparel industry’s commitments towards sustainability,” said Faruque.
“Among the world’s top 10 green factories, at least eight are located in Bangladesh,” he added.
“H&M has taken the initiative to reduce 56% of carbon dioxide by 2030. It has taken the initiative to sign a power purchase agreement to make the market competitive for the company. He emphasised taking a more regularised scheme to the recycling process. Also, focus on innovation—try, learn, and adapt techniques that are vital for the apparel industry. On this note, H&M is working with the GIF for green innovation,” said Ziaur Rahman, regional country manager (Bangladesh, Pakistan, and Africa), H&M.
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A total of 80 exhibitors from 12 countries are participating in the Expo. About 5,000 visitors from home and abroad have registered to attend the two-day expo.
Four panel discussions are also being organised for this edition of the expo.
Commitment towards sustainability at the heart of HATIL: Company Secretary Md. Rezaul Karim
Company Secretary of HATIL, Md. Rezaul Karim ndc, has affirmed that the renowned furniture brand is firmly dedicated to working towards its sustainability commitment to the environment.
“When we talk about a sustainable industry, there are some criteria to ascertain whether the company or the industry is sustainable. The first criterion is environmental sustainability, which includes practices like sustainable sourcing, recycling and reusing of waste,” Md. Rezaul Karim ndc, told UNB during an exclusive interview.
During the interview, the HATIL Company Secretary shared his deep admiration for the nation’s foremost furniture brand, shed light on the brand’s path to sustainability, and a glimpse into its sustainable practices.
One of the most notable sustainable practices at HATIL revolves around the sourcing of one of its most vital raw materials: wood.
“HATIL is committed to sustainability in terms of sourcing raw materials from overseas. For example, we don’t use local timber to manufacture our furniture as quality wood is not available. Initially, we used to source oak wood from Forest Stewardship Council (FSC) certified forests in Canada. Now, we source FSC-certified Beech wood from Germany and pine wood from Spain. Our use of FSC-certified wood aligns with our commitment to environmental preservation,” Md. Rezaul Karim ndc, said. At the same time, HATIL is reducing deforestation in Bangladesh where forests are below minimum standards.
A product being certified by the Forest Stewardship Council means it meets the “gold standard” of ethical production.
An FSC-certified forest, from where HATIL sources its wood, means that the forest is being managed in a way that preserves biodiversity and benefits the lives of local people and workers, while ensuring economic viability, according to the Forest Stewardship Council website.
Read more: HATIL’s ‘slim is smart’ has global appeal: Marketing Director Moshiur Rahman
‘REDUCE WASTE, MAXIMIZE PRODUCTIVITY’
One of HATIL’s key strategies to achieve maximum efficiency is embodied by the motto: “Reduce waste, maximize productivity.”
But how does HATIL do that?
“Well, if we want to reduce waste, we need to introduce better technologies, in other words, better machinery which would, in turn, enhance our overall productivity. The process also included recycling and reusing the waste,” the HATIL company secretary said.
He also provided some insights into HATIL’s recycling and reuse policy to reduce waste.
“For example, we have installed a Coral Anti-pollution System to collect dust in HATIL. We collect dust from every piece of machinery. Then we recycle it and turn it into briquettes. We use the briquettes as fuel for our Thermo fluid heater,” he said, adding, “This is one of the examples of how we recycle our waste and reuse it in HATIL.”
HATIL also recycles and uses wood offcuts to manufacture particle boards, he added.
Karim stressed the need to cease actions that harm the environment.
“This holds true for the furniture industry as well. We must ensure that we are not contributing to deforestation in any manner, and we should strive to minimize our wood usage as much as possible,” he added.
Read more: Commitment to quality behind HATIL’s success: Director Mahfuzur Rahman
Automation behind HATIL's most significant transformation, says Director Shafiqur Rahman
Introducing robotics and automation to HATIL’s manufacturing process was one of the most significant transformations since the furniture brand’s inception, according to HATIL’s Director Shafiqur Rahman.
