You never know how long you’re going to get to pitch your business idea to an investor. Most don’t get the luxury of more than a few minutes, so it makes sense to have an all-encompassing, action-packed pitch ready to deliver in less than 10 minutes. Can you talk the talk at high speed? You can if you’re prepared.
Weave Your Way Forward With Words
When pitching to investors, you want to engage their attention from the very first second. Storytelling is the easiest way to reel them in, especially if you can apply elements of the story that are relative to them. Allow them to see eye to eye with you and get them intrigued by what you’re about to offer.
Propose A Solution To A Problem
Kick off with a business requirement, a hole within your industry or a problem, and propose how your product or service is going to provide the solution. What makes your product or service unique? How does it stand above that of your competitors? Why should anyone take the time to buy into your business? Be brutal with yourself and answer to the most difficult questions you can come up with. Your investors won’t be gentle with you. They will more than likely be the opposite and do whatever they can to break you down and find the loopholes (if there are any) in your plan.
Introduce the Team
Nothing makes an investor feel more at ease than knowing that his or her money is going to be well spent. The employees or partners are the people that will be contributing to the future of this business, so it’s best to give the investors time to resonate with them and get a taste for their skills.
Place Focus On Your Credentials
What have you done that’s great? What is it that makes you awesome? Build credibility by focusing on your credentials, your successes and the high points of your career. If there isn’t anything meaty or compelling enough to talk about in terms of your prior success, rather leave it out instead of adding fluff.
Present The Basics of Your Business Plan
Back up your claims by having a comprehensive business plan on hand for investors to look at, at their leisure. Save it to a funky flash disk that you’re happy to leave with them – a little something tangible to remind them of you and your riveting presentation.
Show Me The Money
Finally, you’ll need to talk money and specifics relating to how you intend to make it. Start by highlighting your target market and get a little cocky in showing them how much you already know about this niche. Then you’ll need to show your prospective investors exactly how you’ll mobilize your services to reach this market, how they’ll respond to your product and how it’s going to sell. Answer questions like how you will make money and how long it’ll take to start seeing returns. Indicate what your pricing will be and give them financial projections for at least the next three years.
Practice Makes Perfect
No one knows your business like you do; you more than likely came up with the idea, the business plan and the motivation for investment, but don’t assume that you can just wing it when you’re presenting your ideas to venture capitalists or angel investors. Use every second effectively, rehearse properly and plan the pitch down to the last slide or comment.
If you’ve got any other tips you’d like to share with our readers, please feel free to leave them in the comments section.
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