How To Nail Your Pitch To Investors
You’ve come up with a business idea, you raised money with the help of family, friends, and crowdfunding to get it off the ground and running, and now you’re business is at the stage where it needs the support of investors. Finding the right investors and developing a working relationship with them can be crucial to the survival and future of your business. In order to grasp the attention of an investor you need to have a concise presentation, a passion for your business, and data to prove worth and potential revenue growth.
When speaking to investors, you need to have every piece of information possible available to them if they inquire about it. Your business’ financials, your revenue, losses, predicted growth are all key, as well as your competitors information, if possible- and information regarding how your business is entering the field in a favorable position.
No matter how good your product is, not having a strong grip on the market will turn investors away.
You also have to research who these inventors are. Be aware of who you are selling to and how best to sell to them. See if you can find any information to make the pitch more relatable and easy to digest. See if you can identify whether they tend to invest in certain types of businesses and who they have invested with in the past.
Your pitch should be easy to understand, concise, well organized and void of any error. Make sure that when you present, you are confident, you’re not reading off slides monotonously and you know the information included on the slides inside an out. Talking at people, or reading During your pitch will lost your investors and make them wonder if you really know your own business. Potential investors are most interested in knowing:
What product you are selling
What is unique about the product and how does it differ from anything currently in the market?
Who is your audience and how to you intend to inquire them?
How much is your revenue is, and what your plan is to continue driving revenue up and increase sales
A solid understanding of your numbers, financials and the ability to elaborate them
There will be questions, so be poised and prepared to answer them as truthfully and to the best of your ability. If you are unsure of something or need to spend time researching an answer, simply tell them you’d be happy to get an accurate answer for them immediately following the meeting via email etc.
Whether an investor seemed interested in your business or not, it’s customary to send any follow-up correspondence, thanking them for their time and consideration. They may not reach out to you now, but there’s a possibility that you at least made a good impression, and they may keep you in mind later.
Don’t Get Caught Up
So maybe you’ve pitched the deal to a few investors, who didn’t like it. Don’t get discouraged, step back and look at it from a positive perspective. See what changes can be made or what feedback investors have given you along the way and apply them, maybe even ask them for further suggestions that will improve your pitch.