“There was a time when a carpenter would be responsible for a specific product. If the carpenter was unwell or absent for personal reasons, the operation for that product would come to a halt,” he said.
“Now, if someone is unwell or on a personal leave, another person can finish the work with the help of automation at HATIL, making the process smoother and eliminating extra costs and delays,” Shafiqur Rahman told UNB during an exclusive interview.
HATIL employs a variety of advanced machines and automation to craft their furniture pieces at the factory. The use of technology ensures consistent design and size for every piece, which can be challenging to achieve with manual labor.
HATIL, Bangladesh's top furniture brand, is renowned for its quality and consistency, which has been crucial to the brand's enduring success. Shafiqur Rahman attributes this success to the brand's innovative approach, which incorporated advanced machinery and robotics into its production over the past decade.
“Previously, there was no plan in place to ensure an efficient manufacturing process,” Shafiqur said. “Often, it was seen that all parts for production were ready, but an important material was missing, causing the entire production process to come to a halt which, in turn, would add to the manufacturing cost.”
“Now, due to our streamlined operations, there is no backlog for any product,” he said.
Shafiqur came to be a part of his family’s decade-long wooden furniture business as an “intern.”
"Even though I formally joined HATIL's production unit in 2004, my association with the wood industry began well before that," he recalled.
Read more: HATIL’s ‘slim is smart’ has global appeal: Marketing Director Moshiur Rahman
HATIL’s ‘slim is smart’ has global appeal: Marketing Director Moshiur Rahman
HATIL’s “Slim is Smart” slogan has global appeal, according to Moshiur Rahman, the furniture brand’s director of marketing.
“At our showrooms abroad, we see that customers like our designs and are interested in them,” he said. “Those who are looking for furniture like IKEA but of slightly better quality and are willing to pay a bit more, prefer HATIL furniture over IKEA's.”
Over a span of 26 years, while being an integral part of HATIL, Director of Sales and Marketing Moshiur Rahman has been witness to some of the most pivotal transformations that the nation's foremost furniture brand has undergone.
During an exclusive interview with United News of Bangladesh (UNB), Director Moshiur shared his personal journey, HATIL’s sales and marketing strategies that have propelled it to become the nation's top furniture brand, and future prospects, among other topics.
‘Didn’t want to take business as a career’
Before stepping into the realm of HATIL in 1997, Director Moshiur Rahman had some different plans in mind.
Despite being one of the five sons of the visionary businessman late Al-Hajj Habibur Rahman, the founder of H.A. Timber Industries Ltd, Moshiur didn't initially aspire to follow in his father's footsteps.
“I completed my bachelor's and master's degrees in English literature,” he said.
“I wanted to study English literature and become a teacher, and I also wanted to write,” he added.
Despite his involvement with the country's leading furniture brand, Moshiur continued to pursue his desired path up to a certain point.
“I have done some writing, including books of poetry and novels. At some point, I also worked as a teacher at a university (for a few months),” he told UNB.
From ‘for those who could afford’ to ‘for everyone’
As part of the country’s leading furniture brand, Moshiur has been a witness to all the significant transformations in HATIL's business, sales, and marketing strategies over the past 26 years.
“Initially, our strategy was to make furniture not for everyone but for those who could afford the very best. However, our strategy has changed now. We are now targeting not only the affluent but also the middle-class,” he said.
For Moshiur Rahman, trade fairs have been the most pivotal part of HATIL’s marketing strategy since 1995 — the first time HATIL participated in a trade fair.
“Participating in trade fairs was a significant part of our marketing strategy because these trade fairs used to provide us with some breakthroughs. We used to experience a significant boost in sales during each fair,” he said.
Read more: Commitment to quality behind HATIL’s success: Director Mahfuzur Rahman
“After each fair, we would supply the products showcased for the next one or two months.”
These fairs have assisted HATIL in shaping their strategy, enabling them to offer the same product model at various price points, ranging from high-end to more affordable, depending on the materials used in manufacturing these products.
“We introduced a unique sofa design for HATIL at the 1997 trade fair. We named this model ‘Mela 97’ and it received around 100 orders,” Moshiur Rahman recalled. “We offered the same model at different price points based on the type of wood we used to manufacture it.”
“This is when we started thinking about how to offer our products at a more reasonable price,” he added.
‘Slim is smart’ at the center of HATIL’s success
Like many other brands in the furniture industry, HATIL's furniture designs differed significantly from the ones we see today.
“Our furniture designs were not as modern as they are now; we used to follow more traditional designs,” Moshiur said, referring to the slim and minimalistic design which is at the center of the brand’s success.
“People nowadays prefer slim-designed furniture because urban apartments are becoming smaller in size,” he said.
Commitment to quality behind HATIL’s success: Director Mahfuzur Rahman
It was his father’s letter to his then Malibagh address in July 1993 that marked the beginning of Mahfuzur Rahman – one of the five brothers who own and operate HATIL Complex Limited – at the helm of H. A. Timber Industries Ltd.
H. A. Timber Industries Ltd – a small timber shop on the bank of the Buriganga River – was founded by the late Al-Hajj Habibur Rahman in 1963, at 2/1 Ultinganj Lane in Old Dhaka’s Farashganj area.
Despite being a part of a family with a three-decade-long involvement in the wooden furniture business, Mahfuzur Rahman chose a distinctly unconventional path for his career in the beginning.
After completing his graduation from Dhaka College, Mahfuzur Rahman started his own monthly publication called “Computers and Electronics” with his friends in September, 1991.
Two years into his publication business, Rahman got a letter from his father, urging him to join H.A. Timber Industries Ltd. as an Executive Director. In August 1993, he joined the family business with a salary of Tk 4,000 per month, Rahman recalled – now managing director at H.A. Timber Industries Limited.
During an exclusive interview with UNB, Rahman shared how HATIL became the furniture giant it is today.
Rahman is one of the directors at HATIL Complex Ltd., one of the top furniture brands in Bangladesh, established by his father late Al-Hajj Habibur Rahman in 1989.
Bangladesh’s furniture industry has seen rapid growth over the past few decades, which is expected to continue in the coming years.
According to Statista, revenue in the furniture market in Bangladesh was US$ 2 billion in 2023. The global furniture market size was valued at $ 541.52 billion in 2023 as per ‘Fortune Business Insights’ data. The furniture market in Bangladesh is further expected to grow annually by 9.71 percent (CAGR 2023-2028).
HATIL Complex Ltd., now the top exporting furniture brand in Bangladesh, is a leader in driving that growth in the industry.
During his interview with UNB, Mahfuzur Rahman shed light on HATIL’s past, present and future as well as the challenges it is facing due to the ongoing crises around the world.
Rahman attributed HATIL’s success to his brother Selim H. Rahman’s leadership, the hard work of his four brothers, and HATIL’s commitment to not compromise on its product quality.
H. A. Timber Industries Ltd. installed 1st Seasoning plant in the private sector in 1988 with a motto to make available seasoned timber for furniture, doors and door frames.
When asked about the rationale for choosing “Slim is Smart” as the company’s slogan, Mahfuzur Rahman said: “Consumer preferences are changing over time. When people from this generation go to the market to purchase furniture for their apartments with limited space, they look for products that are both compact and affordable. Taking their preferences into account, HATIL employed the ‘Slim is Smart’ strategy.”
It is worth noting that the furniture industry in Bangladesh can be divided into two types: branded and non-branded. Currently, non-branded industries dominate 65 percent of the country’s furniture market.
For Mahfuzur Rahman, the non-branded or traditional furniture industry is currently a threat to the branded furniture market.
“As a brand, when we do business, we have to pay taxes to the government, which the non-branded ones may or may not pay. For a product sale worth Tk 100, we have to incur a cost of Tk 47 that includes VAT, income taxes, among others.”
“The government can earn huge tax revenue if the traditional furniture market can be brought under the tax regime,” he said.
