One of the toughest presentations to form is that the entrepreneurial pitch. You’ve got a great plan for a business and you want someone to provide you money to make it happen. The problem is that venture capitalists, angel investors, and even wealthy uncles are heavily predisposed against you. Why? As a result of 99% of the pitches they hear sound like certain-fireplace prescriptions to lose money!
If you’re pitching investors to relinquish you cash for a replacement venture, you must subscribe to the following rules:
1. Make a case for exactly what your business is within the first thirty seconds. Many entrepreneurs waste valuable time giving hundreds of information, background and alternative data—all the while investors are left scratching their heads thinking “What will this business actually DO?”
2. Tell your audience who your customers can be. Paint a vivid, specific picture of these people.
3. Justify why your customers going to allow you there exhausting-earned money.
4. Justify who your competitors are. (And if you say you’ve got no competitors, that’s a bound sign you are unsophisticated and deserve no investment money!)
5. Make a case for why you are the ONE to create this happen.
6. Provide your presentation with confidence and enthusiasm. Investors wish a founder/CEO to be a chief salesperson; they wish to determine that you’ll be able to convince the planet of your dream—not just them.
7. Justify what star you’ll hitch a ride to. Has Best Obtain or Radio Shack agreed to distribute your new product? Investors feel a lot of more snug knowing you have got a longtime player willing to distribute your wares.
8. Raise for a certain amount of money. If all you do is ask for money, then you’ll’t complain if an investor gives you $3.25 for a cup of Starbucks coffee.
9. Tell prospects specifically what you are going to spend the money on (hint:a visit to Maui for you and your friends can not impress)
10. Dress well, act assured, and put on the air that you just don’t really want their cash, but would be willing to just accept it if they carry enough to the table to be a strategic partner for you. Sad but true concerning human nature, but people are abundant a lot of likely to allow you cash if they feel you don’t really need it.
Finally, create every pitch presentation function a spotlight group for your next presentation. When one group of investors asks you a series of questions once you pitch, write down all of these questions and make certain most of them are answered in your next pitch therefore that the subsequent cluster doesn’t need to raise them. Keep pitching and keep improving your pitch and eventually you will get funded.
Find Out More: