Whether you’re starting a new venture or planning to expand, you’ll need an influx of cash to grow your business to the next level. The success or failure of a company often hinges on acquiring the right amount of money, and the right kind of investment at the appropriate point of time.

Finding the right investor is crucial for a company. Investors come in to fuel growth by injecting capital for various business aspects, including:

* Further product/service development;

* Market expansion and customer acquisition;

* Enhancing a company’s market position and share; and

* Hiring the right talent.

In addition, several investors also sit on the board of directors and help founders formulate their strategies and take vital business decisions. My top tips on attracting the right investor:

* Let your product shine

There is nothing stronger than introducing a product or service that solves a pressing need in people’s lives. Take as much time as you need to get the product right and ensure proof of concept. If it’s not a great product, investors will not want a piece of it.

* Be visible and have an opinion

Today, being good at your job or having a great product isn’t the only requisite for getting investors to notice. If key investors aren’t aware of you, you are likely to miss out on opportunities to fund raise and grow, despite your hard work and good performance.

Attend industry- and investor-related events, host talks and workshops on a topic you excel in, network among curated audiences, ask questions and engage in panel discussions and work on your personal and company branding both online and offline.

* Build a relationship

Focus on forming a bond with the right investor before fund raising. The right investor is someone who has an interest in investing in your industry, has invested in similar companies before and understands the industry’s ins and outs. They also have a great reputation among their peers and founders and they have a growth mindset towards your company.

Avoid the spray-and-pray model, be diligent with your investors, study their portfolio, meet them in events, engage with them online and offline, and create opportunities where you both get to know each other on a personal level. It takes a dedicated amount of time and energy to build good, strong, lasting business relationships — they are an integral and necessary part of success.

While attracting investors and fund raising is important, remember to never raise funds when in need. Raise when you do not need the money. Remember that you need have a great team, a great product, a customer base and a clear vision of how your company pans out in the future.

Tarek Ahmed is venture growth manager at Sheraa.