What is HATIL doing to get ready for the inevitable in light of the country’s impending LDC graduation and analysts’ calls for diversifying the economy, particularly its exports?
Mahfuzur Rahman responded: “To prepare for the changes in the local furniture market, we are replacing our machinery with automated machines from Germany to keep up with the changing nature of the market.”
HATIL currently sources its major raw materials from various countries around the world. For wood, HATIL uses FSC (Forest Stewardship Council) certified beech-sawn timber and red oak, which are imported from Germany and Canada.
For hardware or furniture accessories such as handles, locks and keys, hinges, screws, latches etc., HATIL goes to China.
HATIL Complex Ltd. has to pay import duty for all these products (16 - 31 percent for wood and 60-90 percent for hardware), which, according to Rahman, is one of the biggest challenges the company faces right now and will continue to face in the future.
On the trend of using automation in production, Mahfuzur Rahman said, “With the change of time, we also have to change our way of thinking. That is why we are focusing on research and development and recruiting qualified manpower in those places.”
Among the two most tumultuous events in the last 4-5 years – Covid-19 pandemic and Russia’s war in Ukraine – the latter has had the most profound impact on the furniture industry, according to Rahman.
“We went into lockdown in March 2020 due to the pandemic. In that case, even though our manufacturing and revenue generation had completely shut down, we paid the salaries and bonuses of our employees on time and even gave them increments. Then, in September of that year, we turned around. In 2021, we were in a slightly better position after overcoming the effects of the pandemic.
“However, in 2022, we were confronted with a dire situation due to the supply chain disruption, inflation, and dollar crisis caused by the Russia-Ukraine war. And I personally think this crisis will persist until at least June-July next year,” he said.
During the interview, Mahfuzur Rahman talked about H.A. Timbers Industries Ltd. For him, holding onto this timber business, which has lost its past glory, is more about holding onto his family’s heritage than about business.
Apart from his involvement with HATIL Complex Ltd, Mahfuzur Rahman is involved with numerous other organisations. He is the president of the Dhaka College HSC '89 Foundation. The organisation is involved in several health programmes.
They also provided financial support to many lower-income people during the Covid-19 pandemic. Currently, they are considering establishing a vocational institute for health in Manikganj’s Singair Upazila.
Mahfuzur Rahman is a member of the trustee board of Bhola Children’s Special School Bangladesh. He is also an associate member of the Dhaka University Club and a lifetime member of Farashganj Sporting Club (Farashganj SC) and Madaripur Legal Aid Association (MLAA).
Rahman is also a goodwill ambassador of Bijoyphool, an initiative aiming to make the youths aware of the struggles during the Liberation War of Bang.
Read more: Bangladeshi furniture industry needs reforms to reach its full potential: HATIL Chairman Selim H. Rahman
YouTube Explainer Videos: Ways to Make Money While Sharing Knowledge
The internet has transformed the ways of sharing information and knowledge in the digital age. Among the many platforms to share ideas and expertise, YouTube stands out as a platform with vast potential for creators and viewers. YouTube offers content creators the opportunity to make money through its Partner Program, where they can earn revenue from their videos based on views and engagement. One popular format for content creation on YouTube is the explainer video, which allows creators to share knowledge and monetize their content. In this article, we will delve into the world of YouTube explainer videos, the skills necessary to create them, and the earning potential for content creators.
What is an Explainer Video?
An explainer video is a short, engaging, and informative piece of content that aims to explain a specific topic or concept to the audience in a clear and concise manner. These videos can cover a wide range of subjects, from educational tutorials and product demonstrations to explanations of complex ideas and processes. The primary goal of an explainer video is to simplify complicated information and present it in a way that is easy for viewers to comprehend and retain.
Explainer videos often utilize a combination of visuals, animations, voiceover narration, and sometimes background music to convey the message effectively. The visuals help to reinforce the content, making it visually appealing and engaging. By breaking down complex ideas into bite-sized pieces, explainer videos have become a popular tool for teaching, marketing, and communication across various industries.
