Being an entrepreneur and presenting your business idea to potential investors is one of the most nail-biting things. It is an era of startups where everyone is assertive about their purpose and ready to move further with the funding process. Your success and how your startup plan creates a place in this clutter depend on how well you present those thoughts to your dream investors. But before understanding the process of pitching your business idea successfully, let’s first understand what you would require to draft a remarkable business pitch.
Points to Take Care of When You Pitch Your Business Idea!
- 1. Elevator Pitch: Elevator pitch is a concise and straightforward description of your business idea. It should contain information like what your business is about, your role as an entrepreneur, and why you deserve the funding. It is one of the easiest ways to gauge your investor’s attention and hook them to your pitch.
- 2. The Problem You’re Solving and the Solution You’re Providing: The main purpose of any business is to solve a particular obstacle for its target audience. Make sure you define the problem and the solution very clearly. Try to make it relatable. Immaculate your business idea by mentioning what your competitors are doing about the problem and how you’re going to be different from them.
- 3. Unique Selling Proposition: When preparing your business pitch, don’t forget to include how you’re different from your competitors. Your USP will mark you out from your competitors and trigger your TA and potential investors to try your product/services.
- 4. Statistics: Numbers is the real game when presenting your business idea. Investors are really interested in knowing your financial projections, your money management system and how you plan to scale your business. You can use a chart like this to make your pitch visually appealing.
- 5. Business Model: Having a business model in place will let your probable investor know how you’re planning to take your business economically and how it’s going to make you money. An ideal business model should answer what you sell, how you sell, to whom you sell and how much you earn out of it.
These are some basic things that you need to include in your pitch to back your business idea. Let’s understand how to pitch your ideas as an entrepreneur to bag those much-needed funds for the business.
Tell a Story
No doubt that stats and numbers in your pitch is a crucial point but focusing only on selling is not going to get you investors. When in business, never forget that you need to develop a connection with your customers and your investors. You may or may not get the investment, but the story remains. Talking about your business in storytelling also reflects your excitement and your passion towards your business.
Keep it Short and Crisp
Time is money, and you need to be very careful about it. Investors might have a tight schedule. Be very particular with your conversation with them. Practice your pitch before the actual meeting with your investors and keep it in the time-frame of 30 minutes. When pitching, it should seem like you’re confident about your business idea and not rushing to just get the money.
Eye-dropping Visual Presentation
A picture speaks more than just mere words. Prepare compelling images and charts that can support your pitch. It will hook your investors and want them to know more about your business.
Keep Clear Communication
When you pitch your idea, it should be clear and understandable to every single person who’s listening to your pitch. Keep the pitch simple, to the point and ensure that it focuses in delivering the core message that you plan to communicate.
Be Realistic
‘Practice your pitch’ is the most common thing you’ll hear from many people. There are times when investors will interrupt your pitch to ask questions and get clarity. You need to practice your pitch in a way that is realistic. Let people ask you questions so that you can get a real-time experience.
The Bottom Line:
Each investor prioritizes different things when they listen to a business pitch. As an entrepreneur, your idea should steal the eyes of your investors and persuade them to know more about you and your business. Apart from a solid business idea, most investors invest on the entrepreneur. Maintain a soft tone and explain things very elegantly. Make sure you look confident and bold enough when pitching.
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