In the course of study, some students come up with brilliant business ideas but lack the financial resources to fund such ventures and, therefore, need investors. Our goal today is to reveal some tips to help you with pitching your business ideas to investors successfully.
Winning a pitching competition like Hult Prize or Dragon’s Den is a good way to fund your business. Meeting an angel investor is another good way to birth the empire of your dreams. Let’s find out how you can do just that.
- Dress for success
- Research product/service, customers and investor(s)
- Tell a profound story
- Be precise, don’t use too many slides
- State the business plan, return on investment and growth strategy
- Practise, practice, practice
1. Dress for Success
Note that you will be addressed the way you are dressed. This may be unfair because indeed clothes don’t always portray the wearer’s true identity but that is no excuse for being shabby. Make a good first impression with your appearance, dress for success.
2. Research your Product/Service, Customers and Investor(s)
Know them well. Pitching is the wrongest place to be unable to answer questions about these things. You must be armed with raw data and facts. Knowledge about your investors, for instance, especially their passion, careers and previous investments will help you provide accurate answers to win their trust. You must also have an adequate understanding of your industry, the competition, and your future projections.
3. Tell a profound story
Tell your story; what influenced your decision to start up this business? Stories are unique and are an easy and effective way for investors to connect with your heart and passion for the idea. That’s what they need to make the final vote go in your favour so make it original and powerful.
4. Be precise, don’t use too many slides
There’s no gainsaying that you may have to make your presentation within a short time frame. This demands that you make it precise and brilliant. Don’t use too many slides because less is more. Simply make your content brilliant and engaging.
5. State the business plan, return on investment and growth strategy
You may not have much time while pitching your business idea especially when it’s an elevator pitch. So get to the meat of the matter quickly; state the business plan, return on investment and growth strategy. Investors want to know that their investment will yield great returns. They’re in it to profit remember? So, make it worth their while.
6. Practise, practice, practice
Your research, data, content, and outfit may be top-notch but it’s your presentation that’ll seal the deal. Before looking at your demo, investors will listen to your presentation and decide whether or not to invest in your idea. Therefore, practice over and over again. Practice before friends, family, classmates, just practice until you master your pitch.
When pitching your business ideas to investors, be courageous, passionate and enthusiastic about it. If you’re not fully convinced about your idea, no one will be convinced to invest in it.