Credibility is a vital survival factor for startups. Whether you want to convince investors, acquire customers, or apply for our incubator program, each of these target groups invests money and/or time in you and must believe that this investment is well-placed. According to studies, trust is one of the central factors in any purchasing or investment decision. But how do you establish this credibility when you are still at the very beginning and have not yet 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 in and look to people who have a clear goal, or even better, a vision. A vision does not primarily clarify what you do, but rather why or for what purpose you do it. It gives a higher meaning to the mission you pursue as a startup founder. This meaning, in turn, is important for investors and potential customers to recognize the intrinsic motivation behind your business idea. If this vision is authentic, you will be able to inspire and convince investors and customers.
2. A clear value proposition
Customers do not buy products; they buy solutions that provide added value and optimize their world in whatever form. Therefore, make it clear what value your customers gain from your product. Your customers will be able to understand your product much better and will feel understood and engaged, which in turn makes you and your idea more credible.
3. Deliver on your value proposition!
If you not only sell great added value but also deliver it through your product or service, this creates a sustainable relationship of trust between you and your target groups. In this way, prospects become not just customers, but “fans” of your idea—and we humans believe in people who have many enthusiastic followers. This 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 if you can use their logo in your communication media, or even better: ask them to write a positive review on relevant review portals or provide testimonials. The more pilot customers you have and the more prominent they are, the greater the credibility of your startup.
5. Presence in external media
We all consume content to gain information, whether it is a daily newspaper, a specific podcast, or the Instagram channel of someone who inspires us. And we place our trust in this information. Do you know which media your target audience consumes? Then do everything you can to be present in those media. Especially at the beginning, this is a cost-effective way to help your startup gain visibility and credibility.