Get the money you need for your startup by learning how to pitch your business to potential investors.
Every business owner should make sure that they have enough time to pitch their startup business to anyone who can be of help. This may be a challenging task especially since starting a business requires you to wear many hats at once but you need to make it work if you want to successfully achieve your goal.
Pitching to Potential Investors – Some Useful Tips to Consider
When pitching to potential investors (angel investors, private equity companies and/or venture capital funds), keep in mind that while your idea, product or innovation counts, the quality of your pitch may make or break your chances of securing funds for your fledgling company. So, to increase your chances of securing additional investment for your business, here are some tips that may help you get what you need.
1. Make the necessary preparations. Pre-event preparation is one of the keys to making a successful pitch so it counts to know the format or criteria of the event. In addition, you should learn everything you can about each investor on the panel, including the projects they have invested in before and how much time they can devote to you and your idea, to further increase your chances of success.
2. Be enthusiastic about your business idea. Let your potential investors know how passionate you are about your idea. Let your enthusiasm shine right through you. Let them see that you have what it takes to be a successful entrepreneur. Remember, investors invest in the person, not in the business plan. If you can get them excited about your idea and your presentation, then you are already a step closer to your goal.
3. Get your timing right. Make sure you can deliver your pitch and capture all the essentials within the allotted time.
4. Be honest. Don't throw in an impressive sales forecast just to impress would-be investors, especially if you can't back it up. They will eventually find it out.
5. Listen. Listen to what your investors want to ask so that you can give them the most appropriate response to their queries.
6. Arm yourself with some sales figure. You can impress potential investors by showing them that you can sell your products and/or services even before securing additional funds for the business.
7. Respect investors' money. Let potential investors know how you would spend their money and assure them that you will be prudent in using their money.
There are still a lot of ways to get the nod of your potential investors but these tips can help you get started on the right path.