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What Skills are Necessary to Make an Explainer Video?
Creating an effective explainer video requires a combination of technical expertise, creativity, and communication skills. Let's take a closer look at the essential skills necessary to produce compelling explainer videos:
Scriptwriting
A well-crafted script forms the foundation of any explainer video. The script should be concise, engaging, and tailored to the target audience. It should communicate the key points clearly and effectively while maintaining a consistent tone throughout the video.
Storyboarding
Before jumping into animation or recording, it's crucial to create a storyboard that outlines the visual elements of the video. A storyboard serves as a roadmap, guiding the creator through each scene and ensuring a smooth flow of information.
Video Editing
Proficiency in video editing software is essential for assembling the visual and audio components of the explainer video. Editors can enhance the video's quality, add animations, incorporate graphics, and synchronize the narration to create a polished final product.
Readmore: Top 10 Free Video Editing Apps for iOS, Android
Animation and Design
Depending on the style of the explainer video, animation skills might be necessary. Animators can bring static elements to life, making the content more engaging and captivating. Design skills also come into play when creating visually appealing graphics and illustrations.
Voiceover Narration
A clear and pleasant voiceover is essential to convey the message effectively. Content creators can either narrate the video themselves or hire a professional voice actor with suitable vocal qualities for the target audience.
Knowledge of Target Audience
Understanding the target audience is crucial for tailoring the content to their needs and preferences. A successful explainer video must resonate with the intended viewers, addressing their pain points and providing valuable insights.
SEO and YouTube Algorithm
To maximize reach and potential earnings, creators should be familiar with search engine optimization (SEO) techniques. Optimizing video titles, descriptions, tags, and thumbnails can significantly impact discoverability on YouTube's platform.
Read more: Why is Local SEO Important for Small Businesses in Bangladesh?
Engagement and Call-to-Action
Encouraging audience engagement through likes, comments, and shares is vital for YouTube's algorithm. Additionally, including a compelling call-to-action (CTA) can prompt viewers to subscribe, follow, or visit external websites.
How to Raise Angel Investment for Startups in Bangladesh
Angel investors are those who invest seed money into a business to kick start its operation. This investment usually comes in exchange for convertible debt or equity in the ownership of the company. From a startup perspective, angel investments are a great way to secure funds as well as mentorship from the investors working in the relevant industry. Here is how a business can raise angel investment, especially if they are from Bangladesh.
The Angel Investment Landscape of Bangladesh
Bangladesh is still in the early stages of angel investment. There were not many investors a few years back in the startup ecosystem. However, the pace is picking up. Bangladesh Startup Investment Report of 2022 shows that Bangladeshi startups were able to raise $112 million in 2022. A total of 47 startups were able to secure funds, among whom 39 brought unique service propositions. The largest funding was received by ShopUp who were able to raise $65 million from Valar Ventures and Flourish Ventures.
About 8% of the total funding came from local investors. On average, the angel investment size for early-stage startups was around $588K. Bangladesh is in the lower tier when it comes to securing venture funds.
Read more: How to Gain Funding for Startup: Best Practices to Attract Investors
How to Get Angel Investment in Bangladesh
Getting an angel investor to invest is neither straightforward nor easy. A startup will need to put in the work, especially in Bangladesh where the investment ratio is low. There are several key things to consider when it comes to securing angel investment. Here are some of them.
Clear Business Idea and Plan
A startup should have a clear business idea backed up by a strong and detailed plan to secure angel investment. The plan should outline the startup's mission, market opportunity, revenue model, target audience, competition analysis, marketing strategy, and financial projections. A solid business plan is crucial for gaining investor confidence.
Market Validation
Investors look for product or service confidence while investing. As a result, it is important to create a market validation of the startup product or service before making the initial approach for funds.
Market validation can be done by developing a market-viable product. This product or service can be channeled to early adopters and customers. Based on their experience, a positive narrative for the product can be developed. This will play a crucial role in securing early-stage angel investment.
Read more: How to Build Social Capital to Grow Your Business